Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the upcoming year, the company estimated its total manufacturing overhead cost at $254,610 and total machine hours at 62,100. During the first month of operations, the company worked on three jobs and recorded the following actual direct materials cost, direct labor cost, and machine hours for each job: Job 101 Job 102 Job 103 Total Direct materials used $ 11,200 $ 7,700 $5,400 $ 24,300 Direct labor $ 17,400 $ 5,100 $4,900 $ 27,400 Machine hours 1,300 hours 2,900 hours 900 hours 5, 100 hours Job 101 was completed and sold for $51,900. Job 102 was completed but not sold. Job 103 is still in process. Actual overhead costs recorded during the first month of operations totaled $19,610. Required: 1. Calculate the predetermined overhead rate. Note: Round your answer to 2 decimal places.

Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the upcoming year, the company estimated its total manufacturing overhead cost at $254,610 and total machine hours at 62,100. During the first month of operations, the company worked on three jobs and recorded the following actual direct materials cost, direct labor cost, and machine hours for each job: Job 101 Job 102 Job 103 Total Direct materials used $ 11,200 $ 7,700 $5,400 $ 24,300 Direct labor $ 17,400 $ 5,100 $4,900 $ 27,400 Machine hours 1,300 hours 2,900 hours 900 hours 5, 100 hours Job 101 was completed and sold for $51,900. Job 102 was completed but not sold. Job 103 is still in process. Actual overhead costs recorded during the first month of operations totaled $19,610. Required: 1. Calculate the predetermined overhead rate. Note: Round your answer to 2 decimal places.

Name: Tyler Tooling Company uses a job order cost system with overhead appl
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Description: Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the upcoming year, the company estimated its total manufacturingoverhead cost at $254, 610 and total machine hours at 62, 100. Du

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter2: Job Order Costing

Section: Chapter Questions

Problem 4BE: Applying factory overhead Bergan Company estimates that total factory overhead costs will be 620,000...

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