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Cornerstones of Managerial Accounting 4th Edition by Maryanne Mowen, Don Hansen, Dan Heitger
Edition 4ISBN: 978-0324380767Cornerstones of Managerial Accounting 4th Edition by Maryanne Mowen, Don Hansen, Dan Heitger
Edition 4ISBN: 978-0324380767 Exercise 59
Job-Order Costing Variables
On July 1, Job 88 had a beginning balance of $710. During July, prime costs added to the job totaled $640. Of that amount, direct materials were three times as much as direct labor. The ending balance of the job was $1,550.
Required:
1. What was overhead applied to the job during July
2. What was direct materials for Job 88 for July Direct labor
3. Assuming that overhead is applied on the basis of direct labor cost, what is the overhead rate for the company ( Note: Round your answer to four decimal places.)
On July 1, Job 88 had a beginning balance of $710. During July, prime costs added to the job totaled $640. Of that amount, direct materials were three times as much as direct labor. The ending balance of the job was $1,550.
Required:
1. What was overhead applied to the job during July
2. What was direct materials for Job 88 for July Direct labor
3. Assuming that overhead is applied on the basis of direct labor cost, what is the overhead rate for the company ( Note: Round your answer to four decimal places.)
Explanation
Verified
Verified
Given values: 
1. Calculate overhead app...
Cornerstones of Managerial Accounting 4th Edition by Maryanne Mowen, Don Hansen, Dan Heitger
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