Homework Answers
Sheridan :
| Journal entry for allocating overhead : | ||
| Dr. | Cr. | |
| Work in process - Milling department ( 2470 * 3 ) | 7410 | |
| Work in process - Cutting department ( 4000 * 3 ) | 12000 | |
| Manufacturing overhead | 19410 | |
| So, the answer is : Credit to manufacturing overhead for $19410 | ||
| Physical units | 32500 |
| (-) Units in ending work in process | 11500 |
| Units completed | 21000 |
| Conversion cost | |
| Units completed | 21000 |
| (+) Ending equivalent units ( Units in ending work in process * % completion = 11500 * 80% ) | 9200 |
| Equivalent units for conversion cost for the current period | 30200 |
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Sheridan Company assigns overhead based on machine hours. The Milling Department logs 2470 machine hours and...
Waterway Company decided to analyze certain costs for June of the current year. Units started into...
Waterway Company decided to analyze certain costs for June of the current year. Units started into production equaled 28300 and ending work in process equaled 4000 units. With no beginning work in process inventory, how much is the conversion cost per unit if ending work in process was 20% complete and total conversion costs equaled $128010? O$3.96. $4.52. $5.10 O$2.55 Sheridan Company assigns overhead based on machine hours. The Milling Department logs 2470 machine hours and Cutting Department shows 4000...
Multiple Choice Question 55 Sheffield Company assigns overhead based on machine hours. The Milling Department logs...
Multiple Choice Question 55 Sheffield Company assigns overhead based on machine hours. The Milling Department logs 2400 machine hours and Cutting Department shows 4150 machine hours for the period. If the overhead rate is $4 per machine hour, the entry to assign overhead will show a O debit to Work in Process for $16600. O credit to Manufacturing Overhead for $26200. credit to Work in Process --Cutting Department for $16600. debit to Manufacttring Overhead for $26200.
Question 16 --/1 View Policies Current Attempt in Progress Marigold Company assigns overhead based on machine...
Question 16 --/1 View Policies Current Attempt in Progress Marigold Company assigns overhead based on machine hours. The Milling Department logs 2320 machine hours and Cutting Department shows 4110 machine hours for the period. If the overhead rate is $3 per machine hour, the entry to assign overhead will show a O credit to Work in Process-Cutting Department for $12330. O debit to Work in Process for $12330. O credit to Manufacturing Overhead for $19290. Odebit to Manufacturing Overhead for!...
Multiple Choice Question 55 Bonita company asigns overhead based on machine hours. The Miling Department logs...
Multiple Choice Question 55 Bonita company asigns overhead based on machine hours. The Miling Department logs 2480 machine hours and Cutting Department shows 4070 machine hours for the period. I the overhead rate is 15 per machine hour, the entry to assig overhead will show a debit to Manufacturing Overhead for $32750 credit to Manufacturing Overhead for $32750 credit to Work in Process-cutting Department for $20350 debit to Work in Process for $20350 Click if you would like to Show...
8) Sikorski Manufacturing assigns overhead based on machine hours. The Milling Dept. logs 1,400 machine hours...
8) Sikorski Manufacturing assigns overhead based on machine hours. The Milling Dept. logs 1,400 machine hours and the Cutting Dept. shows 3,000 machine hours for the period. If the overhead rate is $5 per machine hour, how much overhead will be assigned? a. $1,400. b. $3,000. c. $4,400. d. $22,000. 9) What is the biggest disadvantage of ABC? a. It does not provide costing information needed for GAAP purposes. b. It causes management to make frivolous decisions. c. It often...
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Assume the following information appears in the Milling Department's cost reconciliation report: Milling Department Costs added to production during the period Cost of beginning work in process inventory Cost of the units transferred out of the Milling Department Materials $650,000 $ 15,000 $645,000 What is the cost of the ending work in process inventory of the Milling Department? Multiple Choice $20,000 $35,000 $5,000 O $25,000 If a properly completed cost reconciliation report for a particular department says that the total...
