Determine and Use Consulting RateOxford Consulting, Inc., expects the following costs and expenses during the coming year:Direct labor (@ $20/hr.) $1,344,000Sales commissions288,0001,512,000Overheada. Compute a predetermined overhead rate applied on the basis of direct labor hours.Round to two decimal places if applicable.$0b. Prepare a general journal entry to apply overhead during an interim period when 14,000 direct labor hours were worked.General JournalDescriptionDebit◆♦0000c. What amount of overhead would be assigned to Job 325, to which $1,216 in direct labor had been charged?Round to two decimal places, if applicable.$0CreditPlease answer all parts of the question.

Name: Determine and Use Consulting RateOxford Consulting, Inc., expects the
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Description: Determine and Use Consulting RateOxford Consulting, Inc., expects the following costs and expenses during the coming year:Direct labor (@ $20/hr.) $1,344,000Sales commissions288,0001,512,000Overheada. Compute a predetermined overhead rate applied on

Estimated direct labor hours = Estimated direct labor cost / Direct labor rate per hourPredetermined…

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Oxford Consulting, Inc., expects the following costs and expenses during the coming year: Direct labor (@ $20/hr.) $1,344,000 Sales commissions Overhead a. Compute a predetermined overhead rate applied on the basis of direct labor hours. Round to two decimal places if applicable. $0 288,000 1,512,000 b. Prepare a general journal entry to apply overhead during an interim period when 14,000 direct labor hours were worked General Journal Description Debit ◆ 0 0 0 0 c. What amount of overhead would be assigned to Job 325, to which $1,216 in direct labor had been charged? Round to two decimal places, if applicable. $0 Credit Please answer all parts of the question.

Oxford Consulting, Inc., expects the following costs and expenses during the coming year: Direct labor (@ $20/hr.) $1,344,000 Sales commissions Overhead a. Compute a predetermined overhead rate applied on the basis of direct labor hours. Round to two decimal places if applicable. $0 288,000 1,512,000 b. Prepare a general journal entry to apply overhead during an interim period when 14,000 direct labor hours were worked General Journal Description Debit ◆ 0 0 0 0 c. What amount of overhead would be assigned to Job 325, to which $1,216 in direct labor had been charged? Round to two decimal places, if applicable. $0 Credit Please answer all parts of the question.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 8PB: Queen Bees Honey, Inc., estimated its annual overhead to be $110,000 and based its predetermined...

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