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# Section: When calculations are correct the cell will change to green. Exercise 3-5 a. Direct materials Direct labor Factory overhead Total cost...

This is from Principles of Cost Accounting 16th Edition by VanDerbeck

I have calculated most of it but I'm having issues with one part. I have attached the excel file I'm working with.

Overtime Allocation

Prince Machine Tool Company produces tools on a job order basis. During May, two jobs were completed, and the following costs were incurred:

Direct Materials
Job 401: \$28,000
Job 402: \$37,000

Direct Labor: Regular
Job 401: \$18,000
Job 402: \$23,000
Job 401: none
Job 402: \$6,000

Other factory costs for the month totaled \$16,800. Factory overhead costs are allocated one-third to Job 401 and two-thirds to Job 402.
a. Describe two alternative methods for assigning the overtime premium cost to Jobs 401 and 402 and explain how the appropriate method would be determined.
b. Compute the cost of Job 401 and Job 402 under each of the two methods described in part a.

Name: Section: When calculations are correct the cell will change to green. Exercise 3-5 a. b. Overtime Premium Overtime Premium Charged to Charged to Job 402 Factory Overhead Job 401 Job 402 Job 401 Job 402 Direct materials \$ 28,000 \$ 37,000 \$ 28,000 \$ 37,000 Direct labor 18,000 29,000 18,000 23,000 Factory overhead 5,600 11,200 Total cost \$ 51,600 \$ 77,200 \$ \$
Name: Section: When amount, totals and net earnings calculations are correct the cell will change to green. Exercise 3-12 a. Employee Regular Earnings Overtime Premium FICA Hours Rate Amount Hours Rate Amount 8% Holloway, T 40 \$12 \$504.00 2 \$6.00 \$12.00 \$516.00 \$41.28 \$77.40 \$397.32 Jackson, D. 40 \$12 516.00 3 \$6.00 18.00 534.00 42.72 80.10 411.18 McLean, J 40 \$15 660.00 4 \$7.50 30.00 690.00 55.20 103.50 531.30 Lyons, M 40 \$9 360.00 360.00 28.80 54.00 277.20 Taylor, A 40 \$18 720.00 720.00 57.60 108.00 554.40 \$2,760.00 \$60.00 \$2,820.00 \$225.60 \$423.00 \$2,171.40 b. GENERAL JOURNAL Account Title Debit Credit 1. Payroll 2,820.00 FICA Tax Payable 225.60 Employee Income Tax Payable 423.00 FUTA rate 0.01 Wages Payable 2,171.40 SUTA rate 0.04 FIT rate 0.15 2. Wages Payable 2,171.40 Cash 2,171.40 3. Work in Process 2,760.00 Factory Overhead 60.00 Payroll 2,820.00 4. Factory Overhead FICA Payable Federal Unemployment Tax Payable State Unemployment Tax Payable Total Earnings Income Tax Net Earnings
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