Omega Technology's Work in Process Inventory on June 1 Has

question 34

Essay

Omega Technology's work in process inventory on June 1 has a balance of $27,200 representing Job No. 36. During June, $68,900 of direct materials were requisitioned for Job No. 36 and $5,500 of direct labor cost was incurred on Job No. 36. Manufacturing overhead is allocated at a rate of $16.00 per direct labor hour. Actual manufacturing overhead costs incurred in June amounted to $15,000. There were 825 actual direct labor hours worked in June. No new jobs were started during June. Job No. 36 is completed on June 28.
a. Determine the total cost assigned to Job No. 36.
b. Is manufacturing overhead overallocated or underallocated for the month of June? By how much?

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