Required information The following information applies to the questions displaye

Question

Required information The following information applies to the questions displayed below) Capri Boat Corporation uses a job order cost system and applies overhead based on a percentage of direct labor cost Cost flows through the Work in Process Inventory account during March are given below Beginning Balance Direct Materials Direct Labor Overhead Ending Balance 0 Transferred Out 195,000 57,000 100,000 120,600 82,800 Only Job #007 was still in process at the end of March and this job had been charged with $16,000 in direct materials cost predetermined overhead application rate at Capri Boat is what percentage of direct labor costs? Multiple Choice 120%, 68%. 240%. 83%.

Explanation / Answer

Solution:

Predetermined overhead rate =overhead applied/direct bor cost =120000/100000=120

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