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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Definitions:

Socioeconomic Factors

Aspects relating to an individual's social and economic position that affect their health and well-being, such as income, education, and employment.

Health Community

A group of people and organizations working together to improve public health and wellness.

Free School Lunches

A program that provides students with lunch at no cost, typically aimed at children from low-income families to ensure they receive adequate nutrition during the school day.

Case Manager

A professional who coordinates care and services for individuals with medical, psychological, or social needs, ensuring they receive appropriate resources and support.