A company uses traditional costing to allocate overhead. How many predetermined overhead rates will they have,...
A company uses traditional costing to allocate overhead. How many predetermined overhead rates will they have, if there are 2 different products and 3 departments?
Homework Answers
Solution:
If A company uses traditional costing to allocate overhead, then there will be only one predetermined overhead rate.
Because under traditional costing, there always be one rate to allocate overhead irrespective of number of products or departments.
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A company uses traditional costing to allocate overhead. How
many predetermined overhead rates will they have,...
nts) 16. Eaton Company uses activity-based costing to allocate overhead costs to products. When figuring the...
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Aleman uses a traditional predetermined overhead rate system to allocate overhead to its jobs using direct...
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Lucas Industries uses departmental overhead rates to allocate its manufacturing overhead to jobs. The company has...
Lucas Industries uses departmental overhead rates to allocate its manufacturing overhead to jobs. The company has two departments: Assembly and Sanding. The Assembly Department uses a departmental overhead rate of $60 per machine hour, while the Sanding Department uses a departmental overhead rate of $30 per direct labor hour. Job 542 used the following direct labor hours and machine hours in the two departments Assembly Department 9 Sanding Department Actual results Direct labor hours used Machine hours used The cost...
Lucas Industries uses departmental overhead rates to allocate its manufacturing overhead to jobs. The company has...
Lucas Industries uses departmental overhead rates to allocate its manufacturing overhead to jobs. The company has two departments Assembly and Sanding. The Assembly Department uses a departmental overhead rate of $35 per machine hour, while the Sanding Department uses a departmental overhead rate of $25 per direct labor hour, Job 003 used the following direct labor hours and machine hours in the two departments Assembly Sanding Actual results Department Department Direct labor hours used Machine hours used The cost for...
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Aleman uses a traditional predetermined overhead rate system to allocate overhead to its jobs using dired...
Aleman uses a traditional predetermined overhead rate system to allocate overhead to its jobs using dired labor hours. Its total estimated overhead costs are 5975,000 Esimated machine hours are expected to be 50.000 hours and estimated direct labor hours are expected to be 100,000 hours. Actual machine hours were 45,000 hours and actual direct labor hours were 92.0002 Assume Job #101 incurred Direct materials cost of $32,000 and Direct labor costs of 546,400. Actual direct labor hours were 5 800...
Lucas Industries uses departmental overhead rates to allocate its manufacturing overhead to jobs. The company has...
Lucas Industries uses departmental overhead rates to allocate its manufacturing overhead to jobs. The company has two departments: Assembly and Sanding. The Assembly Department uses a departmental overhead rate of $50 per machine hour, while the Sanding Department uses a departmental overhead rate of $30 per direct labor hour. Job 542 used the following direct labor hours and machine hours in the two departments: Assembly Department Sanding Department Actual results Direct labor hours used Machine hours used 10 o The...
Predetermined Overhead Rate, Application of Overhead Findley Company and Lemon Company both use predetermined overhead rates...
Predetermined Overhead Rate, Application of Overhead Findley Company and Lemon Company both use predetermined overhead rates to apply manufacturing overhead to production. Findley’s is based on machine hours, and Lemon’s is based on materials cost. Budgeted production and cost data for Findley and Lemon are as follows: At the end of the year, Findley Company had incurred overhead of $915,000 and had produced 19,600 units using 47,780 machine hours and materials costing $445,000. Lemon Company had incurred overhead of $972,000...
Predetermined Overhead Rate, Application of Overhead Findley Company and Lemon Company both use predetermined overhead rates...
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Young Foundry in Columbus, Ohio, uses a predetermined manufacturing overhead rate to allocate overhead to individual...
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nts) 16. Eaton Company uses activity-based costing to allocate overhead costs to products. When figuring the cost of ordering raw materials, which of the following is likely the best cost driver for this activity? a. Number of orders placed. b. Weight of the parts ordered. c. Square footage of the purchasing department area. d. Direct labor cost e. None of the answer choices is correct. e comfc future for safet materia local h e factor ta rela 17. Which of...
Aleman uses a traditional predetermined overhead rate system to allocate overhead to its jobs using direct labor hours. Its total estimated overhead costs are $975,000 Esimated machine hours are expected to be 50.000 hours and estimated direct labor hours we expected to be 100,000 hours. What is the total amount of allocated overhead actual machine hours are 45,000 hours and actual direct labor hours are 92,000? TIP: Please round any intermediary calculations to 2 decimal places O A $897000 OB....
Lucas Industries uses departmental overhead rates to allocate its manufacturing overhead to jobs. The company has two departments: Assembly and Sanding. The Assembly Department uses a departmental overhead rate of $60 per machine hour, while the Sanding Department uses a departmental overhead rate of $30 per direct labor hour. Job 542 used the following direct labor hours and machine hours in the two departments Assembly Department 9 Sanding Department Actual results Direct labor hours used Machine hours used The cost...
Lucas Industries uses departmental overhead rates to allocate its manufacturing overhead to jobs. The company has two departments Assembly and Sanding. The Assembly Department uses a departmental overhead rate of $35 per machine hour, while the Sanding Department uses a departmental overhead rate of $25 per direct labor hour, Job 003 used the following direct labor hours and machine hours in the two departments Assembly Sanding Actual results Department Department Direct labor hours used Machine hours used The cost for...
Aleman uses a traditional predetermined overhead rate system to allocate overhead to its jobs using dired labor hours. Its total estimated overhead costs are 5975,000 Esimated machine hours are expected to be 50.000 hours and estimated direct labor hours are expected to be 100,000 hours. Actual machine hours were 45,000 hours and actual direct labor hours were 92.0002 Assume Job #101 incurred Direct materials cost of $32,000 and Direct labor costs of 546,400. Actual direct labor hours were 5 800...
Lucas Industries uses departmental overhead rates to allocate its manufacturing overhead to jobs. The company has two departments: Assembly and Sanding. The Assembly Department uses a departmental overhead rate of $50 per machine hour, while the Sanding Department uses a departmental overhead rate of $30 per direct labor hour. Job 542 used the following direct labor hours and machine hours in the two departments: Assembly Department Sanding Department Actual results Direct labor hours used Machine hours used 10 o The...
Predetermined Overhead Rate, Application of Overhead Findley Company and Lemon Company both use predetermined overhead rates to apply manufacturing overhead to production. Findley's is based on machine hours, and Lemon's is based on materials cost. Budgeted production and cost data for Findley and Lemon are as follows: Findley Lemon Manufacturing overhead $912,000 $990,000 Units 20,000 60,000 Machine hours 48,000 33,750 Materials cost $450,000 $1,800,000 At the end of the year, Findley Company had incurred overhead of $915,000 and had produced...
Young Foundry in Columbus, Ohio, uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the beginning of the year, the company expected to incur the following: EEB (Click the icon to view the costs.) Requirements 1. Compute Young's predetermined manufacturing overhead rate. 2. How much manufacturing overhead was allocated to jobs during the year? 3. How much manufacturing overhead was incurred during the year? Is manufacturing overhead underallocated or overallocated...
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