Royal Company uses budgeted overhead rates to apply...

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Royal Company uses budgeted overhead rates to apply overhead to individual jobs. It uses a system based on machine hours. Last year, the company made the following estimates for this year. Direct labor costs $9,900,000 Factory overhead costs $11,748,000 Direct Labor Hours $550,000 Machine Hours $660,000 (a) What is the budgeted overhead rate for the company? (Show your work) (b) If Job #31255 had the costs listed below, what would be the total cost of Job #31255? (Show your work) Material costs were $300,000; Direct labor costs were $216,000; Direct labor hours were 12,000; and Machine hours were 15,000. (Points : 30)
2. (TCO 3) James Company uses process costing to track its costs in two sequential production departments: Forming and Finishing. The following information is provided regarding the Forming Department: Forming Department Month Ended June 30 Unit information Beginning work in process, June 1 --- 4,000

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