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| Correct option is: B. Underapplied by $58,500 | ||
| Workings: | ||
| Predetermined overhead rate | = | $363000 / 60500 |
| = | $ 6.00 | |
| Applied overheads | = | 57250 hours X $6 |
| = | $ 3,43,500 | |
| Actual overheads incurred | = | $ 4,02,000 |
| Under-applied overheads | = | $402000 - $343500 |
| = | $ 58,500 | |
| Therefore, Under-applied overheads are $58500 | ||
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i cannot figure out this practice problem i need help understanding how to find the answer...
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cannot figure out this practice problem i need help understanding
how to find the answer
Bayest Manufacturing Corporation uses a predetermined overhead rate based on direct labor hours to apply manufacturing overhead to jobs. Last year, the Corporation worked 57250 actual direct labor hours and incurred $402.000 of actual manufacturing overhead cost. The Corporation had estimated that it would work 60,500 direct labor hours during the year and incur $363,000 of manufacturing overhead cost. The Corporation's manufacturing overhead cost...
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i need help with the process of finding the right answer for this practice problem can...
i
need help with the process of finding the right answer for this
practice problem can someone help?
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour 31,500 $220, 500 $ 6.00 Recently. Job T687 was completed with the following characteristics Number of units...
i
cannot figure out this practice problem i need help understanding
how to find the answer
Bayest Manufacturing Corporation uses a predetermined overhead rate based on direct labor hours to apply manufacturing overhead to jobs. Last year, the Corporation worked 57250 actual direct labor hours and incurred $402.000 of actual manufacturing overhead cost. The Corporation had estimated that it would work 60,500 direct labor hours during the year and incur $363,000 of manufacturing overhead cost. The Corporation's manufacturing overhead cost...
Mackinaw Manufacturing Corporation uses a predetermined overhead rate based on direct labor hours to apply manufacturing overhead to jobs. Last year, the Corporation worked 17,500 actual direct labor-hours and incurred $148.300 of actual manufacturing overhead cost. They had estimated at the beginning of the year that 16,300 direct labor hours would be worked and S146700 of manufacturing overhead costs incurred. The Corporation had calculated a predetermined overhead rate of $9 per direct labor-hour. The Corporation's manufacturing overhead for the year...
Sawyer Manufacturing Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Last year, the Corporation worked 47,000 actual direct labor-hours and incurred $810,000 of actual manufacturing overhead cost. The Corporation had estimated that it would work 45,000 direct labor-hours during the year and incur $765,000 of manufacturing overhead cost. The Corporation's manufacturing overhead cost for the year was: O underapplied by $34,000 O overapplied by $11,000 O underapplied by $11,000 overapplied by $34,000
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Amy Corporation, which applies manufacturing overhead on the basis of direct labor hours, has provided the following data for its most recent year of operations. Estimated manufacturing overhead Estimated direct labor hours Actual manufacturing overhead Actual direct labor hours $80,080 1,100 $76,800 1,060 The estimates of the manufacturing overhead and of direct labor hours were made at the beginning of the year. The applied manufacturing overhead for the year is closest to Multiple Choke $75,089 0 $77,168 576.800 $76.450 Magnolia...
12 A company uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Last year, the company worked 61,000 actual direct labor-hours and incurred $552,000 of actual manufacturing overhead cost. The company had estimated that it would work 62,000 direct labor-hours during the year and incur $465,000 of manufacturing overhead cost. The company's manufacturing overhead cost for the year was: (Round your intermediate calculations to 2 decimal places.) Multiple Choice overapplied by $94,500 underapplied by...
i
need help with the process of finding the right answer for this
practice problem can someone help?
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour 31,500 $220, 500 $ 6.00 Recently. Job T687 was completed with the following characteristics Number of units...
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