compute the predetermined overhead rate and during the year, yancey produced a f

Question

compute the predetermined overhead rate and during the year, yancey produced a film titled you can say that again that incurred the following costs:
-direct material $1,316,000
-direct labor cost $2,523,000

? ACC121TentativeSchedul X inbox 43) ktore02@e x MGant organization to r X Yancey Productions is ar.x https: /newconnect.mheducation.com/flow/connect.htmi nework Help Sa costumes and props, Its direct labor includes each film's actors, directors, and extras. The company's overhead costs include items such as utiues, depreciation of equipment, senior management salaries, and wages of maintenance workers. Yancey applies its overhead cost to fims based on direct labor-dollars At the beginning of the year. Yancey made the following estimates Direct labor do lars to support all productions S 8,418,880 S 5,846,00 8.28 Fixed overhead cost Variable overhead cost per direct labor-dollar nces Required: 1. Compute the predetermined overhead rate 2 During the yea r. Yancey produced a film titled You Can Say That Again that incurred the following costs Direct materials Direct labor cost 1,316,800 s 2,523,0e0 Compute the total job cost for this particular fim Complete the question by entering your answers in the tabs given below. Prey, 10f 5 Next > 9 Connect. Google Ch… ?Booki . Excel (produc xu Ercel (Product Activat- AVG AntiVirus

Explanation / Answer

1) Calculation of Predetermined Overhead rate Working Amount Direct Labour Dollars to support all Production A $ 8,410,000.00 Fixed Overhead Cost B $ 5,046,000.00 FixedOverhead Cost per Direct Labour Dollar C=B/A $                   0.60 Variable Overhead Cost per Direct Labour Dollar D $                   0.20 Predetermined Overhead rate E=C+D $                   0.80 2) Calculation of Total Job Cost Working Amount Direct Material $ 1,316,000.00 Direct Labour Cost $ 2,523,000.00 Variable Overhead Cost (2523000*0.2) $      504,600.00 FixedOverhead Cost (2523000*0.8) $ 2,018,400.00 Total Job Cost $ 6,362,000.00

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