Homework Answers
1.Predetermined Rate = Estimated overheads/Direct labor
= 128000/516000
= 24.80620%
i.e. 24.81%
2.As a % of direct material = Estimated overheads/Estimated Material cost
= 128000/186000
= 68.82%
Add Answer to:
A company estimates the following manufacturing costs for the next period direct labor $56.000, direct materials....
5 OS 15-6 Factory overhead rates LO P3 A company estimates the following manufacturing costs for...
5 OS 15-6 Factory overhead rates LO P3 A company estimates the following manufacturing costs for the next period direct labor, $520,000, direct materials, $182.000 and factory overhead, $144,000 Required 1. Compute its predetermined overhead rate as a percent of direct labor 2. Compute its overhead cost as a percent of direct materials Complete this question by entering your answers in the tabs below. Required 1 Compute its predetermined overhead rate as a percent direct labor Overhead Rate 1 Required:...
Help Save & Exit At the beginning of the year, a company estimates the following manufacturing...
Help Save & Exit At the beginning of the year, a company estimates the following manufacturing costs for the next period: direct labor, $528,000, direct materials, $180,000, and factory overhead, $125,000 Check Required: 1. Compute its predetermined overhead rate as a percent of direct labor. 2. Compute its overhead cost as a percent of direct materials Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Compute its overhead cost as a percent of direct...
Hamilton Company applies manufacturing overhead costs to products based on direct labor hours. The company estimates...
Hamilton Company applies manufacturing overhead costs to products based on direct labor hours. The company estimates manufacturing overhead cost for the year to be $282,000 and direct labor hours to be 20,000. Actual overhead for the year was $340,000. Required: 1. Compute the predetermined overhead rate. 2. If the company actually used 25,200 direct labor hours, how much manufacturing overhead is applied to the company's jobs? Complete this question by entering your answers in the tabs below. Required i Required...
I need help with the whole question with a solution and explanation Please and Thank you....
I need help with the whole question with a solution and explanation
Please and Thank you.
Chapter 15 Homework Help Save & Exit Submit Check my work A company estimates the following manufacturing costs for the next period: direct labor, $500,000; direct materials, $196,000, and factory overhead, $126,000. 4.44 points Required: 1. Compute its predetermined overhead rate as a percent of direct labor. 2. Compute its overhead cost as a percent of direct materials. eBook Print Complete this question by...
work Saved Help Save & exits Check my w at the beginning of the year, a...
work Saved Help Save & exits Check my w at the beginning of the year, a company estimates the following manufacturing costs for the next period: direct labor, $540,000; direct materials, $223,000; and factory overhead, $148,000. Required: 1. Compute its predetermined overhead rate as a percent of direct labor. 2. Compute its overhead cost as a percent of direct materials. Complete this question by entering your answers in the tabs below. Req 1 Reg 2 Compute its predetermined overhead rate...
Southern Rim Parts estimates its manufacturing overhead to be $409,500 and its direct labor costs to...
Southern Rim Parts estimates its manufacturing overhead to be $409,500 and its direct labor costs to be $910,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $50,000 for Job 301, $75,000 for Job 302, and $100,000 for Job 303. For the year, actual manufacturing overhead was $474,000 and total direct labor cost was $849,000. Manufacturing overhead is applied to jobs on the basis of direct labor costs using predetermined rates....
Osborn Manufacturing uses a predetermined overhead rate of $19.30 per direct labor-hour. This predetermined rate was...
Osborn Manufacturing uses a predetermined overhead rate of $19.30 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $252,830 of total manufacturing overhead for an estimated activity level of 13,100 direct labor-hours. The company actually incurred $249,000 of manufacturing overhead and 12,600 direct labor-hours during the period. ints Required: 1. Determine the amount of underapplied or overapplied manufacturing overhead for the period. 2. Assume that the company's underapplied or overapplied overhead is closed to Cost...
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs...
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during 2017: direct materials costs, $780,000; direct labor costs, $4,300,000; and factory overhead costs applied, $2,150,000. 1. Determine the company's predetermined overhead rate for 2017 2. Assuming that the company's $84,000 ending Work in Process Inventory account for 2017 had $33,000 of direct labor costs, determine the inventory's direct materials costs. 3. Assuming that the company's $620,000 ending Finished Goods Inventory account for 2017...
Southern Rim Parts estimates its manufacturing overhead to be $432,000 and its direct labor costs to...
Southern Rim Parts estimates its manufacturing overhead to be $432,000 and its direct labor costs to be $1,080,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $67,000 for Job 301, $92,000 for Job 302, and $185,000 for Job 303. For the year, actual manufacturing overhead was $389,000 and total direct labor cost was $832,000. Manufacturing overhead is applied to jobs on the basis of direct labor costs using predetermined rates....
Quiz Tech Solutions is a consulting firm that uses a job-order costing system. Its direct materials...
Quiz Tech Solutions is a consulting firm that uses a job-order costing system. Its direct materials consist of hardware and software that it purchases and installs on behalf of its clients. The firm's direct labor includes salaries of consultants that work at the client's job site and its overhead consists of costs such as depreciation, utilities, and insurance related to the office headquarters as well as the office supplies that are consumed serving clients. Tech Solutions computes its predetermined overhead...
