Homework Answers
1) Overhead rate = Factory overhead/Direct labor = 1800000/3000000 = 60% of direct labor cost
2) Calculate direct material cost
| Ending WIP | 71000 |
| Direct labor | 20000 |
| Overhead (20000*60%) | 12000 |
| Direct material | 39000 |
3) Calculate Direct labor and overhead cost
| Ending WIP | 490000 |
| Direct material | 250000 |
| Direct labor (240000*100/160) | 150000 |
| Overhead (150000*60%) | 90000 |
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Exercise 2-17 Overhead rate calculation allocation, and analysis P3 Moonrise Bakery applies factory...
- fury to allocate any over- or underapplied overhead to Cost of Goods Sold. Moonrise Bakery...
- fury to allocate any over- or underapplied overhead to Cost of Goods Sold. Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the follow- ing costs during 2017: direct materials costs, $650,000; direct labor costs, $3,000,000; and factory over- head costs applied, $1,800,000. 1. Determine the company's predetermined overhead rate for 2017. 2. Assuming that the company's $71,000 ending Work in Process Inventory account for 2017 had $20,000 of direct labor costs, determine the inventory's...
Exercise 15-17 Overhead rate calculation, allocation, and analysis LO P3 Moonrise Bakery applies factory overhead based...
Exercise 15-17 Overhead rate calculation, allocation, and analysis LO P3 Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during the year: direct materials costs, $700,000; direct labor costs, $3,500,000; and factory overhead costs applied, $2,100,000. 1. Determine the company's predetermined overhead rate for the year. 2. Assuming that the company's $76,000 ending Work in Process Inventory account for the year had $25,000 of direct labor costs, determine the inventory's direct materials costs....
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs...
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during the year: direct materials costs, $650,000; direct labor costs, $3,000,000; and factory overhead costs applied, $1,800,000. 1. Determine the company's predetermined overhead rate for the year. 2. Assuming that the company's $71,000 ending Work in Process Inventory account for the year had $20,000 of direct labor costs, determine the inventory's direct materials costs.
NEED HELP!!!!! READ THIS INFORMATION VERY CAREFULLY PLEASE THANK YOU. Moonrise Bakery applies factory overhead based...
NEED HELP!!!!! READ THIS INFORMATION VERY CAREFULLY PLEASE THANK
YOU.
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during 2015: direct materials costs, $650,000; direct labor costs, $3,000,000; and factory overhead costs applied, $1,800,000 Determine the company's predetermined overhead rate for year 2015. Answer is complete but not entirely correct. Choose Numerator: Total overhead costs 1,800,000 Overhead Rate Choose Denominator: Total direct labor costs 3,000 I - - - Overhead Rate Overhead...
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs...
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during 2017: direct materials costs, $780,000; direct labor costs, $4,300,000; and factory overhead costs applied, $2,150,000. 1. Determine the company's predetermined overhead rate for 2017 2. Assuming that the company's $84,000 ending Work in Process Inventory account for 2017 had $33,000 of direct labor costs, determine the inventory's direct materials costs. 3. Assuming that the company's $620,000 ending Finished Goods Inventory account for 2017...
1 and 2 Exercise 2-15 Factory overhead computed, applied and adjusted P3 P4 In December 2016....
1 and 2
Exercise 2-15 Factory overhead computed, applied and adjusted P3 P4 In December 2016. Custom Mfe, established its predetermined overhead rate for jobs produced during 2017 by using the following cost predictions: overhead costs, $750,000, and direct materials coss. S625.000. At year-end 2017, the company's records show that actual overhead costs for the year re $830,000. Actual direct materials cost had been assigned to jobs as follows. Jobs completed and sold............. Jobs in finished goods inventory.......... Jobs in...
Exercise 15-14 Factory overhead computed, applied, and adjusted LO P3, P4 The following information applies to...
Exercise 15-14 Factory overhead computed, applied, and adjusted LO P3, P4 The following information applies to the questions displayed below In December 2014, Custom Mfg established its predetermined overhead rate for jobs produced during year 2015 by using the following cost predictions: overhead costs, $1,080,000, and direct labor costs, $600,000 At year-end 2015, the company's records show that actual overhead costs for the year are $891,400. Actual direct labor cost had been assigned to jobs as follows. Jobs completed and...
3 and 4 Exercise 2-15 Factory overhead computed, applied and adjusted P3 P4 In December 2016....
3 and 4
Exercise 2-15 Factory overhead computed, applied and adjusted P3 P4 In December 2016. Custom Mfe, established its predetermined overledu 2017 by using the following cost predictions: overhead costs. $750,000, and direct materials cos 5625.000. At year-end 2017, the company's records show that actual overhead costs for the year e $830,000. Actual direct materials cost had been assigned to jobs as follows. Jobs completed and sold... Jobs in finished goods inventory..... Jobs in work in process inventory.... Total...
Return to question Problem 2-4A Overhead allocation and adjustment using a predetermined overhead rate LO P3,...
