Homework Answers
| Total estimated overhead | 500000 | |
| Divide by Total Direct Labour cost | 400000 | =20000*20 |
| Overhead application rate | 125% | of Direct Labour cost |
| Option B 125% of Direct Labour cost is correct | ||
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12. Dale Company applies overhead using a pre-determined overhead rate based on the direct labour cost....
12. Dale Company applies overhead using a pre-determined overhead rate based on the direct labour cost....
12. Dale Company applies overhead using a pre-determined overhead rate based on the direct labour cost. At the beginning of the year, it was estimated that there will be 20.000 direct labour hours worked and that labour will be paid $20 per hour. Total overhead is estimated to be $500,000 for the year. What is the overhead application rate to be used for the year? A. 80% of direct labour cost B. 125% of direct labour cost C. $20 per...
Strong Company applies overhead based on machine hours. At the beginning of 20x1, the company estimated...
Strong Company applies overhead based on machine hours. At the beginning of 20x1, the company estimated that manufacturing overhead would be $500,000, direct labour hours would total 50,000, and machine hours would total 20,000. By 20x1 year-end, actual overhead totaled $525,000, and actual machine hours were 25,000. On the basis of this information, the 20x1 predetermined overhead rate was: $10 per machine hour. $0.04 per machine hour. $25 per machine hour. $0.05 per machine hour. $20 per machine hour.
Strong Company applies overhead based on machine hours. At the beginning of 20x1, the company estimated...
Strong Company applies overhead based on machine hours. At the beginning of 20x1, the company estimated that manufacturing overhead would be $500,000, direct labour hours would total 50,000, and machine hours would total 20,000. By 20x1 year-end, actual overhead totaled $525,000, and actual machine hours were 25,000. On the basis of this information, the 20x1 predetermined overhead rate was: $10 per machine hour. $0.04 per machine hour. $25 per machine hour. $0.05 per machine hour. $20 per machine hour.
. Strong Company applies overhead based on machine hours. At the beginning of 20x1.the company estimated...
. Strong Company applies overhead based on machine hours. At the beginning of 20x1.the company estimated that manufacturing overhead would be $500,000, direct labour hours would total 50,000, and machine hours would total 20,000. By 20x1 year-end, actual overhead totaled $525,000, and actual machine hours were 25,000. On the basis of this information, the 20x1 predetermined overhead rate was: * (3 Points) $10 per machine hour. $25 per machine hour 50,04 per machine hour. 0 $20 per machine hour. $0.05...
Pointe Claire Company applies overhead based on direct labour hours. Two direct labour hours are required...
Pointe Claire Company applies overhead based on direct labour hours. Two direct labour hours are required for each unit of product. Planned production for the period was set at 8,600 units. Manufacturing overhead is budgeted at $120,400 for the period (20% of this cost is fixed). The 16,500 hours worked during the period resulted in the production of 8,170 units. The variable manufacturing overhead cost incurred was $97,400 and the fixed manufacturing overhead cost was $28,900. Partially correct answer. ...
Question 7 Marquis Company estimates that annual manufacturing overhead costs will be $800,000. Estimated annual operating...
Question 7 Marquis Company estimates that annual manufacturing overhead costs will be $800,000. Estimated annual operating activity bases are as follows: direct labour cost $500,000, direct labour hours 50,000, and machine hours 100,000. Compute the predetermined overhead rates for each activity base. a) The pre-determined overhead rate using Direct Labour Cost as the activity is ______ % b) The pre-determined overhead rate using Direct Labour Hours as the activity is $ _______ per direct labour hours. c) The pre-determined overhead...
Sai Company uses a job order cost system and applies manufacturing overhead costs to jobs using...
Sai Company uses a job order cost system and applies manufacturing overhead costs to jobs using a predetermined overhead rate based on direct labour-hours. The following data were extracted from the company's accounting records for Year 6 Estimated Actual Manufacturing overhead costs $50,000 $54,000 Direct labour-hours 20,000 24,000 hours hours Job #461 was completed during the year and the following costs had been incurred on that job: Direct materials $4,000 $1,500 (at $5 per direct Direct labour labour hour) What...
A company uses a job order cost system and applies manufacturing overhead costs to jobs using...
A company uses a job order cost system and applies manufacturing overhead costs to jobs using a predetermined overhead rate based on direct labour-hours. The following data were extracted from the company's accounting records for the previous year: Manufacturing overhead: estimated: $50,000 actual: $55,000 Direct labour hours: estimated: #20,000 hrs actual: #24,000 hrs A job completed during the year incurred the following costs: Direct Materials $4,000 Direct labour $1,500 (at $5 per DLH) What was the under applied or over...
Question 26 Pointe Claire Company applies overhead based on direct labour hours. Two direct labour hours...
Question 26 Pointe Claire Company applies overhead based on direct labour hours. Two direct labour hours are required for each unit of product. Planned production for the period was set at 8,300 units. Manufacturing overhead is budgeted at $124,500 for the period (20% of this cost is fixed). The 16,290 hours worked during the period resulted in the production of 8,000 units. The variable manufacturing overhead cost incurred was $100,800 and the fixed manufacturing overhead cost was $28,400. Calculate the...
Victryl Company applies overhead based on direct labor hours. At the beginning of the year, Victryl...
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...
12. Dale Company applies overhead using a pre-determined overhead rate based on the direct labour cost. At the beginning of the year, it was estimated that there will be 20.000 direct labour hours worked and that labour will be paid $20 per hour. Total overhead is estimated to be $500,000 for the year. What is the overhead application rate to be used for the year? A. 80% of direct labour cost B. 125% of direct labour cost C. $20 per...
. Strong Company applies overhead based on machine hours. At the beginning of 20x1.the company estimated that manufacturing overhead would be $500,000, direct labour hours would total 50,000, and machine hours would total 20,000. By 20x1 year-end, actual overhead totaled $525,000, and actual machine hours were 25,000. On the basis of this information, the 20x1 predetermined overhead rate was: * (3 Points) $10 per machine hour. $25 per machine hour 50,04 per machine hour. 0 $20 per machine hour. $0.05...
Sai Company uses a job order cost system and applies manufacturing overhead costs to jobs using a predetermined overhead rate based on direct labour-hours. The following data were extracted from the company's accounting records for Year 6 Estimated Actual Manufacturing overhead costs $50,000 $54,000 Direct labour-hours 20,000 24,000 hours hours Job #461 was completed during the year and the following costs had been incurred on that job: Direct materials $4,000 $1,500 (at $5 per direct Direct labour labour hour) What...
Question 26 Pointe Claire Company applies overhead based on direct labour hours. Two direct labour hours are required for each unit of product. Planned production for the period was set at 8,300 units. Manufacturing overhead is budgeted at $124,500 for the period (20% of this cost is fixed). The 16,290 hours worked during the period resulted in the production of 8,000 units. The variable manufacturing overhead cost incurred was $100,800 and the fixed manufacturing overhead cost was $28,400. Calculate the...
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...
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