Determine and Use Overhead Rate The following selected ledger accounts of Cameron Company...

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Accounting

Determine and Use Overhead Rate
The following selected ledger accounts of Cameron Company are for February (the second month of its accounting year):
Materials Inventory
Feb. 1 balance 50,400 February credits 180,800
February debits 166,400
Manufacturing Overhead
February debits 219,520 Feb. 1 balance 18,560
February credits 218,160
Work in Process Inventory
Feb. 1 balance 35,840 February credits 552,000
February debits:
Direct material 152,000
Direct Labor 242,400
Man. overhead 218,160
Wages Payable
February debits 309,600 Feb. 1 balance 72,000
February credits 283,200
Finished Goods Inventory
Feb. 1 balance 122,400 February credits 613,920
February debits 552,000
a. Determine the amount of indirect material requisitioned for production during February.
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b. How much indirect labor cost was apparently incurred during February?
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c. Calculate the manufacturing overhead rate based on direct labor cost.
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%
d. Was manufacturing overhead for February under- or overapplied, and by what amount?
Manufacturing overhead was Answer
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for February.
e. Was manufacturing overhead for the first two months of the year under- or overapplied, and by what amount?
Manufacturing overhead was Answer
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for the first two months.
f. What is the cost of production completed in February?
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g. What is the cost of goods sold in February?
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