Homework Answers
1.
Fixed overhead/Direct labor cost = overhead rate
2,100,000/3,500,000 = Overhead rate
60% = Overhead rate
| Overhead Rate | ||||
| Choose Numerator | / | Choose Denominator | = | Overhead Rate |
| Fixed Overhead | / | Direct labor cost | = | Overhead Rate |
| 2,100,000 | / | 3,500,000 | = | 60% |
2.
| Total cost of work in process inventory | 76,000 |
| Direct labor cost | -25,000 |
| Factory overhead ( 25,000 x 60%) | -15,000 |
| Direct Material | $36,000 |
Kindly comment if you need further assistance.
Thanks‼!
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Exercise 15-17 Overhead rate calculation, allocation, and analysis LO P3 Moonrise Bakery applies factory overhead based...
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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.
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1 and 2
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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...
- 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...
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