Olympia Manufacturing uses a predetermined overhead allocation rate based on direct labor cost.At the beginning of the year,Olympia estimated total manufacturing overhead costs at $1,010,000 and total direct labor costs at $820,000.In June,Job 511 was completed.The details of Job 511 are shown below.
What is the amount of manufacturing overhead costs allocated to Job 511? (Round any percentages to two decimal places and your final answer to the nearest dollar. )
Definitions:
Operating Contribution
The portion of revenue that remains after variable expenses are subtracted, indicating how much contributes to covering fixed costs and generating profit.
Restricted Contribution
Funds given to an organization with specific conditions attached regarding their use.
Donation Revenue
Income received from giving without the expectation of receiving something in return, typically for non-profit organizations.
Restricted Fund Method
An accounting strategy used for tracking and reporting separately on resources that are restricted by donors for specific purposes.
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