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Homework answers / question archive / Problem 2-4A (Video) Agassi Company uses a job order cost system in each of its three manufacturing departments

Problem 2-4A (Video) Agassi Company uses a job order cost system in each of its three manufacturing departments

Accounting

Problem 2-4A (Video)

Agassi Company uses a job order cost system in each of its three manufacturing departments. Manufacturing overhead is applied to jobs on the basis of direct labor cost in Department D, direct labor hours in Department E, and machine hours in Department K.

In establishing the predetermined overhead rates for 2020, the following estimates were made for the year.
 
   
Department
   
D
  
E
  
K
Manufacturing overhead   $854,000   $1,500,000   $1,020,000
Direct labor costs   $1,220,000   $1,875,000   $675,000
Direct labor hours   150,000   125,000   60,000
Machine hours   600,000   750,000   120,000

During January, the job cost sheets showed the following costs and production data.
 
   
Department
   
D
  
E
  
K
Direct materials used   $210,000   $189,000   $117,000
Direct labor costs   $180,000   $165,000   $56,250
Manufacturing overhead incurred   $148,500   $186,000   $118,500
Direct labor hours   12,000   16,500   5,250
Machine hours   51,000   67,500   10,390

 

Compute the predetermined overhead rate for each department. (Round answers to 2 decimal places, e.g. 12.50 or 12.50%.)

Compute the total manufacturing costs assigned to jobs in January in each department.
 

Compute the under- or overapplied overhead for each department at January 31.
 

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