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Pribil Farm Equipment is a job-order costing manufacturer that uses a plantwide overhead rate based on...

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Accounting

  1. 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.

  1. Create Job Cost Reports for the month.

  1. Calculate the Work-in-Process on March 31 and COGS.

  1. Income Statement for the Month of March

Answer & Explanation Solved by verified expert
3.7 Ratings (417 Votes)
Answer Predetermined Overhead rate Estimated OverheadEstimated Direct Labor Hours 42000030000 1400 per hour A Job Costing Report Job 89 Job 90 Job 91    See Answer
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