Script Company uses a job costing accounting system for its production costs. A predetermined overhead rate based on direct labor- hours is used to apply overhead to individual jobs. An estimate of...


Script Company uses a job costing accounting system for its production costs. A predetermined overhead rate based on direct labor- hours is used to apply overhead to individual jobs. An estimate of overhead costs at different volumes was prepared for the current year as follows. Direct labor-hours Variable overhead costs Fixed overhead costs Total overhead 30,100 $301,000 500, 500 $801,500 41,500 $415,000 500, 500 $915,500 51,500 $ 515,000 500, 500 $1,015,500 The expected volume is 41.500 direct labor hours for the entire year. The following information is for October when jobs 1011 and 1015 were completed. $ 43,100 91,800 229,000 Inventories, October 1 Raw materials and supplies Work in process (Job 1011) Finished goods Purchases of raw materials and supplies Raw materials Supplies Materials and supplies requisitioned for production Job 1011 Job 1015 Job 1017 Supplies 630,900 30,800 279,400 234,400 45,400 25,000 634,200 5 Machine hours (PH) Job 1011 Job 1015 Job 1017 Direct labor-hours () ob 1011 6,209 H 6,112 3,720 14.060 OCH <><>

May 26, 2022
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