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Thank you! Problem 4-49 (Algo) Application of Overhead; Cost Flows [LO 4-3,...

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Accounting

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Problem 4-49 (Algo) Application of Overhead; Cost Flows [LO 4-3, 4-4, 4-5] Haughton Company uses a job costing system for its production costs and a predetermined factory overhead rate based on direct labor costs to apply factory overhead to all jobs. During the month of July, the firm processed three jobs: X13, X14, and X15, of which X13 was started in June. As of July 31 , Job 13 was sold and Jobs 14 and 15 were stil in process. Total factory overhead applied in July was $1,507,050 Required: 1 Compute the predetermined factory overhead rate 2 Compute the amount of the Direct Materials account ot the end of July 3 Compute the actual factory overhead cost incurred during the month of July 4. Compute the ending balance of the Work-in- Process inventory account for July 5. Prepare the Statement of Cost of Goods Manufactured for July. 6 Compute the amount of overapplied or underapplied overtiegd 7. What is the cost per unit of Job 13 if it has a total of 100 units? 8 Prepare the Statement of Cost of Goods Sold for July

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