Homework Answers
| Answer | |||||
| 1 |
Actual machine Hours = Overhead allocated to production / Predetermined overhead allocation rate |
||||
| 405000/45 | 9000 | ||||
| 2 | Manufacturing overhead underapplied by( 429000-405000) | $ 24,000 | |||
| Account Title | Debit | Credit | |||
| 3 | Cost of Goods Sold | $ 24,000 | |||
| Manufacturing overhead | $ 24,000 | ||||
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The manufacturing records for Portage Canoes at the end of the 2018 fiscal year show the...
e manufacturing records for Portage Canoes at the end of the 2018 fiscal year show the...
e manufacturing records for Portage Canoes at the end of the 2018 fiscal year show the following information about manufacturing ove Overhead allocated to production Achial manufacturing overhead costs Predetermined overhead allocation rate $ 399,000 431,000 42 per machine hour Read the requirements Requirement 1. How many machine houts did Portage Canoes use in 2018? Actual machine hours how much? Allocated overhead Requirement 2. Was manufacturing overhead over Estimated machine hours Manufacturing overhead is by Predetermined overhead allocation rate Total...
Data Table Estimated manufacturing overhead cost for the year Estimated direct labor cost for the year...
Data Table Estimated manufacturing overhead cost for the year Estimated direct labor cost for the year Actual manufacturing overhead cost for the year Actual direct labor cost for the year $ 120,000 100,000 101,000 76,000 Print Done Selected cost data for Premium Poster, Co. are as follows: (Click the icon to view the cost data.) Read the requirements. Requirement 1. Compute the predetermined overhead allocation rate per direct labor dollar. Predetermined overhead allocation rate % Requirement 2. Prepare the journal...
1 Data Table Estimated manufacturing overhead cost for the year Estimated direct labor cost for the...
1 Data Table Estimated manufacturing overhead cost for the year Estimated direct labor cost for the year Actual manufacturing overhead cost for the year $ 150,000 93,750 118,000 Actual direct labor cost for the year 68,000 Print Done Requirement 2. Prepare the journal entry to allocate overhead cost for the year. (Record debits first, then credits. Exclude explanations from journal entries.) Date Accounts Debit Credit Dec. 31 verallocated manufacturing overhead. Accounts Payable Accounts Receivable Cash Requirement 3. Cost of Goods...
Selected cost data for European Poster, Co. are as follows: : (Click the icon to view...
Selected cost data for European Poster, Co. are as follows: : (Click the icon to view the cost data.) Read the requirements. Requirement 1. Compute the predetermined overhead allocation rate per direct labor dollar. Predetermined overhead allocation rate Requirement 2. Prepare the journal entry to allocate overhead cost for the year. (Record debits first, then credits. Exclude explanations from journal entries.) Date Accounts Debit Credit Dec. 31 Requirement 3. Use a T-account to determine the amount of underallocated or overallocated...
Martinez Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on...
Martinez Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on the machine hours required. (Click the icon to view the costs.) Read the requirements. Requirement 1. Compute Martinez' predetermined overhead allocation rate. Predetermined overhead allocation rate per machine hour Requirement 2. Prepare the journal entry to allocate manufacturing overhead. (Record debits first, then credits. Exclude explanations from any journal entries.) Date Accounts Debit Credit Dec. 31 Requirement 3. Post the manufacturing overhead transactions to...
Selected cost data for Classic Poster, Co. are as follows: EEB Click the icon to view...
Selected cost data for Classic Poster, Co. are as follows: EEB Click the icon to view the cost data.) Read the requirements Requirement 1. Compute the predetermined overhead allocation rate per direct labor dollar. Predetermined overhead allocation rate Requirement 2. Prepare the journal entry to allocate overhead cost for the year. (Record debits first, then credits. Exclude explan from journal entries.) Date Accounts Debit Credit Dec. 31 Requirement 3. Use a T-account to determine the amount of underallocated or overallocated...
confused on this part of the equation, i have included my solved data. Requirement 3. Compute...
confused on this part of the equation, i have included my solved
data.
Requirement 3. Compute the underallocated or overallocated manufacturing overhead. How will this underallocated or overallocated manufacturing overhead be disposed of? First calculate the preliminary manufacturing overhead balance using the T-account. Actual indirect materials 170,100 Actual depreciation on plant and equipment Actual indirect manufacturing labor Actual plant utilities Manufacturing Overhead 50,500 Manufacturing overhead allocated 72,500 42,000 38,400 33,300 End Bal Close the under- or overallocated overhead to Cost...
Requirement t outes preden wecation 333 S2 SI 500.000 OSETE Al the beginnin Mar Dire Mac...
Requirement t outes preden wecation 333 S2 SI 500.000 OSETE Al the beginnin Mar Dire Mac At the end of 20 Is manufacturing overhead under located or overallocated? By how much? Manufacturing overhead is Joys Requirement 4. Prepare the journal entry to adjust for the underallocated or overallocated manufacturing overhead Does your entry increase or decrease cost of goods sold? Direct labore Depreciation Property taxes Sales salaries Delivery driver Plantjanitor's Machine hours Debit Accounts Date Credit Dec 31 Does your...
requiremrnt 3 (Click the icon to view the costs.) Read the requirements Estimated overhead cost 870.000...
requiremrnt 3
(Click the icon to view the costs.) Read the requirements Estimated overhead cost 870.000 Estimated machine hours 72,500 Predetermined overhead allocation rate 12 per machine hour $ Requirement 2. Prepare the journal entry to allocate manufacturing overhead. (Record debits first, then credits. Exclude explanations from any journal entries.) Date Debit Credit Dec. 31 Accounts Work-in-Process Inventory Manufacturing Overhead 732.000 732.000 Requirement 3. Post the manufacturing overhead transactions to the T-account and calculate the balance. (Enter the ending balance...
