Pribil Farm Equipment is a job-order costing manufacturer that uses a plantwide overhead rate based on...

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Accounting

Pribil Farm Equipment is a job-order costing manufacturer thatuses a plantwide overhead rate based on direct labor hours.Estimations for the year include $250,000 in Overhead and 50,000direct labor hours. Pribil worked on five jobs in March.Data are as follows:
Job 89
Job 90
Job 91
Job 92
Job 93
Balance, 3/1
$23,110
$18,240
$ 9,510
$0
$0
Direct Materials
13,000
17,210
22,900
15,240
8,210
Direct Labor cost
8,075
11,500
16,250
9,750
4,860
Direct Labor Hours
1,615
2,300
3,250
1,950
972
By March 31, Jobs 89 and 91 were completed and sold at Cost plus55%. The rest of the jobs remained in process.
Calculate the plantwide overheadrate.
Create Job Cost Reports for the month.
Calculate the Work-in-Process on March 31 and COGS.
Income Statement for the Month of March

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3.7 Ratings (417 Votes)

Answer Predetermined Overhead rate Estimated OverheadEstimated Direct Labor Hours 42000030000 1400 per hour A Job Costing Report Job 89 Job 90 Job 91 See Answer

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	Job 89	Job 90	Job 91	Job 92	Job 93
Balance, 3/1	$23,110	$18,240	$ 9,510	$0	$0
Direct Materials	13,000	17,210	22,900	15,240	8,210
Direct Labor cost	8,075	11,500	16,250	9,750	4,860
Direct Labor Hours	1,615	2,300	3,250	1,950	972