The Work in Process Inventory Account for Corbett Company for the Month

question 15

Essay

The Work in Process Inventory account for Corbett Company for the month ended June 30 appears below.
$$\begin{array}{l}\text { Work in Process Inventory }\\\begin{array} { l r | l r } \hline \text { Beginging Balance } & 0 & \text { Completed } & 135,800 \\\text { Direct Materials } & 38,200 & & \\\text { Direct Labor } & 48,000 & \\\text { Overhead } & 86,400 &\end{array}\end{array}$$
Overhead is applied based on direct labor dollars.Direct material costs for the one job remaining in work in process on June 30 was $12,300.
a. What was the overhead rate used to apply overhead to jobs?
b. Determine the amount of direct labor charged to the one remaining job.

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Definitions:

Dichromatic Vision

A form of color vision deficiency where a person can perceive only two of the three basic colors.

Afterimages

Visual illusions that occur after looking at an object intensely and then seeing its complement or a faint copy elsewhere.

Ganglion Axons

Refers to the nerve fibers originating from a ganglion, which is a collection of neuron cell bodies, conveying information in the nervous system.

Optic Nerve

A nerve located in the skull that is essential for transferring visual signals from the retina to the brain.