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. balance February credits
February debits
Manufacturing Overhead
February debits Feb. balance
February credits
Work in Process Inventory
Feb. balance February credits
February debits:
Direct material
Direct Labor
Man. overhead
Wages Payable
February debits Feb. balance
February credits
Finished Goods Inventory
Feb. balance February credits
February debits
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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