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In: Accounting

Marty and Wendy Byrde recently moved to Ozark, Arkanasas due to Marty's being hired by a...

Marty and Wendy Byrde recently moved to Ozark, Arkanasas due to Marty's being hired by a new employer. They have become involved in the community as well as several local businesses. One of his businesses, Smuggler's Boat Company, uses a job-order costing system and applies manufacturing overhead to jobs using a predetermined overhead rate based on direct labor-hours. Last year manufacturing overhead and direct labor-hours were estimated at $97,680 and 26,400 hours, respectively, for the year. In August, a job for Snell Productions was completed. Materials costs on the job totaled $5,200 and labor costs totaled $2,604 at $6.20 per hour. At the end of the year, it was determined that the company worked 30,800 direct labor-hours for the year and incurred $107,660 in actual manufacturing overhead costs.

Required:

a. The Snell job contained 100 units. Determine the unit product cost that would appear on the job cost sheet.

b. Determine the underapplied or overapplied overhead for the year.

Solutions

Expert Solution

ekkarill92 answered 2 years ago
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