Business, 24.06.2019 16:00 endyrocks19

At the end of 2017, records show the company incurred $1,575,000 of actual overhead costs. it completed and sold five jobs with the following direct labor costs: job 201, $609,000; job 202, $568,000; job 203, $303,000; job 204, $721,000; and job 205, $319,000. in addition, job 206 is in process at the end of 2017 and had been charged $22,000 for direct labor. no jobs were in process at the end of 2016. the company's predetermined overhead rate is based on direct labor cost. required 1-a. determine the predetermined overhead rate for 2017. 1-b. determine the total overhead cost applied to each of the six jobs during 2017. 1-c. determine the over- or underapplied overhead at year-end 2017. 2. assuming that any over- or underapplied overhead is not material, prepare the adjusting entry to allocate any over- or underapplied overhead to cost of goods sold at the end of 2017.

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At the end of 2017, records show the company incurred $1,575,000 of actual overhead costs. it comple...

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