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value 10.00 points In December 2010, Kent Computer’s management establishes the year 2011 predetermined overhead rate based on direct labor cost. The information used in setting this rate includes estimates that the company will incur $756,000 of overhead costs and $540,000 of direct labor cost in year 2011. During March 2011, Kent began and completed Job No. 13-56 I. What is the predetermined overhead rate for year 2011 ? (Omit the ‘%” sign in your response.) Predetermined overhead rate 2. Use the information on the following job cost sheet. JOB COST SHEET Customer’s Name Keiser Co Job No. 13-56 Job Description 5 color monitors-21 inch Overhead Costs Applied Direct Materials Direct Labor Date Requisition No. Amount Time-Ticket No. Amount Rate Amount Mar. 8 Mar. 11 Mar. 18 4-129 4-142 4-167 $5,000 7,050 3,550 T-306 T-432 T-456 $ 640 1,280 1,280 Totals Determine the total cost of the job. (Omit the “S” sign in your response.) Total cost of the job
Expert Answer
since multiple questions are posted the first appearing questions are answered below:
15. Kent computer problem
1. Predetermine overhead for the year 2011.
estimated overhead cost / estimated direct labour cost => $756,000 / $540,000 =>140%.
2.Total cost of the job.
| Date | Requisition | Amount | Time ticket No | Amount | Rate | Amount |
| Mar 8 | 4-129 | 5,000 | T-306 | $640 | 140% | $896 |
| mar 11 | 4-142 | 7,050 | T-432 | $1,280 | 140% | $1,792 |
| mar 18 | 4-167 | 3,550 | T-456 | $1,280 | 140% | $1,792 |
| Totals | $15,600 | $3,200 | $4,480 |
Now,
total cost of the job.
| Direct materials (5,000 +7,050,+3,550) | $15,600 |
| Direct labour (640 +1280 +1280) | $3,200 |
| Overhead (3,200 *140%) | $4,480 |
| Total cost of the job | $23,280 |
