Exercise 4-33 (Algo) Job Costing [LO 4-3, 4-4, 4-5]
Johnson Incorporated is a job-order manufacturing company that uses a predetermined overhead rate based on direct labor hours to apply overhead to individual
jobs. For the current year, estimated direct labor hours are 98,000 and estimated factory overhead is $588,000. The following information is for September of the
current year. Job A was completed during September, and Job B was started but not finished.
September 1, inventories
Materials inventory $ 8,900
Work-in-process inventory (All Job A) 34,000
Finished goods inventory 74,000
Material purchases 125,000
Direct materials requisitioned
Job A 79,000
Job B 40,500
Direct labor hours
Job A 5,600
Job B 2,100
Labor costs incurred
Direct labor ($8.00/hour) 61,600
Indirect labor 14,900
Supervisory salaries 7,400
Rental costs
Factory 8,400
Administrative offices 3,200
Total equipment depreciation costs
Factory 9,600
Administrative offices 3,700
Indirect materials used 13,400
Required:
1. What is the total cost of Job A?
2. What is the total factory overhead applied during September?
3. What is the overapplied or underapplied overhead for September?

 Required 2 Required 3 

Question

12-09-2022
Business

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Exercise 4-33 (Algo) Job Costing [LO 4-3, 4-4, 4-5]
Johnson Incorporated is a job-order manufacturing company that uses a predetermined overhead rate based on direct labor hours to apply overhead to individual
jobs. For the current year, estimated direct labor hours are 98,000 and estimated factory overhead is $588,000. The following information is for September of the
current year. Job A was completed during September, and Job B was started but not finished.
September 1, inventories
Materials inventory $ 8,900
Work-in-process inventory (All Job A) 34,000
Finished goods inventory 74,000
Material purchases 125,000
Direct materials requisitioned
Job A 79,000
Job B 40,500
Direct labor hours
Job A 5,600
Job B 2,100
Labor costs incurred
Direct labor ($8.00/hour) 61,600
Indirect labor 14,900
Supervisory salaries 7,400
Rental costs
Factory 8,400
Administrative offices 3,200
Total equipment depreciation costs
Factory 9,600
Administrative offices 3,700
Indirect materials used 13,400
Required:
1. What is the total cost of Job A?
2. What is the total factory overhead applied during September?
3. What is the overapplied or underapplied overhead for September?

 Required 2 Required 3 

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anthougo anthougo · Answer 1 · 2022-09-14T18:48:58+02:00

1. The total cost of Job A is $191,400.

2. The total factory overhead applied during September is $46,200.

3. The underapplied overhead is $7,500.

Data and Calculations:

Estimated direct labor hours = 98,000 hours

Estimated factory overhead = $588,000

Predetermined overhead rate = $6 per direct labor hour ($588,00/98,000)

September 1, inventories:

Materials inventory $ 8,900

Work-in-process inventory (All Job A) 34,000

Finished goods inventory 74,000

Material purchases 125,000

Direct materials requisitioned

Job A 79,000

Job B 40,500

Direct labor hours

Job A 5,600

Job B 2,100

Labor costs incurred:

Direct labor ($8.00/hour) 61,600

Indirect labor 14,900

Supervisory salaries 7,400

Rental costs:

Factory 8,400

Administrative offices 3,200

Total equipment depreciation costs:

Factory 9,600

Administrative offices 3,700

Indirect materials used 13,400

Production Costs:

Job A Job B Total

Work-in-process inventory $34,000 $34,000

Direct materials 79,000 $40,500 119,500

Direct labor costs 44,800 16,800 61,600

Overhead applied 33,600 12,600 46,200

Total costs $191,400 $69,900 $261,300

Overhead Costs:

Indirect labor 14,900

Supervisory salaries 7,400

Factory Rent 8,400

Factory Depreciation 9,600

Indirect materials used 13,400

Total actual overhead = $53,700

Overhead applied $46,200

Underapplied overhead $7,500

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