Following is partial information for Delamunte Industries for the month of Augus

Question

Following is partial information for Delamunte Industries for the month of August: Work In Process Balance, August 1 Direct materials used Direct labor Manufacturing overhead applied $ 140,000 109,800 160,000 145,000 Jobs finished during August are summarized here Cost of Jobs Completed $55,950 31,800 46,000 13,000 Job # 234 237 231 246 Required At the end of August, only one job, Job 248, was still in process. The direct labor cost incurred on Job 248 as of August 31 was $23,300 1. Calculate the predetermined overhead rate that was used to apply manufacturing overhead to jobs during August. (Round your answer to 2 decimal places.) per Direct Labor dollar 2. Determine the balance in Work in Process at the end of August. in Process 3. Determine how much of the direct materials cost and applied overhead would be recorded for Job 248 as of August 31. (Round your "Predetermined Overhead Rate" to 2 decimal places.) Direct Materials Cost Applied Overhead

Explanation / Answer

1 Predetermined overhead rate = 145000/160000= $0.91 per Direct labor Dollar 2 Total manufacturing costs = 140000+109800+160000+145000= $554800 Total cost of finished jobs = 55950+31800+46000+13000= $146750 Work in Process at the end of August = 554800-146750= $408050 3 Applied overhead = 23300*0.91= $21203 Direct materials = 408050-23300-21203= $363547

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