Homework Answers
| 1a) predetermine overhead rate = total estimated overhead cost/estimated direct labor cost | |||||||
| predetermine overhead rate = 1500000/2500000 = 0.60 | |||||||
| estimated direct labor cost = 50 person*2000 hours*25 = 2500000 | |||||||
| 1-b) | |||||||
| Job no | Direct labor cost (a) | Overhead applied cost 60%*(a) | |||||
| 201 | 604000 | 362400 | |||||
| 202 | 563000 | 337800 | |||||
| 203 | 298000 | 178800 | |||||
| 204 | 716000 | 429600 | |||||
| 205 | 314000 | 188400 | |||||
| 206 | 17000 | 10200 | |||||
| Totak | 2512000 | 1507200 | |||||
| 1-c) | |||||||
| Factory overhead | |||||||
| Overhead cost incurred | 1520000 | 1507200 | applied overhead cost | ||||
| ending balance | 12800 | ||||||
| 1-d) Journal entries | |||||||
| date | Particulars | Debit | Credit | ||||
| 31-Dec | cost of goods sold | 12800 | |||||
| factory overhead | 12800 | ||||||
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In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 50 persons...
In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 40 persons...
In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 40 persons working an average of 2,000 hours each at an average wage rate of $30 per hour. The manager also estimated the following manufacturing overhead costs for 2017. Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Pactory supplies used Miscellaneous production costs Total estimated overhead coats $ 332,200 243,000 103,000 101,000 81,000 496,000 73,000 81,800...
In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 40 persons...
In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 40 persons working an average of 3,000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for 2017 Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 336,200 276,000 157,000 105,000 85,000 625,000 77,000 85,800...
In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 40 persons...
In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 40 persons working an average of 3,000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for 2017 Indirect labor $ 316, 200 Factory supervision 188,800 Rent on factory building 147,000 Factory utilities 95,000 Factory insurance expired 75, eee Depreciation-Factory equipment 521,000 Repairs expense-Factory equipment 67,000 Factory supplies used 75,800 Miscellaneous production costs 43,000 Total...
1 In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 50...
1 In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 50 persons working an average of 2,500 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for 2017 Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 333,200 128,000 154,000 102,000 82,000 494,000 74,000...
In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 55 persons...
In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 55 persons working an average of 2.000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for 2017 Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 261,200 156,000 152, eee 1ee, eee se, eee...
In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 40 persons...
In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 40 persons working an average of 3,000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for 2017 Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 336,200 276,000 157,000 105,000 85,000 625,000 77,000 85,800...
Quiz Saved In December 2016. Learer Company's manager estimated next year's total direct labor cost assuming...
Quiz Saved In December 2016. Learer Company's manager estimated next year's total direct labor cost assuming 40 persons working an average of 2,000 hours each at an average wage rate of $25 per hour. The manager also estimated the following manufacturing overhead costs for 2017 Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation Factory equipment Repairs expense- Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 327,200 149,000 148,00 96,000...
13 overhead rate LO P3, P4 2016, Learer Company's manager estimated next year's total direct labor...
13 overhead rate LO P3, P4 2016, Learer Company's manager estimated next year's total direct labor cost assuming 45 persons working an average of 2,000 hours each at an average wage rate of $25 per hours The manager also estimated the following manufacturing over points costs for 2017. Factory supervision Rent on factory bullding 94,0 Factory insurance expired Repairs expense-Factory equipeent Factory supplies used Miscellaneous production costs Total estinated averhead costs 66,000 At the end of 2017, records show the...
At the beginning of the year, Learer Company's manager estimated total direct labor cost assuming 35...
At the beginning of the year, Learer Company's manager estimated total direct labor cost assuming 35 persons working an average of 3,000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for the year. Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 335,200 165,000 156,000 104,000 84,000 413,000...
At the beginning of the year, Learer Company’s manager estimated total direct labor cost assuming 40...
At the beginning of the year, Learer Company’s manager estimated
total direct labor cost assuming 40 persons working an average of
2,000 hours each at an average wage rate of $40 per hour. The
manager also estimated the following manufacturing overhead costs
for the year.
Indirect labor
$
324,200
Factory supervision
355,000
Rent on factory building
145,000
Factory utilities
93,000
Factory insurance expired
73,000
Depreciation—Factory equipment
750,000
Repairs expense—Factory equipment
65,000
Factory supplies used
73,800
Miscellaneous production costs
41,000
Total...
In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 40 persons working an average of 2,000 hours each at an average wage rate of $30 per hour. The manager also estimated the following manufacturing overhead costs for 2017. Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Pactory supplies used Miscellaneous production costs Total estimated overhead coats $ 332,200 243,000 103,000 101,000 81,000 496,000 73,000 81,800...
In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 40 persons working an average of 3,000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for 2017 Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 336,200 276,000 157,000 105,000 85,000 625,000 77,000 85,800...
In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 40 persons working an average of 3,000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for 2017 Indirect labor $ 316, 200 Factory supervision 188,800 Rent on factory building 147,000 Factory utilities 95,000 Factory insurance expired 75, eee Depreciation-Factory equipment 521,000 Repairs expense-Factory equipment 67,000 Factory supplies used 75,800 Miscellaneous production costs 43,000 Total...
1 In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 50 persons working an average of 2,500 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for 2017 Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 333,200 128,000 154,000 102,000 82,000 494,000 74,000...
In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 55 persons working an average of 2.000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for 2017 Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 261,200 156,000 152, eee 1ee, eee se, eee...
In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 40 persons working an average of 3,000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for 2017 Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 336,200 276,000 157,000 105,000 85,000 625,000 77,000 85,800...
Quiz Saved In December 2016. Learer Company's manager estimated next year's total direct labor cost assuming 40 persons working an average of 2,000 hours each at an average wage rate of $25 per hour. The manager also estimated the following manufacturing overhead costs for 2017 Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation Factory equipment Repairs expense- Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 327,200 149,000 148,00 96,000...
13 overhead rate LO P3, P4 2016, Learer Company's manager estimated next year's total direct labor cost assuming 45 persons working an average of 2,000 hours each at an average wage rate of $25 per hours The manager also estimated the following manufacturing over points costs for 2017. Factory supervision Rent on factory bullding 94,0 Factory insurance expired Repairs expense-Factory equipeent Factory supplies used Miscellaneous production costs Total estinated averhead costs 66,000 At the end of 2017, records show the...
At the beginning of the year, Learer Company's manager estimated total direct labor cost assuming 35 persons working an average of 3,000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for the year. Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 335,200 165,000 156,000 104,000 84,000 413,000...
At the beginning of the year, Learer Company’s manager estimated
total direct labor cost assuming 40 persons working an average of
2,000 hours each at an average wage rate of $40 per hour. The
manager also estimated the following manufacturing overhead costs
for the year.
Indirect labor
$
324,200
Factory supervision
355,000
Rent on factory building
145,000
Factory utilities
93,000
Factory insurance expired
73,000
Depreciation—Factory equipment
750,000
Repairs expense—Factory equipment
65,000
Factory supplies used
73,800
Miscellaneous production costs
41,000
Total...
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