Problem
Southern Rim Parts estimates its manufacturing overhead to be $332, 500 and its direct labor costs to be $950,000 for year 1. The first three jobs that southern Rim worked on had actual direct labor cost of $54,000 for Job 301, $79,000 for Job 302, and $120,000 for Job 303. For the year, actual manufacturing overhead was $454,000 and total direct labor cost was $845,000. Manufacturing overhead is applied to jobs on the basis of direct labor costs using predetermined rates.
Required:
How much overhead was assigned to each of the three jobs, 301, 302, and 30?