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A Company, which applies overhead at the rate of 180% of direct material cost, began work...

A Company, which applies overhead at the rate of 180% of direct material cost, began work on job no. 101 during June. The job was completed in July and sold during August, having accumulated direct material and labor charges of $40,000 and $27,000, respectively. On the basis of this information, the total overhead applied to job no. 101 amounted to:

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Answer #1

Direct Materials = $40,000
Direct Labor = $27,000

Overhead Applied = 180% * Direct Materials
Overhead Applied = 180% * $40,000
Overhead Applied = $72,000

The total overhead applied to job no. 101 amounted to $72,000

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