Question:
Job-Order Costing Variables
On July 1, Job 46 had a beginning balance of $740. During July, prime costs added to the job totaled $620. Of that amount, direct materials were three times as much as direct labor. The ending balance of the job was $1,600.
Required:
1. What was overhead applied to the job during July?
$ 240
2. What was direct materials for Job 46 for July? Direct labor? If rounding is required, round your answers to the nearest cent.
|
Direct labor
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$ 155
|
|
Direct materials
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$ 465
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3. Assuming that overhead is applied on the basis of direct labor cost, what is the overhead rate for the company? Round your answer to the nearest whole percent.
%
I cannot seem to get number 3, Here is a hints from the professor:
3. Divide overhead by the direct labor for the rate.