The following information applies to the questions displayed below In December 2
ID: 2459931 • Letter: T
Question
The following information applies to the questions displayed below In December 2014, Infodeo established its predetermined overhead rate for movies produced during year 2015 by using the following cost preditions overhead costs, $1,932,000,and direct labor costs, $460,000 At year-end 2015, the company's records show that actual overhead costs for the year are $985,000 Actual direct labor cost had been assigned to jobs as follows Movies completed and released $ 200,000 37,000 $237,000 Movies still in production Total actual direct labor cost $237000 References Section Break Exercise 2-15 Factory overhead computed, applied, and adjusted LO P3, P 3.00 points Exercise 2-15 Part 1 1·Determine the prod temned overhead rate for year 2015. Overhead rato DELLExplanation / Answer
Choose Numerator
Choose denominator
Overhead rate
Predetermined overhead
Direct labor cost
Overhead rate
1,932,000
460,000
$.20
(2) Factory overhead
Overhead incurred
985,000
Overhead applied
237,000*4.20
995,400
Overapplied
10,400
(3)
Factory overhead
10,400
To Cost of goods sold
$10,400
Choose Numerator
Choose denominator
Overhead rate
Predetermined overhead
Direct labor cost
Overhead rate
1,932,000
460,000
$.20
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