Homework Answers
| 26. Option A | |
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27. Overhead applied = 20,000*125% = 25,000 Option C |
|
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28. Total factory overhead = 4000+8500+12800 = 25300 Option B |
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2 pts Question 26 The rate established at the beginning of a period that uses estimated...
Question 45 2 pts A company's prime costs total $3,000,000 and its conversion costs total $7,000,000.if...
Question 45 2 pts A company's prime costs total $3,000,000 and its conversion costs total $7,000,000.if direct materials are $1,000,000 and factory overhead is $5,000,000, then direct labor is: O $4,000,000 O$14,000,000. O$2,000,000 O$1,000,000. O$3,000,000 estion 46 Cost information for the year Asteroid Industries accumulated the following cost information for the year 2 pts Direct materials Indirect materials $16,000 4,000 Indirect labor 8,500 Factory depreciation 12,800 Direct labor 37,000 Using the above information, total factory overhead costs equal: O $78,300...
31) Asteroid Industries accumulated the following cost information for the year: Direct materials Indirect materials Indirect...
31) Asteroid Industries accumulated the following cost information for the year: Direct materials Indirect materials Indirect labor Factory depreciation $16,000 4,000 8,500 12,800 37,000 Direct labor Using the above information, total factory A) $53,000. B) $25,300. e above information total factory overhead costs would be: C) $78,300. D) $16,800. E) $12,800 ne overhead cost applied to a job during a period is recorded with a credit to Factory Overhead and a debit to: A) Work in Process Inventory. B) Cost...
The predetermined overhead allocation rate for Freestyle, Inc., is based on estimated direct labor costs of $400,00...
The predetermined overhead allocation rate for Freestyle, Inc., is based on estimated direct labor costs of $400,000 and estimated factory overhead of $500,000. Actual costs incurred were: Direct materials. $250,000 400,000 55,000 125,000 50,000 Direct labor Indirect materials....... Indirect labor............................... Sales commissions............. ..... Factory depreciation................. ......... Property taxes, factory.. Factory utilities..... Advertising ...... Factory equipment rental 170,000 15,000 35,000 62,500 100,000 Calculate the predetermined overhead rate and calculate the overhead applied to production during the year (6 points). A. Predetermined...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor $53,000 $ 12,200 73,000 72,000 25,300 55,600 230,000 385,000 35,000 100,000 140,000 1,600,000 Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct...
1. in December 2018, Mentor Company's management team estimated next year's total direct labor cost assuming...
1. in December 2018, Mentor Company's management team estimated next year's total direct labor cost assuming 50 persons working an average of 2.000 hours each at an average hourly rate of $25. They also estimated the following cost for 2019: Classify the following cost as either: Direct Materials Overhead Period costs Indirect labor $320,000 Administrative office rent - $75,000 Sales expenses - $45,000 Administrative salaries $125,000 Factory supervision $250,000 Rent on factory building $150,000 Factory utilities $80,000 Factory insurance $70,000...
28) Comet Company accumulated the following account infomation for the year: 28) Beginning raw materials inventory6,000...
28) Comet Company accumulated the following account infomation for the year: 28) Beginning raw materials inventory6,000 Indirect materials cost Indirect labor cost Maitenance of factory equipmen 2,000 5,000 2,800 Direct labor cost Using the above information, total factory overhead costs would be: D) S15,800 A) $ 16,800. B) $13,000. C) $9.800 E) $7,800. 29) Managerial accounting information 29) A) Can be used for control purposes but not for planning purposes. B) Is used mainly by external users. C) Is generally...
Need help with question 2 .... The company uses a predetermined overhead rate of $27 per...
Need help with question 2 ....
The company uses a predetermined overhead rate of $27
per machine-hour to apply overhead cost to jobs. A total of 21,500
machine-hours were used during the year.
ework Problems The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred s 16,800 148,000 9,800 88,000...
At the beginning of the year, Infodeo established its predetermined overhead rate for movies produced during...
At the beginning of the year, Infodeo established its predetermined overhead rate for movies produced during the year by using the following cost predictions: overhead costs, $2,254,000,and direct labor costs, $490,000. At year-end, the company's records show that actual overhead costs for the year are $1,998,700. Actual direct labor cost had been assigned to jobs as follows. Movies completed and released Movies still in production Total actual direct labor cost $400,000 37,000 $437,000 1. Determine the predetermined overhead rate for...
Question 5 6 pts Harmony Inc. uses a job-costing system with two direct cost categories (direct...
