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Homework Answers
Predetermined overhead rate = budgeted overhead / budgeted machine hour
= 361500 / 26500 = $13.64 per hour
Applied overhead = Predetermined overhead rate x Actual hours
= $13.64*26,000
= $354,640
Overapplied overhead = $354,640 - 349400 = $5,240
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Exercise 5-3 Compute the Predetermined Overhead Rate (LO3] Logan Products computes its predetermined overhead rate annually...
Logan Products computes its predetermined overhead rate annually on the basis of machine- hours. At the...
Logan Products computes its predetermined overhead rate annually on the basis of machine- hours. At the beginning of the year, it estimated that its total manufacturing overhead would be $366,500 and machines would be run a total of 41,000 hours. Its actual total manufacturing overhead for the year was $354,400 and its actual total machine-hours was 40,500 hours. Required: Compute the company's predetermined overhead rate for the year, calculate the total overhead applied, and determine the amount of under- or...
Compute the Predetermined Overhead Rate [LO3] Harris Fabrics computes its predetermined overhead rate annually on the...
Compute the Predetermined Overhead Rate [LO3] Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor hours. At the beginning of the year it estimated that its total manufacturing overhead would be $134,000 and the total direct labor would be 20,000 hours. Its actual total manufacturing overhead for the year was $123,900 and its actual total direct labor was 21,000 hours. Required: Compute the company's predetermined overhead rate for the year.
Question 2: (1 point) Exercise 3-3 Compute the Predetermined Overhead Rate [LO3] Harris Fabrics computes its...
Question 2: (1 point) Exercise 3-3 Compute the Predetermined Overhead Rate [LO3] Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year it estimated that its total manufacturing overhead would be $134,000 and the total direct labor would be 20,000 hours. Its actual total manufacturing overhead for the year was $123,900 and its actual total direct labor was 21, Harris Fabrics computes its predetermined overhead rate annually on the basis...
Logan Products computes its predetermined overhead rate annually on the basis of direct labor-hours. At the...
Logan Products computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 36.000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $536,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Logan's actual manufacturing overhead for the year was $714.994 and its actual total direct labor was 36,500 hours. Required: Compute the...
Logan Products computes its predetermined overhead rate annually on the basis of direct labor-hours. At the...
Logan Products computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 33,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $515,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Logan's actual manufacturing overhead for the year was $675,228 and its actual total direct labor was 33,500 hours. Required: Compute the...
Exercise 3-1 (Algo) Compute a Predetermined Overhead Rate [LO3-1) Harris Fabrics computes Its plantwide predetermined overhead...
Exercise 3-1 (Algo) Compute a Predetermined Overhead Rate [LO3-1) Harris Fabrics computes Its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 43,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $523,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $731,356 and...
Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. At the...
Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 26,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $557,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $4.00 per direct labor-hour. Harris's actual manufacturing overhead for the year was $718,762 and its actual total direct labor was 26,500 hours Required: Compute the...
Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At...
Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 26,000 direct labor-hours would be required for the period’s estimated level of production. The company also estimated $566,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Harris’s actual manufacturing overhead cost for the year was $696,135 and its actual total direct labor was 26,500 hours. Compute...
Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At...
Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 26,000 direct labor-hours would be required for the period’s estimated level of production. The company also estimated $560,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per direct labor-hour. Harris’s actual manufacturing overhead cost for the year was $723,144 and its actual total direct labor was 26,500 hours. Required:...
Metal Works, Inc. computes its predetermined overhead rate annually on the basis of machine hours. At...
Metal Works, Inc. computes its predetermined overhead rate annually on the basis of machine hours. At the beginning of the year it estimated that its total manufacturing overhead would be $153,360 and the total machine hours would be 21,600. Its actual manufacturing overhead for the year was $153,127.62 and its actual machine hours was 21,823 hours. a. What is the company's Pre-determined Overhead Rate? b. What amount of Overhead would be applied to the units of of product during the...
Logan Products computes its predetermined overhead rate annually on the basis of machine- hours. At the beginning of the year, it estimated that its total manufacturing overhead would be $366,500 and machines would be run a total of 41,000 hours. Its actual total manufacturing overhead for the year was $354,400 and its actual total machine-hours was 40,500 hours. Required: Compute the company's predetermined overhead rate for the year, calculate the total overhead applied, and determine the amount of under- or...
Compute the Predetermined Overhead Rate [LO3] Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor hours. At the beginning of the year it estimated that its total manufacturing overhead would be $134,000 and the total direct labor would be 20,000 hours. Its actual total manufacturing overhead for the year was $123,900 and its actual total direct labor was 21,000 hours. Required: Compute the company's predetermined overhead rate for the year.
Logan Products computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 36.000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $536,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Logan's actual manufacturing overhead for the year was $714.994 and its actual total direct labor was 36,500 hours. Required: Compute the...
Logan Products computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 33,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $515,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Logan's actual manufacturing overhead for the year was $675,228 and its actual total direct labor was 33,500 hours. Required: Compute the...
Exercise 3-1 (Algo) Compute a Predetermined Overhead Rate [LO3-1) Harris Fabrics computes Its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 43,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $523,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $731,356 and...
Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 26,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $557,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $4.00 per direct labor-hour. Harris's actual manufacturing overhead for the year was $718,762 and its actual total direct labor was 26,500 hours Required: Compute the...
Metal Works, Inc. computes its predetermined overhead rate annually on the basis of machine hours. At the beginning of the year it estimated that its total manufacturing overhead would be $153,360 and the total machine hours would be 21,600. Its actual manufacturing overhead for the year was $153,127.62 and its actual machine hours was 21,823 hours. a. What is the company's Pre-determined Overhead Rate? b. What amount of Overhead would be applied to the units of of product during the...
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