Homework Answers
1.
Predetermined overhead rate = Estimated overhead/Estimated direct labor cost
= 600,000/240,000
= 250% of direct labor cost
Applied overhead = 250%*250,000 = 625,000
Actual overhead = 640,000
So,the overhead is underapplied by 15,000
Under applied by $15,000
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Labels Actual factory overhead Depreciation of equipment Direct labor used Direct materials used Factory overhead applied...
Labels
Actual factory overhead
Depreciation of equipment
Direct labor used
Direct materials used
Factory overhead applied
Factory rent
Factory utilities
Indirect labor
Indirect materials
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Labels
Actual factory overhead
Depreciation of equipment
Direct labor used
Direct materials used
Factory overhead applied
Factory rent
Factory utilities
Indirect labor
Indirect materials
Required information (The following information applies to the questions displayed below. Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $382,000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $27,000; factory rent, $39,000; factory utilities, $24,000; and factory...
The company applies overhead cost to jobs on the basis of direct
labor-hours. For the current year, the company’s predetermined
overhead rate of $13.00 per direct labor-hour was based on a cost
formula that estimated $520,000 of total manufacturing overhead for
an estimated activity level of 40,000 direct labor-hours. The
following transactions were recorded for the year:
Raw materials were purchased on account, $584,000.
Raw materials use in production, $537,600. All of of the raw
materials were used as direct...
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