E3-25A Analyze manufacturing overhead (Learning Objectives 3 & 5) Smith Foundry in Columbus, Ohio, uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the begin- ning of the year, the company expected to incur the following:

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Casey carpet manufacturers carpet in seven processes: spinning, dyeing, plying, spooling, tufting, latexing, and shearing.

Kapoor Catering Co. uses a job cost system. Its activities in November 2020, the first month of operation, were as follows: Information State University On-the-Go Home Precious Pre-school Direct Materials Cost (food) $54,100 $35,100 $79,700 Direct Labor Cost $43,600 $41,400 $53,500 Labor Hours 3,210 3,690 4,120   The company applies overhead at a rate of $20.00 per labor hour. It completed all of its jobs in November. Total revenue for the three jobs amounted to $401,200. The allocated overhead for the month was $149,800, of which $129,200 should be credited to accounts payable and $41,700 should be credited to Accumulated Depreciation.

a.  REQUIREMENTS #2 and #3 ONLY of Exercise 4-49 (picture 2).  Assume Direct Labor workers make $20 per hour, so with the given labor cost per job, you can determine the number of hours worked.  CHANGE the Exercise to say that Overhead is applied at the rate of $32 per direct labor hour.  ALSO CHANGE to say that Job #39 and Job #40 were completed and sold, while Job #41 and Job #42 are complete but not sold, and Job #43 is not completed yet. b.  Use the information in Problem 4-53 (picture 2) to prepare journal entries for the month of July with the following CHANGES.  First, assume that the company uses a plantwide overhead rate based on direct labor dollars.  Also assume that estimated information for the year includes Direct labor dollars of $1,642,000.  Finally, assume that the company sells its jobs at a selling price equal to (cost  +   25% of cost markup).

Date + + + + + I + ī + ||| I General Journal Account/Explanation Page G2 PR Debit Credit

Kapoor Catering Co. uses a job cost system. Its activities in November 2020, the first month of operation, were as follows: Information State University On-the-Go Home Precious Pre-school Direct Materials Cost (food) $55,900 $37,200 $79,700 Direct Labor Cost $43,500 $38,800 $53,100 Labor Hours 3,360 3,550 3,810   The company applies overhead at a rate of $16.00 per labor hour. It completed all of its jobs in November. Total revenue for the three jobs amounted to $406,800. The actual overhead for the month was $148,400, of which $118,600 should be credited to accounts payable and $41,500 should be credited to Accumulated Depreciation.Determine the costs that should be assigned to each of the jobs.   State University On-the-Go Home Precious Pre-school TOTAL Direct Materials         Direct Labor         Applied Overhead         Total Job Cost         Manufacturing Overhead Debit Credit