Pribil Farm Equipment is a job-order costing manufacturer thatuses a plantwide overhead rate based on direct labor hours.Estimations for the year include $250,000 in Overhead and 50,000direct labor hours. Pribil worked on five jobs in March.Data are as follows:
| Job 89 | Job 90 | Job 91 | Job 92 | Job 93 |
Balance, 3/1 | $23,110 | $18,240 | $ 9,510 | $0 | $0 |
Direct Materials | 13,000 | 17,210 | 22,900 | 15,240 | 8,210 |
Direct Labor cost | 8,075 | 11,500 | 16,250 | 9,750 | 4,860 |
Direct Labor Hours | 1,615 | 2,300 | 3,250 | 1,950 | 972 |
By March 31, Jobs 89 and 91 were completed and sold at Cost plus55%. The rest of the jobs remained in process.
Calculate the plantwide overheadrate.
Create Job Cost Reports for the month.
Calculate the Work-in-Process on March 31 and COGS.
Income Statement for the Month of March
