CoursHeroTranscribedText: E3-4 Overtime Allocation Albert Machine Tool Company produces tools on a job order LO3...
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CoursHeroTranscribedText: E3-4 Overtime Allocation Albert Machine Tool Company produces tools on a job order LO3 basis. During May, two jobs were completed, and the following costs were incurred: Job 401 Job 402 Direct materials . . $28,000 $37,000 Direct labor: Regular . .... 18,000 23,000 Overtime premium . .... 6,000 Other factory costs for the month totaled $16,800. Factory over- head costs are allocated one-third to Job 401 and two-thirds to Job 402. a. Describe two alternative methods for assigning the overtime premium cost to Jobs 401 and 402 and explain how the appropriate method would be determined. b. Compute the cost of Job 401 and Job 402 under each of the two methods described in part a
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