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28) A company's predetermined overhead rate is applied at 75% of direct labor cost. How...

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Accounting

28) A company's predetermined overhead rate is applied at 75% of direct labor cost. How much overhead would be allocated to Job No. XYZ if it incurred total direct labor costs of $170,000?

29) Based on the following calendar year information:

Advertising expense

$ 38,800

Depreciation of factory equipment

43,000

Depreciation of office equipment..

10,800

Direct labor.

150,600

Factory utilities...............

45,650

Rent on factory building

51,400

Indirect labor.

30,750

Sales commissions..

66,500

Interest expense.............

3,650

Inventories, January 1:

Raw materials.

104,450

Work in Process

87,250

Finished goods............

95,600

Inventories, December 31:

Raw materials..

82,300

Work in Process.

60,700

Finished goods.

101,050

Raw materials purchases..

332,450

If overhead is applied at the rate of 110% of direct labor costs.

Then from the above information, determine:

a) the amount of actual Overhead incurred during the year;

b) the amount of overhead applied during the year;

c) Was overhead for the year under- or over-applied and by how much?

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