Final answer:
To determine the amount of overhead applied to each job, we need to know the overhead rate and job details. Overhead is applied based on a rate, such as $20 per direct labor hour. Net Annual Income is calculated by subtracting taxes and deductions from the gross income, and the monthly income is then determined by dividing this figure by 12.
Step-by-step explanation:
To determine the amount of overhead applied to each job in April, we need to first understand what overhead is. In business, overhead refers to the ongoing business expenses not directly attributed to creating a product or service. This could include costs like rent, utilities, and insurance. A common method for applying overhead costs to specific jobs is through an overhead rate. This could be a predetermined rate based on historical data or a rate based on current activity levels.
For instance, if a company uses a predetermined overhead rate based on direct labor hours, and the rate is $20 per labor hour, then for a job that requires 50 labor hours, the overhead applied would be 50 hours x $20 per hour = $1,000. If more information on the overhead rate and the specifics of each job (like direct labor hours or machine hours) is provided, a more accurate calculation can be done for each job.
To calculate the Net Annual Income, taxes, social security and Medicare deductions must be subtracted from the gross annual income. Once you have this figure, you can find the monthly income by dividing the net annual income by 12.