Predetermined Overhead rate = Estimated overhead/Estimated labor hours
= 735,000/35,000
= 21 per dlh
Applied overhead = (21*40,000) = 840,000
Over-applied overhead 60,000
Crain Company budgeted 35,000 direct labor hours and incurred 40,000 of actual direct labor hours. It...
Victryl Company applies overhead based on direct labor hours. At the beginning of the year, Victryl estimates overhead to be $700,000, machine hours to be 200,000, and direct labor hours to be 35,000. During February, Victryl has 5,000 direct labor hours and 10,000 machine hours. If the actual overhead for February is $98,300, what is the overhead variance, and is it overapplied or underapplied? a. $1200 underapplied Ob. $1,000 underapplied Oc. $600 overapplied Od, $800 overapplied e. $1,700 overapplied Ned...
A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $482,910 and direct labor hours would be 48,291. Actual factory overhead costs incurred were $520,224, and actual direct labor hours were 54,190. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year? a. $58,990 underapplied b. $21,676 overapplied c. $541,900 overapplied d. $21,676 underapplied A manufacturing company applies factory...
Moscone Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcomingyear. At the beginning of the most recently completed year, the company estimated the labor-hours for theupcoming year at 78,000 labor-hours. The estimated variable manufacturing overhead was $9.99 per labor-hourand the estimated total fixed manufacturing overhead was $985,920. The actual manufacturing overhead for theyear was $1,812,700 and the company’s direct labor workers worked a total of 80,000 labor-hours.Required:1. Compute the company's predetermined overhead rate.2. Compute the amount...
Mackinaw Manufacturing Corporation uses a predetermined overhead rate based on direct labor hours to apply manufacturing overhead to jobs. Last year, the Corporation worked 17,500 actual direct labor-hours and incurred $148.300 of actual manufacturing overhead cost. They had estimated at the beginning of the year that 16,300 direct labor hours would be worked and S146700 of manufacturing overhead costs incurred. The Corporation had calculated a predetermined overhead rate of $9 per direct labor-hour. The Corporation's manufacturing overhead for the year...
Amy Corporation, which applies manufacturing overhead on the basis of direct labor hours, has provided the following data for its most recent year of operations. Estimated manufacturing overhead Estimated direct labor hours Actual manufacturing overhead Actual direct labor hours $80,080 1,100 $76,800 1,060 The estimates of the manufacturing overhead and of direct labor hours were made at the beginning of the year. The applied manufacturing overhead for the year is closest to Multiple Choke $75,089 0 $77,168 576.800 $76.450 Magnolia...
Question number 3: Cooper's Company manufactures custom engines for use in the lawn and garden equipment industry. The company applies manufacturing overhead based on machine hours. Selected data for costs incurred for Job 798 are as follows: Direct materials used........... ..$4,200 Direct labor hours worked........... .............. 280 Machine hours used... .......... 425 Direct rate per hour.......... $18 Predetermined overhead rates based on machine hours............ $20 What is the total manufacturing cost of Job 798? a. $17,740 b. $ 5,040 c....
12 A company uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Last year, the company worked 61,000 actual direct labor-hours and incurred $552,000 of actual manufacturing overhead cost. The company had estimated that it would work 62,000 direct labor-hours during the year and incur $465,000 of manufacturing overhead cost. The company's manufacturing overhead cost for the year was: (Round your intermediate calculations to 2 decimal places.) Multiple Choice overapplied by $94,500 underapplied by...
Osborn Manufacturing uses a predetermined overhead rate of
$19.20 per direct labor-hour. This predetermined rate was based on
a cost formula that estimates $249,600 of total manufacturing
overhead for an estimated activity level of 13,000 direct
labor-hours. The company actually incurred $247,000 of
manufacturing overhead and 12,500 direct labor-hours during the
period. 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 of...
A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $367,308 and direct labor hours would be 40,812. Actual factory overhead costs incurred were $439,214, and actual direct labor hours were 50,835. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year? a.$18,301 underapplied b.$457,515 overapplied c.$90,207 underapplied d.$18,301 overapplied
A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $426,870 and direct labor hours would be 47,430. Actual factory overhead costs incurred were $462,974, and actual direct labor hours were 53,585. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year? a.$55,395 underapplied b.$482,265 overapplied c.$19,291 underapplied d.$19,291 overapplied