Question 5 6 pts Harmony Inc. uses a job-costing system with two direct cost categories (direct materials and direct manufacturing labor) and one manufacturing overhead cost pool. Harmony allocates manufacturing overhead costs using direct labor costs. Harmony provides the following information: Overhead is allocated at $3/direct labor dollar. Question: How much overhead is allocated to jobs during 20X1? Budget for 20x1 Actual Results for 20X1 Direct Materials Cost $3,120,000 $1,900,000 Direct Ming Labor Cost $1,500,000 $1,450,000 Ming Overhead Cost $4,500,000...
help please 5 pts Question 15 Bradbeer Corporation uses direct labor-hours in its predetermined overhead rate....
help please
5 pts Question 15 Bradbeer Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 17.500 hours. At the end of the year, actual direct labor-hours for the year were 16,000 hours, the actual manufacturing overhead for the year was $233,000, and manufacturing overhead for the year was underapplied by $15,400. The estimated manufacturing overhead at the beginning of the year used in the predetermined overhead rate must...
Question 45 2 pts A company's prime costs total $3,000,000 and its conversion costs total $7,000,000.if direct materials are $1,000,000 and factory overhead is $5,000,000, then direct labor is: O $4,000,000 O$14,000,000. O$2,000,000 O$1,000,000. O$3,000,000 estion 46 Cost information for the year Asteroid Industries accumulated the following cost information for the year 2 pts Direct materials Indirect materials $16,000 4,000 Indirect labor 8,500 Factory depreciation 12,800 Direct labor 37,000 Using the above information, total factory overhead costs equal: O $78,300...
31) Asteroid Industries accumulated the following cost information for the year: Direct materials Indirect materials Indirect labor Factory depreciation $16,000 4,000 8,500 12,800 37,000 Direct labor Using the above information, total factory A) $53,000. B) $25,300. e above information total factory overhead costs would be: C) $78,300. D) $16,800. E) $12,800 ne overhead cost applied to a job during a period is recorded with a credit to Factory Overhead and a debit to: A) Work in Process Inventory. B) Cost...
The predetermined overhead allocation rate for Freestyle, Inc., is based on estimated direct labor costs of $400,000 and estimated factory overhead of $500,000. Actual costs incurred were: Direct materials. $250,000 400,000 55,000 125,000 50,000 Direct labor Indirect materials....... Indirect labor............................... Sales commissions............. ..... Factory depreciation................. ......... Property taxes, factory.. Factory utilities..... Advertising ...... Factory equipment rental 170,000 15,000 35,000 62,500 100,000 Calculate the predetermined overhead rate and calculate the overhead applied to production during the year (6 points). A. Predetermined...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor $53,000 $ 12,200 73,000 72,000 25,300 55,600 230,000 385,000 35,000 100,000 140,000 1,600,000 Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct...
1. in December 2018, Mentor Company's management team estimated next year's total direct labor cost assuming 50 persons working an average of 2.000 hours each at an average hourly rate of $25. They also estimated the following cost for 2019: Classify the following cost as either: Direct Materials Overhead Period costs Indirect labor $320,000 Administrative office rent - $75,000 Sales expenses - $45,000 Administrative salaries $125,000 Factory supervision $250,000 Rent on factory building $150,000 Factory utilities $80,000 Factory insurance $70,000...
28) Comet Company accumulated the following account infomation for the year: 28) Beginning raw materials inventory6,000 Indirect materials cost Indirect labor cost Maitenance of factory equipmen 2,000 5,000 2,800 Direct labor cost Using the above information, total factory overhead costs would be: D) S15,800 A) $ 16,800. B) $13,000. C) $9.800 E) $7,800. 29) Managerial accounting information 29) A) Can be used for control purposes but not for planning purposes. B) Is used mainly by external users. C) Is generally...
Need help with question 2 ....
The company uses a predetermined overhead rate of $27
per machine-hour to apply overhead cost to jobs. A total of 21,500
machine-hours were used during the year.
ework Problems The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred s 16,800 148,000 9,800 88,000...
At the beginning of the year, Infodeo established its predetermined overhead rate for movies produced during the year by using the following cost predictions: overhead costs, $2,254,000,and direct labor costs, $490,000. At year-end, the company's records show that actual overhead costs for the year are $1,998,700. Actual direct labor cost had been assigned to jobs as follows. Movies completed and released Movies still in production Total actual direct labor cost $400,000 37,000 $437,000 1. Determine the predetermined overhead rate for...
Question 5 6 pts Harmony Inc. uses a job-costing system with two direct cost categories (direct materials and direct manufacturing labor) and one manufacturing overhead cost pool. Harmony allocates manufacturing overhead costs using direct labor costs. Harmony provides the following information: Overhead is allocated at $3/direct labor dollar. Question: How much overhead is allocated to jobs during 20X1? Budget for 20x1 Actual Results for 20X1 Direct Materials Cost $3,120,000 $1,900,000 Direct Ming Labor Cost $1,500,000 $1,450,000 Ming Overhead Cost $4,500,000...
help please
5 pts Question 15 Bradbeer Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 17.500 hours. At the end of the year, actual direct labor-hours for the year were 16,000 hours, the actual manufacturing overhead for the year was $233,000, and manufacturing overhead for the year was underapplied by $15,400. The estimated manufacturing overhead at the beginning of the year used in the predetermined overhead rate must...
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