Accounting 154- Exam 1 Practice Part A: Pullman Manufacturing manufactures chair

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Accounting 154- Exam 1 Practice Part A: Pullman Manufacturing manufactures chairs. They expect to have 40,000 direct labor hours Annual overhead is expected to be $1,020,000. For Job #444, they used 6,000 direct labor hours to manufacture 14,000 chairs. Direct material costs for Job #444 were $54,000 Direct Labor costs can be calculated based on an average worker wage of $12.50 per hour Overhead is allocated to chairs based on direct labor hours. I. What is the total cost of Job #444? 2, what is the unit cost (cost per chair) of Job #4447 (Show work for partial credit) Assuming that Pullman desires to sell its chairs at 35% above cost, what price should be charged to the customers for each chair? 3. Part B: Use the data from above. It is now year-end. You determine that actual overhead for the year was $985,000, actual direct labor hours for the year were 39.700. Calculate the over/underapplied overhead. Make sure you state whether it was overapplied or underapplied. Page 1

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