ACCY121, CH7HW NO.5.pdf

# Predetermined variable overhead rate 312000 156 per

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Predetermined Variable Overhead Rate = \$312,000 = \$1.56 per Direct labor-hour. 200,000

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Fixed Manufacturing overhead = 0.70 × \$1,040,000 = \$728,000 Predetermined Fixed Overhead Rate = \$728,000 = \$3.64 per Direct labor-hour. 200,000 c. Work-in-Process inventory Materials inventory : \$137,200 + \$93,000 + \$94,000 = \$324,200 Wages payable : \$490,000 + \$312,400 + \$197,600 = \$1,000,000 Variable manufacturing overhead : \$38,220 + \$24,367 + \$15,413 = \$78,000 Fixed manufacturing overhead : \$89,180 + \$56,857 + \$35,963 = \$182,000 d. Actual Normal Sales revenue \$ 1,400,000 \$ 1,400,000 Less cost of goods sold (1,282,200) (1,241,224) Gross margin \$ 117,800 \$ 158,776 Less:(Under-) overapplied overhead (11,200) Marketing and Administrative costs (112,000) (112,000) Operating profit (Loss) \$ 5,800 \$ 35,576
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