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Waterway Company decided to analyze certain costs for June of the current year. Units started into production equaled 28300 and ending work in process equaled 4000 units. With no beginning work in process inventory, how much is the conversion cost per unit if ending work in process was 20% complete and total conversion costs equaled $128010? O$3.96. $4.52. $5.10 O$2.55 Sheridan Company assigns overhead based on machine hours. The Milling Department logs 2470 machine hours and Cutting Department shows 4000...
Multiple Choice Question 55 Sheffield Company assigns overhead based on machine hours. The Milling Department logs 2400 machine hours and Cutting Department shows 4150 machine hours for the period. If the overhead rate is $4 per machine hour, the entry to assign overhead will show a O debit to Work in Process for $16600. O credit to Manufacturing Overhead for $26200. credit to Work in Process --Cutting Department for $16600. debit to Manufacttring Overhead for $26200.
Question 16 --/1 View Policies Current Attempt in Progress Marigold Company assigns overhead based on machine hours. The Milling Department logs 2320 machine hours and Cutting Department shows 4110 machine hours for the period. If the overhead rate is $3 per machine hour, the entry to assign overhead will show a O credit to Work in Process-Cutting Department for $12330. O debit to Work in Process for $12330. O credit to Manufacturing Overhead for $19290. Odebit to Manufacturing Overhead for!...
Multiple Choice Question 55 Bonita company asigns overhead based on machine hours. The Miling Department logs 2480 machine hours and Cutting Department shows 4070 machine hours for the period. I the overhead rate is 15 per machine hour, the entry to assig overhead will show a debit to Manufacturing Overhead for $32750 credit to Manufacturing Overhead for $32750 credit to Work in Process-cutting Department for $20350 debit to Work in Process for $20350 Click if you would like to Show...
8) Sikorski Manufacturing assigns overhead based on machine hours. The Milling Dept. logs 1,400 machine hours and the Cutting Dept. shows 3,000 machine hours for the period. If the overhead rate is $5 per machine hour, how much overhead will be assigned? a. $1,400. b. $3,000. c. $4,400. d. $22,000. 9) What is the biggest disadvantage of ABC? a. It does not provide costing information needed for GAAP purposes. b. It causes management to make frivolous decisions. c. It often...
Calculating Manufacturing Overhead Rates Windsor Company, accumulated the following data for 2017: Milling Department manufacturing overhead Finishing Department manufacturing overhead 76,800 Machine hours used S187,200 9,000 hours Milling Department Finishing Department 2,000 hours Labor hours used Milling Department 1,000 hours 1,000 hours Finishing Department Required a. Calculate the plantwide manufacturing overhead rate using machine hours as the allocation base $60 x per machine hour b. Calculate the plantwide manufacturing overhead rate using direct labor hours as the lcaion base x...
Assume the following information: Percent Complete Materials Conversion 45% 30% Milling Department Beginning work in process inventory Units started into production during March Units completed during March and transferred to the next department Ending work in process inventory Units 300 6,100 5,800 600 100% 6ex 100% 50x Using the weighted average method, what is the equivalent units of production for conversion? Multiple Choice 6,400 units 6,025 units 6100 units 6.160 units Assume the following information Units 300 6,000 Percent Complete...
Assume the following information appears in the Milling Department's cost reconciliation report: Milling Department Costs added to production during the period Cost of beginning work in process inventory Cost of the units transferred out of the Milling Department Materials $650,000 $ 15,000 $645,000 What is the cost of the ending work in process inventory of the Milling Department? Multiple Choice $20,000 $35,000 $5,000 O $25,000 If a properly completed cost reconciliation report for a particular department says that the total...
Data Markup on job cost 75% Milling Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Department Assembly 60,000 3,000 8,000 80,000 $390,000 $500,000 $2.00 $3.75 Cost summary for Job 407 Department Milling Assembly 90 Machine-hours Direct labor-hours Direct materials Direct labor cost $800 $70 20 $370 $280 Enter a formula into each of the cells marked with a ? below Assembly Step 1: Calculate the estimated total manufacturing overhead...
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