Homework Answers
1) Overhead rate = 100000/20000 = 5 per hour
Applied overhead = 21000*5 = 105000
Actual overhead = 110250
Under applied overhead = 110250-105000 = 5250
So answer is d) $5250 under applied
2) Overhead rate = 100000/20000 = $5
So answer is b) $5.00
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1. Compute the underapplied or overapplied overhead.
2. Assume that the company closes any underapplied or
overapplied overhead to Cost of Goods Sold. Prepare the appropriate
journal entry.
3. Assume that the company allocates any underapplied or
overapplied overhead proportionally to Work in Process, Finished
Goods, and Cost of Goods Sold. Prepare the appropriate journal
entry.
4. How much higher or lower will net operating income be if the
underapplied or overapplied overhead is allocated to Work in
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1a) Compute the underapplied or overapplied overhead. b) Assume that the company closes any underapplied or...
1a) Compute the underapplied or overapplied overhead.
b) Assume that the company closes any underapplied or
overapplied overhead to Cost of Goods Sold. Prepare the appropriate
journal entry.
c) Assume that the company allocates any underapplied or
overapplied overhead proportionally to Work in Process, Finished
Goods, and Cost of Goods Sold. Prepare the appropriate journal
entry.
d) How much higher or lower will net operating income
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Answer All Questions: 1. Compute the company's predetermined overhead rate. 2. Compute the underapplied or overapplied...
Answer All Questions:
1. Compute the company's predetermined overhead
rate.
2. Compute the underapplied or overapplied
overhead.
3. Assume that the company closes any underapplied or
overapplied overhead directly to Cost of Goods Sold. Prepare the
appropriate journal entry.
4. Assume that the company allocates any underapplied or
overapplied overhead to Work in Process, Finished Goods, and Cost
of Goods Sold on the basis of the amount of overhead applied that
remains in each account at the end of the...
Given the information shown below answer the questions below: Actual manufacturing overhead Estimated manufacturing overhead Actual...
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help me do the journal entry
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1. Compute the underapplied or overapplied overhead.
2. Assume that the company closes any underapplied or
overapplied overhead to Cost of Goods Sold. Prepare the appropriate
journal entry.
3. Assume that the company allocates any underapplied or
overapplied overhead proportionally to Work in Process, Finished
Goods, and Cost of Goods Sold. Prepare the appropriate journal
entry.
4. How much higher or lower will net operating income be if the
underapplied or overapplied overhead is allocated to Work in
Process, Finished...
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1a) Compute the underapplied or overapplied overhead.
b) Assume that the company closes any underapplied or
overapplied overhead to Cost of Goods Sold. Prepare the appropriate
journal entry.
c) Assume that the company allocates any underapplied or
overapplied overhead proportionally to Work in Process, Finished
Goods, and Cost of Goods Sold. Prepare the appropriate journal
entry.
d) How much higher or lower will net operating income
be if the underapplied or overapplied overhead is allocated to Work
in Process, Finished Goods,...
PROBLEM 3-12 Predetermined Overhead Rate; Disposing of Underapplied or Overapplied Overhead LO3-4 I uzadis Company makes furniture using the latest automated technology. The company uses a job-order costing system and applies manufacturing overhead cost to products on the basis of machine-hours. The predetermined overhead rate was based on a cost formula that estimates $900.000 of total manufacturing overhead for an estimated activity level of 75,000 machine-hours. During the year, a large quantity of furniture on the market resulted in cutting...
Answer All Questions:
1. Compute the company's predetermined overhead
rate.
2. Compute the underapplied or overapplied
overhead.
3. Assume that the company closes any underapplied or
overapplied overhead directly to Cost of Goods Sold. Prepare the
appropriate journal entry.
4. Assume that the company allocates any underapplied or
overapplied overhead to Work in Process, Finished Goods, and Cost
of Goods Sold on the basis of the amount of overhead applied that
remains in each account at the end of the...
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help me do the journal entry
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