In December 2014, Shire Computer’s management establishes the 2015 predetermined overhead rate based on direct labor cost. The information used in setting this rate includes estimates that the company will incur $888,000 of overhead costs and $600,000 of direct labor cost in year 2015. During March 2015, Shire began and completed Job No. 13-56.
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| 1. | What is the predetermined overhead rate for year 2015? |
| 2. |
Compute the job cost sheet. (Round your answer to the nearest dollar amount.)
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2.
| Direct materials | $ | 14,450 |
| Direct labor | 3,230 | |
| Overhead ($3,230 × 148%) | 4,781 | |
| Total cost of Job No. 13-56 | $ | 22,461 |
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