Homework Answers
| 1st image | ||||
| Predetermined OH rate = | Estimated OH cost / Direct Labor Hours | |||
| = | $ 10,000,000 / 100,000 | |||
| = | $ 100.00 | per direct labor hour | ||
| Answer: | B | |||
| 2nd image | ||||
| Journal Entry | ||||
| Particulars | Debit | Credit | ||
| Overhead Control | $ 2,500.00 | |||
| To Cost of Goods sold | $ 2,500.00 | |||
| Answer: | C | |||
| 3rd image | |||
| Answer: | D | The sequential method | |
| 4th image | ||||
| Predetermined OH rate = | 200% | of direct material cost | ||
| Applied OH | = | Direct Material cost x 200% | ||
| = | $ 3,600,000 x 200% | |||
| = | $ 7,200,000.00 | |||
| Answer: | C | |||
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Beta Corporation is planning operations for the coming year. Beta uses normal costing and applies overhead...
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Beta Corporation is planning operations for the coming year Beta uses normal casting and apples overhead on the basis of director hours. The estimated overhead cost amounts to $10,000,000, estimated direct labor hours are 125,000, estimated direct labor cost amounts to $3,200,000, and estimated direct materials costs $29,000,000. What is Beta's predetermined overhead rate? a. $34 per direct labor hour . 576 per direct labor hour $80 per direct labor hour d. 532 per direct labor hour
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Parker Corporation uses a job-order costing system and applies manufacturing overhead to jobs using a predetermined...
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Dehner Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on the following data: Total direct labor-hours 96,000 Total fixed manufacturing overhead cost $499,200 Variable manufacturing overhead per direct labor-hour $ 2.00 Recently, Job P951 was completed with the following characteristics: Number of units in the job Total direct labor-hours Direct materials Direct labor cost 100 100 $ 640 $9,600 The...
Harwood Company uses a job-order costing system that applies
overhead cost to jobs on the basis of machine-hours. The company's
predetermined overhead rate of $2.70 per machine-hour was based on
a cost formula that estimates $243,000 of total manufacturing
overhead for an estimated activity level of 90,000
machine-hours.
Required:
1. Assume that during the year the company works only 85,000
machine-hours and incurs the following costs in the Manufacturing
Overhead and Work in Process accounts: Compute the amount of
overhead...
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