1.How much manufacturing overhead was incurred during the year? Is manufacturing overhead underallocated or overallocated at the end of the year? By how much?2.Were the jobs overcosted or undercosted? By how much?Manufacturing overhead costs. . . . . .$630,000Direct labor cost. . . . . . . . . . . . . . . . . .$1,550,000Machine hours. . . . . . . . . . . . . . . . . . . .90,000 At the end of the year, the company had actually incurred the following: Direct labor cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$1,220,000Depreciation on manufacturing plant and equipment. . . .$500,000Property taxes on plant. . . . . . . . . . . . . . . . . . . . . . . . . .$21,000Sales salaries. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$25,000Delivery drivers' wages. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$17,000Plant janitors' wages. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$8,500Machine hours. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .54,500 hours

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Description: 1.How much manufacturing overhead was incurred during the year? Is manufacturing overhead underallocated or overallocated at the end of the year? By how much?2.Were the jobs overcosted or undercosted? By how much?Manufacturing overhead costs. .

Manufacturing overheads are the common costs incurred by the entity which has to be allocated to…

Answered: ufacturing overhead was incurred during…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 7EA: A company estimates its manufacturing overhead will be $750,000 for the next year. What is the...

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1.	How much manufacturing overhead was incurred during the year? Is manufacturing overhead underallocated or overallocated at the end of the year? By how much?
2.	Were the jobs overcosted or undercosted? By how much?

Manufacturing overhead costs. . . . . .	$630,000
Direct labor cost. . . . . . . . . . . . . . . . . .	$1,550,000
Machine hours. . . . . . . . . . . . . . . . . . . .	90,000

At the end of the year, the company had actually incurred the following:

Direct labor cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$1,220,000
Depreciation on manufacturing plant and equipment. . . .	$500,000
Property taxes on plant. . . . . . . . . . . . . . . . . . . . . . . . . .	$21,000
Sales salaries. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$25,000
Delivery drivers' wages. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$17,000
Plant janitors' wages. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$8,500
Machine hours. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	54,500 hours

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