Here is where I need help.
1. Consider Job 332, an order for 100,000 sales catalogs for the local mall. Actual direct material costs for this job are $10,000 and actual labor costs are $6,000. Calculate the cost of Job 332 (a) if it is competed in January-March 2008 and if the budgeted overhead rate for that quarter is used to allocate overhead cost, (b) if it is done in July-September 2008 and if the budgeted overhead rate for that quarter is used to allocate overhead costs, and (c) if the average budgeted overhead rate for the year 2008 is used to allocate overhead costs.
2. To cost each job, Printers, Inc. currently uses the budgeted variable overhead rate for the quarter in which the job is completed and a budgeted fixed overhead rate based on budgeted annual fixed overhead costs and budgeted annual direct labor costs. Calculate the cost of Job 332 using this method if it is done (a) January - March 2008 and (b) July-September 2008.
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