Lakeland Heating & Cooling installs and services commercial heating and cooling systems. Lakeland uses job...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Lakeland Heating & Cooling installs and services commercial heating and cooling systems. Lakeland uses job costing to calculate the cost of its jobs. Overhead is allocated to each job based on the number of direct labour hours spent on that job. At the beginning of the current year, Lakeland estimated that its overhead for the coming year would be $65,000. It also anticipated using 5,000 direct labour hours for the year. In November, Lakeland started and completed the following two jobs: Job 101 Job 102 Direct materials used ........................... $18,500 $12,000 Direct labour hours used ...................... 120 80 Lakeland paid a $21-per-hour wage rate to the employees who worked on these two jobs. Requirements (Show Your Work) What is Lakelands predetermined overhead rate based on direct labour hours? Calculate the overhead to be allocated based on direct labour hours to each of the two jobs. What is the total cost of Job 101? What is the total cost of Job 102?
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.