Question

The following data (in thousands of dollars) have been taken from the accounting records of Karling...

The following data (in thousands of dollars) have been taken from the accounting records of Karling Corporation for the year just ended.

Direct labour $990
Direct materials used $90
Rent on factory building $170
Depreciation on cars used by sales staff $120
Depreciation on corporate jet $200
Salary of factory janitor $230
Rent on sales facility expenses $150
Rent on administrative facility $140
Work-in-process inventory, beginning $70
Work-in-process inventory, ending $50
Depreciation on machines in factory $220
Salary of sales staff $160

What is overhead for the year?

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Answer #1

Rent on factory building = $170

Salary of factory janitor = $230

Depreciation on machines in factory = $220

Total overheads = Rent on factory building + Salary of factory janitor + Depreciation on machines in factory

= 170+230+220

= $620

overhead for the year = $620

Direct labor and direct materials used are components of prime cost.

Depreciation on cars used by sales staff,Depreciation on corporate jet, Rent on sales facility expenses, Rent on administrative facility and Salary of sales staff are selling and administrative expenses.

Kindly comment if you need further assistance. Thanks

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