5 OS 15-6 Factory overhead rates LO P3 A company estimates the following manufacturing costs for the next period direct labor, $520,000, direct materials, $182.000 and factory overhead, $144,000 Required 1. Compute its predetermined overhead rate as a percent of direct labor 2. Compute its overhead cost as a percent of direct materials Complete this question by entering your answers in the tabs below. Required 1 Compute its predetermined overhead rate as a percent direct labor Overhead Rate 1 Required:...
Help Save & Exit At the beginning of the year, a company estimates the following manufacturing costs for the next period: direct labor, $528,000, direct materials, $180,000, and factory overhead, $125,000 Check Required: 1. Compute its predetermined overhead rate as a percent of direct labor. 2. Compute its overhead cost as a percent of direct materials Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Compute its overhead cost as a percent of direct...
Hamilton Company applies manufacturing overhead costs to products based on direct labor hours. The company estimates manufacturing overhead cost for the year to be $282,000 and direct labor hours to be 20,000. Actual overhead for the year was $340,000. Required: 1. Compute the predetermined overhead rate. 2. If the company actually used 25,200 direct labor hours, how much manufacturing overhead is applied to the company's jobs? Complete this question by entering your answers in the tabs below. Required i Required...
I need help with the whole question with a solution and explanation
Please and Thank you.
Chapter 15 Homework Help Save & Exit Submit Check my work A company estimates the following manufacturing costs for the next period: direct labor, $500,000; direct materials, $196,000, and factory overhead, $126,000. 4.44 points Required: 1. Compute its predetermined overhead rate as a percent of direct labor. 2. Compute its overhead cost as a percent of direct materials. eBook Print Complete this question by...
work Saved Help Save & exits Check my w at the beginning of the year, a company estimates the following manufacturing costs for the next period: direct labor, $540,000; direct materials, $223,000; and factory overhead, $148,000. Required: 1. Compute its predetermined overhead rate as a percent of direct labor. 2. Compute its overhead cost as a percent of direct materials. Complete this question by entering your answers in the tabs below. Req 1 Reg 2 Compute its predetermined overhead rate...
Southern Rim Parts estimates its manufacturing overhead to be $409,500 and its direct labor costs to be $910,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $50,000 for Job 301, $75,000 for Job 302, and $100,000 for Job 303. For the year, actual manufacturing overhead was $474,000 and total direct labor cost was $849,000. Manufacturing overhead is applied to jobs on the basis of direct labor costs using predetermined rates....
Osborn Manufacturing uses a predetermined overhead rate of $19.30 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $252,830 of total manufacturing overhead for an estimated activity level of 13,100 direct labor-hours. The company actually incurred $249,000 of manufacturing overhead and 12,600 direct labor-hours during the period. ints Required: 1. Determine the amount of underapplied or overapplied manufacturing overhead for the period. 2. Assume that the company's underapplied or overapplied overhead is closed to Cost...
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during 2017: direct materials costs, $780,000; direct labor costs, $4,300,000; and factory overhead costs applied, $2,150,000. 1. Determine the company's predetermined overhead rate for 2017 2. Assuming that the company's $84,000 ending Work in Process Inventory account for 2017 had $33,000 of direct labor costs, determine the inventory's direct materials costs. 3. Assuming that the company's $620,000 ending Finished Goods Inventory account for 2017...
Southern Rim Parts estimates its manufacturing overhead to be $432,000 and its direct labor costs to be $1,080,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $67,000 for Job 301, $92,000 for Job 302, and $185,000 for Job 303. For the year, actual manufacturing overhead was $389,000 and total direct labor cost was $832,000. Manufacturing overhead is applied to jobs on the basis of direct labor costs using predetermined rates....
Quiz Tech Solutions is a consulting firm that uses a job-order costing system. Its direct materials consist of hardware and software that it purchases and installs on behalf of its clients. The firm's direct labor includes salaries of consultants that work at the client's job site and its overhead consists of costs such as depreciation, utilities, and insurance related to the office headquarters as well as the office supplies that are consumed serving clients. Tech Solutions computes its predetermined overhead...
Most questions answered within 3 hours.
-
3. American and Japanese workers can each produce 4 cars a
year. An American worker can...
asked 1 minute from now -
On October 1, 20X1, a company purchased a piece of land by
agreeing to pay the...
asked 11 minutes ago -
Jamie is doing a survey at her school about whether the students
feel the cafeteria food...
asked 16 minutes ago -
What are the roles of 3' and 5' untranslated regions in
mRNAs?
asked 17 minutes ago -
A domestic television receives antenna delivers a sky noise
power of -105 dBm to a matched...
asked 16 minutes ago -
What do you think are the chemical reactions involved in the
breathalyzer tests administered to potentially...
asked 31 minutes ago -
A random sample of 120 observations produces a mean of
38.2 from a population with a...
asked 38 minutes ago -
The average area of land burned by forest fires every year in
Canada is 2.5 million...
asked 40 minutes ago -
36. The basic difference between government bureaus and market
firms is that bureaus:
a. can...
asked 40 minutes ago -
java
- A recursive method findR() to search for a number in list
(ArrayList)
- A...
asked 58 minutes ago -
Which of the following is an example of a screen against adverse
selection? [Mark All That...
asked 57 minutes ago -
A worker drives a 0.560 kg spike into a rail tie with a 2.76 kg
sledgehammer....
asked 1 hour ago