Return to question Problem 2-4A Overhead allocation and adjustment using a predetermined overhead rate LO P3, P4 points In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 50 persons working an average of 2,000 hours each at an average wage rate of $25 per hour. The manager also estimated the following manufacturing overhead costs for 2017. Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory...
Exercise 2-15 Factory overhead computed, applied, and adjusted P3 P4 mber 2016, Custom Mfg. established its...
Exercise 2-15 Factory overhead computed, applied, and adjusted P3 P4 mber 2016, Custom Mfg. established its predetermined overhead rate for jobs produced during 2017 by using the following cost predictions: overhead costs, $750,000, and direct materials $625,000. n costs, At year-end 2017, the company's records show that actual overhead costs for the year are $830.000. Actual direct materials cost had been assigned to jobs as follows. $513,750 102,750 68,500 Total actual direct materials cost.. 1. Determine the predetermined overhead rate,...
- fury to allocate any over- or underapplied overhead to Cost of Goods Sold. Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the follow- ing costs during 2017: direct materials costs, $650,000; direct labor costs, $3,000,000; and factory over- head costs applied, $1,800,000. 1. Determine the company's predetermined overhead rate for 2017. 2. Assuming that the company's $71,000 ending Work in Process Inventory account for 2017 had $20,000 of direct labor costs, determine the inventory's...
Exercise 15-17 Overhead rate calculation, allocation, and analysis LO P3 Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during the year: direct materials costs, $700,000; direct labor costs, $3,500,000; and factory overhead costs applied, $2,100,000. 1. Determine the company's predetermined overhead rate for the year. 2. Assuming that the company's $76,000 ending Work in Process Inventory account for the year had $25,000 of direct labor costs, determine the inventory's direct materials costs....
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during the year: direct materials costs, $650,000; direct labor costs, $3,000,000; and factory overhead costs applied, $1,800,000. 1. Determine the company's predetermined overhead rate for the year. 2. Assuming that the company's $71,000 ending Work in Process Inventory account for the year had $20,000 of direct labor costs, determine the inventory's direct materials costs.
NEED HELP!!!!! READ THIS INFORMATION VERY CAREFULLY PLEASE THANK
YOU.
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during 2015: direct materials costs, $650,000; direct labor costs, $3,000,000; and factory overhead costs applied, $1,800,000 Determine the company's predetermined overhead rate for year 2015. Answer is complete but not entirely correct. Choose Numerator: Total overhead costs 1,800,000 Overhead Rate Choose Denominator: Total direct labor costs 3,000 I - - - Overhead Rate Overhead...
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during 2017: direct materials costs, $780,000; direct labor costs, $4,300,000; and factory overhead costs applied, $2,150,000. 1. Determine the company's predetermined overhead rate for 2017 2. Assuming that the company's $84,000 ending Work in Process Inventory account for 2017 had $33,000 of direct labor costs, determine the inventory's direct materials costs. 3. Assuming that the company's $620,000 ending Finished Goods Inventory account for 2017...
1 and 2
Exercise 2-15 Factory overhead computed, applied and adjusted P3 P4 In December 2016. Custom Mfe, established its predetermined overhead rate for jobs produced during 2017 by using the following cost predictions: overhead costs, $750,000, and direct materials coss. S625.000. At year-end 2017, the company's records show that actual overhead costs for the year re $830,000. Actual direct materials cost had been assigned to jobs as follows. Jobs completed and sold............. Jobs in finished goods inventory.......... Jobs in...
Exercise 15-14 Factory overhead computed, applied, and adjusted LO P3, P4 The following information applies to the questions displayed below In December 2014, Custom Mfg established its predetermined overhead rate for jobs produced during year 2015 by using the following cost predictions: overhead costs, $1,080,000, and direct labor costs, $600,000 At year-end 2015, the company's records show that actual overhead costs for the year are $891,400. Actual direct labor cost had been assigned to jobs as follows. Jobs completed and...
3 and 4
Exercise 2-15 Factory overhead computed, applied and adjusted P3 P4 In December 2016. Custom Mfe, established its predetermined overledu 2017 by using the following cost predictions: overhead costs. $750,000, and direct materials cos 5625.000. At year-end 2017, the company's records show that actual overhead costs for the year e $830,000. Actual direct materials cost had been assigned to jobs as follows. Jobs completed and sold... Jobs in finished goods inventory..... Jobs in work in process inventory.... Total...
Return to question Problem 2-4A Overhead allocation and adjustment using a predetermined overhead rate LO P3, P4 points In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 50 persons working an average of 2,000 hours each at an average wage rate of $25 per hour. The manager also estimated the following manufacturing overhead costs for 2017. Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory...
Exercise 2-15 Factory overhead computed, applied, and adjusted P3 P4 mber 2016, Custom Mfg. established its predetermined overhead rate for jobs produced during 2017 by using the following cost predictions: overhead costs, $750,000, and direct materials $625,000. n costs, At year-end 2017, the company's records show that actual overhead costs for the year are $830.000. Actual direct materials cost had been assigned to jobs as follows. $513,750 102,750 68,500 Total actual direct materials cost.. 1. Determine the predetermined overhead rate,...
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