Answered

Get the answers you need at Westonci.ca, where our expert community is dedicated to providing you with accurate information. Our platform connects you with professionals ready to provide precise answers to all your questions in various areas of expertise. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

Leelanau applies overhead using a predetermined rate. What amount of overhead was applied to work in process last year

Sagot :

Answer:

$138,500

Explanation:

The computation of the overhead applied is shown below:

As we know that

Cost of goods manufactured = Beginning WIP + Total manufacturing costs - Ending WIP

$323,000 = $10,500 + Total manufacturing costs - $19,000

So,  

Total manufacturing costs is

= ($323,000 + $19,000 - $10,500)

= $331,500

Now  

Total manufacturing costs is

= Direct materials + Direct labor + Overheads

So,  

Overheads is

= ($331,500 - $115,000 - $78,000)

= $138,500

Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Keep exploring Westonci.ca for more insightful answers to your questions. We're here to help.