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1. Calculation of Predetermined Overhead rate with direct labor dollars as basis: $8,230,000 Estimated Direct labor-dollars Variable overhead cost per direct labor-dollar S0.14 Variable Overhead Cost Fixed overhead cost = $8,230,000 x $0, 14-$1,152,200 $4,938,000 Total estimated overhead cost Fixed Overhead Cost + Variable Overhead Cost $4,938,000 $1,152,200 - $6,090,200 Total estimated overhead Cost $6,090,200 $8,230,000 Predetermined overhead rate = $0.74 per direct labor dollar Total direct labor cost Predetermined Overhead rate - S0.74 per DL Note -Predetermined Overhead Rate is calculated by using estimated amounts...
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Total Job Cost Amount Direct Materials S1,422,000 Direct Labor Cost S2,469,000 $1,827,060 I$2,469,000x S0.74 S5,718,0610 $1,422,000+$2,469,000+ $1,827,060] Overhead applied [Direct labor Cost x Predetermined Overhead Rate] Total Job Cost Material Cost+ Labor Cost+ Overhead applied]
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