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

question 83

Essay

Switech Technology's work in process inventory on June 1 has a balance of $24,500 representing Job No. 95. During June, $67,500 of direct materials were requisitioned for Job No. 95 and $4,300 of direct labour cost was incurred on Job No. 95. Manufacturing overhead is allocated at a rate of $15.00 per direct labour hour. Actual manufacturing overhead costs incurred in June amounted to $20,000. There were 600 actual direct labour hours worked in June. No new jobs were started during June. Job No. 95 is completed on June 28.
A) Determine the total cost assigned to Job No. 95.
B) Is manufacturing overhead overallocated or underallocated for the month of June? By how much?

• A) Determine the total cost assigned to Job No. 95.
• B) Is manufacturing overhead overallocated or underallocated for the month of June? By how much?

---

Definitions:

Ticket Prices

The cost at which an individual can purchase a ticket to gain entry to an event, such as a concert, movie, or sports game.

Input Costs

Expenses incurred by firms for purchasing the raw materials, labor, and other inputs required for the production of goods or provision of services.

Gasoline

A combustible fluid obtained from petroleum, mainly utilized as a fuel for internal combustion engines.

Supply Decrease

A reduction in the quantity of a good that producers are willing or able to sell, often due to factors such as increased production costs, taxation, or supply chain disruptions.