Q1. Kuzuck Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
Beginning work in process inventory:
Units in beginning work in process inventory
1,050
Materials costs
$8,400
Conversion costs
$6,800
Percent complete with respect to materials
65%
Percent complete with respect to conversion
30%
Units started into production during the month
16,200
Units transferred to the next department during the month
15,300
Materials costs added during the month
$151,359
Conversion costs added during the month
$250,516
Ending work in process inventory:
Units in ending work in process inventory
1,950
Percent complete with respect to materials
60%
Percent complete with respect to conversion
20%
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to?
Q2. Baker Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $88,480 and 2,800 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $90,480 and actual direct labor-hours were 2,700.
The overhead for the year was?