Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of...

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Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of...

Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of the year, the company estimated its total overhead cost to be $325,000 and machine hours to be 25,000. Actual manufacturing overhead and machine hours were $372,000 and 26,000, respectively. Required: 1. Compute the predetermined overhead rate. Predetermined Overhead Rate per Machine Hour 2. Compute applied manufacturing overhead. Applied Manufacturing Overhead 3. Compute over- or underapplied manufacturing overhead. Manufacturing Overhead
Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of...

Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of the year, the company estimated its total overhead cost to be $325,000 and machine hours to be 25,000. Actual manufacturing overhead and machine hours were $372,000 and 26,000, respectively. Required: 1. & 2. Prepare the journal entries for actual and applied manufacturing overhead and transfer of manufacturing overhead account balance to cost of goods sold. a) record actual manufacturing overhead cost incurred b).record the...
Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of...

Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of the year, the company estimated its total overhead cost to be $325,000 and machine hours to be 25,000. Actual manufacturing overhead and machine hours were $372,000 and 26,000, respectively. Required: 1. & 2. Prepare the journal entries for actual and applied manufacturing overhead and transfer of manufacturing overhead account balance to cost of goods sold. (If no entry is required for a transaction/event, select...

Caple Corporation applies manufacturing overhead on the basis of machine-hours. At the beginning of the most...

Caple Corporation applies manufacturing overhead on the basis of machine-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $16,660. Actual manufacturing overhead for the year amounted to $25,000 and actual machine- hours were 1,460. The company's predetermined overhead rate for the year was $11.90 per machine-hour. The applied manufacturing overhead for the year was closest to: Ο Ο $26,071 Ο $18,19 Ο $16,660 Ο $17374
Cahin Corporation applies manufacturing overhead on the basis of machine-hours. At the beginning of the most...

Cahin Corporation applies manufacturing overhead on the basis of machine-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $21,060. Actual manufacturing overhead for the year amounted to $13,000 and actual machine-hours were 1,380. The company's predetermined overhead rate for the year was $16.20 per machine-hour. The applied manufacturing overhead for the year was closest to: a. $23,732 b. $21,060 c. $22,356 d. $13,800
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Blanket Corporation applies manufacturing overhead on the basis of direct labor hours. At the beginning of the most recent year, the company bases its predetermined overhead rate on the total estimated overhead of $450,000 and 75,000 estimated machine hours. Actual manufacturing overhead for the year amounted to $460,000 and actual machine hours were 80,000. Assuming that the entire amount of the underapplied or overapplied overhead is closed out to cost of goods sold, what would be the effect of the...

Strong Company applies overhead based on machine hours. At the beginning of 20x1, the company estimated...

Strong Company applies overhead based on machine hours. At the beginning of 20x1, the company estimated that manufacturing overhead would be $500,000, direct labour hours would total 50,000, and machine hours would total 20,000. By 20x1 year-end, actual overhead totaled $525,000, and actual machine hours were 25,000. On the basis of this information, the 20x1 predetermined overhead rate was: $10 per machine hour. $0.04 per machine hour. $25 per machine hour. $0.05 per machine hour. $20 per machine hour.
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Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of...

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