146. The Cavy Company accumulated 560 hours of direct labor on Job 345 and 800 hours on Job 777. The direct labor was incurred at a rate of $20 per direct labor hour for Job 345 and $21 per direct labor for Job 777. Journalize the entry to record the flow of labor costs into production. 147. During the month of April, Cavy Company incurred factory overhead as follows: Indirect materials $11,000 Factory Supervision $4,000 Utilities $500 Depreciation (factory) $700 Small tools $300 Equipment rental $750 Journalize the entry to record the factory overhead incurred during April. 148. Cavy Company estimates that total factory overhead costs will be $660,000 for the year. Direct labor hours are estimated to be 100,000. Determine (a) the predetermined factory overhead rate, (b) the amount of factory overhead applied to Job 345 if the amount of direct labor hours is 560 and Job 777 if the amount of direct labor hours is 800, and (c) prepare the journal entry to apply factory overhead in April according to the predetermined overhead rate.
146. The Cavy Company accumulated 560 hours of direct labor on Job 345 and 800 hours on Job 777. The direct labor was incurred at a rate of $20 per direct labor hour for Job 345 and $21 per direct labor for Job 777. Journalize the entry to record the flow of labor costs into production. 147. During the month of April, Cavy Company incurred factory overhead as follows: Indirect materials $11,000 Factory Supervision $4,000 Utilities $500 Depreciation (factory) $700 Small tools $300 Equipment rental $750 Journalize the entry to record the factory overhead incurred during April. 148. Cavy Company estimates that total factory overhead costs will be $660,000 for the year. Direct labor hours are estimated to be 100,000. Determine (a) the predetermined factory overhead rate, (b) the amount of factory overhead applied to Job 345 if the amount of direct labor hours is 560 and Job 777 if the amount of direct labor hours is 800, and (c) prepare the journal entry to apply factory overhead in April according to the predetermined overhead rate.
Job%20Order%20Costing-01.docx