Hello! I posted this problem before (I linked the URL below) but I\'m concerned

Question

Hello! I posted this problem before (I linked the URL below) but I'm concerned there's an error with the predetermined OH rate in question A.

It's stated in the answer as being 107,400 but in the problem, it's stated as 107,800. Could that be a typo or if not, can someone please explain? I need the solution as soon as possible. If it's a typo, can someone please explain what else would need to fixed in the solution given in the URL? Thanks a bunch!

https://www.chegg.com/homework-help/questions-and-answers/please-help-nobody-solved-problem-yet-s-really-important-please-don-t-answer-re-100-soluti-q29838122

Chapter 16 Checkpoint Problem #2 which uses a job-order costing system, had the following account balances on January Nelson Company, of the current year $2.400 $22.450 $65,700 Raw Materials Work in Process Finished Goods The Work-in-Process Inventory consisted of three jobs: 1211 55,120; #1212 58,470; and 91213 $8,860 The Finished Goods Inventory consisted oftwo jobs, #1207, $31,900 and #1209 S33.800. Nelson Company uses a normal costing system with an overhead rate based oo machine bours. The following budgeted information was available for the current year: Annual overhead costs $107,800 and machime hours 2,450. During the current year, the following transactions took place: a. Raw materials costing $50,000 were parchased on account b. Total factory labor charges accrued were $147,400 c. A summary of material requisitions and time tickets appeared as follows Time Tickets Direct Machine Hours Used Material Labor Job No. Requisitions Labor HoursCost 9,000 10,000 1,900 1,100 9.350 8,730 4.750 360 400 150 990 310 250 840 210 1214 1215 1216 680 225 140 510 560 24.750 7.750 8,940 sub-total $40,230 8,500 21,000 4,500 112,300 34,900 Indirect Total $48,730 d. Other factory costs include $24,500 of depreciation on factory equipment, $9,500 of expired factory insurance, S12,000 of accrued property taxes and $18,300 of miscellancous factory costs paid in cash. e. Job Nos. 1211, 1212, 1213, 1214, 1215, and 1218 were completed f Job Nos. 1207, 1209, 1211, 1213, and 1218 were sold for a total of $300,000 cash. REQUIRED A. What is the pre-determined annual overhcad rate? B. Complete the attached cost flow diagram and job order cost sheets. Be sure to enter the beginning balances of the inventory accounts and be sure to compute ending balances for all accounts C. Prepare ALL necessary journal entries for the current year in the attached general journal. D. Verify the ending balance of the work-in-process and finished goods inventories by reconciling the balances to the appropriate job cost sheets. E. Prepare the manufacturing statement and a partial income statement (through gross profit) for the year.

Explanation / Answer

Ans a Predetermine overhead rate-107800/2450 44.00 ans b Job no 1211 Job no 1214 Beg $5,120 Beg DM 3100 DM 9350 DL 5000 DL 28750 OH 4620 (104*44) OH 22440 (510*44) total $17,840 total $60,540 Job no 1212 Job no 1215 Beg $8,470 Beg DM 1900 DM 8730 DL 9000 DL 24750 OH 7920 (180*44) OH 29920 (680*44) total $27,290 total $63,400 Job no 1213 Job no 1216 Beg $8,860 Beg DM 1100 DM 4750 DL 10000 DL 7750 OH 9240 (210*44) OH 9900 (225*44) total $29,200 total $22,400 Job no 1217 Job no 1218 Beg Beg DM 2360 DM 8940 DL 6250 DL 21000 OH 6160 (140*44) OH 22440 (510*44) total $14,770 total $52,380 ans 3 Accounst Title Dr Cr a) Raw Material Inventory $50,000 Accounts Payable $50,000 b Factory wages 147400 Wages Payable 147400 c) Work in Process Inventory 40230 Manufacturing overhead $8,500 Raw Material Inventory $48,730 Work in Process Inventory 112500 Manufacturing overhead $34,900 Factory wages $147,400 d Manufacturing overhead $64,300 Accumulated Depreciation-equipment $24,500 Prepaid Factory Insurance 9500 Property Taxes payable 12000 Cash 18300 Work in Process Inventory 112640 Manufacturing overhead (2560*44) 112640 e Finished Goods Inventory $250,650 Work in Process Inventory 250650 (jobs completed) f Accounts Receivable $300,000 Sales 30000 Cost of Good sold 165120 Finished Goods Inventory 165120 (31900+33800+17840+29200+52380) ans d Work In process Inventory Beg Bal 22450 Fini. Goods $250,650 DM 40230 DL 112500 MO 112640 (2560*44) End Bal $37,170 Finished Goods Invenotry Beg $65,700 COGS 165120 WIP $250,650 end $151,230 All the answers are matching.

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