Classic Uniforms produces uniforms. The company allocates manufacturing overhead based on the machine hours each job...
Classic Uniforms produces uniforms. The company allocates manufacturing overhead based on the machine hours each job uses. Classic Uniforms reports the following cost data for the past year: Click the icon to view the cost data.) Read the requirements. Requirement 1. Compute the predetermined manufacturing overhead rate, Enter the formula for predetermined manufacturing overhead rate, then compute the rate. Estimated yearly overhead costs / Estimated yearly machine hours = Predetermined overhead rate per machine hour Requirement 2. Calculate the allocated...
e manufacturing records for Portage Canoes at the end of the 2018 fiscal year show the following information about manufacturing ove Overhead allocated to production Achial manufacturing overhead costs Predetermined overhead allocation rate $ 399,000 431,000 42 per machine hour Read the requirements Requirement 1. How many machine houts did Portage Canoes use in 2018? Actual machine hours how much? Allocated overhead Requirement 2. Was manufacturing overhead over Estimated machine hours Manufacturing overhead is by Predetermined overhead allocation rate Total...
Data Table Estimated manufacturing overhead cost for the year Estimated direct labor cost for the year Actual manufacturing overhead cost for the year Actual direct labor cost for the year $ 120,000 100,000 101,000 76,000 Print Done Selected cost data for Premium Poster, Co. are as follows: (Click the icon to view the cost data.) Read the requirements. Requirement 1. Compute the predetermined overhead allocation rate per direct labor dollar. Predetermined overhead allocation rate % Requirement 2. Prepare the journal...
1 Data Table Estimated manufacturing overhead cost for the year Estimated direct labor cost for the year Actual manufacturing overhead cost for the year $ 150,000 93,750 118,000 Actual direct labor cost for the year 68,000 Print Done Requirement 2. Prepare the journal entry to allocate overhead cost for the year. (Record debits first, then credits. Exclude explanations from journal entries.) Date Accounts Debit Credit Dec. 31 verallocated manufacturing overhead. Accounts Payable Accounts Receivable Cash Requirement 3. Cost of Goods...
Selected cost data for European Poster, Co. are as follows: : (Click the icon to view the cost data.) Read the requirements. Requirement 1. Compute the predetermined overhead allocation rate per direct labor dollar. Predetermined overhead allocation rate Requirement 2. Prepare the journal entry to allocate overhead cost for the year. (Record debits first, then credits. Exclude explanations from journal entries.) Date Accounts Debit Credit Dec. 31 Requirement 3. Use a T-account to determine the amount of underallocated or overallocated...
Martinez Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on the machine hours required. (Click the icon to view the costs.) Read the requirements. Requirement 1. Compute Martinez' predetermined overhead allocation rate. Predetermined overhead allocation rate per machine hour Requirement 2. Prepare the journal entry to allocate manufacturing overhead. (Record debits first, then credits. Exclude explanations from any journal entries.) Date Accounts Debit Credit Dec. 31 Requirement 3. Post the manufacturing overhead transactions to...
Selected cost data for Classic Poster, Co. are as follows: EEB Click the icon to view the cost data.) Read the requirements Requirement 1. Compute the predetermined overhead allocation rate per direct labor dollar. Predetermined overhead allocation rate Requirement 2. Prepare the journal entry to allocate overhead cost for the year. (Record debits first, then credits. Exclude explan from journal entries.) Date Accounts Debit Credit Dec. 31 Requirement 3. Use a T-account to determine the amount of underallocated or overallocated...
confused on this part of the equation, i have included my solved
data.
Requirement 3. Compute the underallocated or overallocated manufacturing overhead. How will this underallocated or overallocated manufacturing overhead be disposed of? First calculate the preliminary manufacturing overhead balance using the T-account. Actual indirect materials 170,100 Actual depreciation on plant and equipment Actual indirect manufacturing labor Actual plant utilities Manufacturing Overhead 50,500 Manufacturing overhead allocated 72,500 42,000 38,400 33,300 End Bal Close the under- or overallocated overhead to Cost...
Requirement t outes preden wecation 333 S2 SI 500.000 OSETE Al the beginnin Mar Dire Mac At the end of 20 Is manufacturing overhead under located or overallocated? By how much? Manufacturing overhead is Joys Requirement 4. Prepare the journal entry to adjust for the underallocated or overallocated manufacturing overhead Does your entry increase or decrease cost of goods sold? Direct labore Depreciation Property taxes Sales salaries Delivery driver Plantjanitor's Machine hours Debit Accounts Date Credit Dec 31 Does your...
requiremrnt 3
(Click the icon to view the costs.) Read the requirements Estimated overhead cost 870.000 Estimated machine hours 72,500 Predetermined overhead allocation rate 12 per machine hour $ Requirement 2. Prepare the journal entry to allocate manufacturing overhead. (Record debits first, then credits. Exclude explanations from any journal entries.) Date Debit Credit Dec. 31 Accounts Work-in-Process Inventory Manufacturing Overhead 732.000 732.000 Requirement 3. Post the manufacturing overhead transactions to the T-account and calculate the balance. (Enter the ending balance...
Classic Uniforms produces uniforms. The company allocates manufacturing overhead based on the machine hours each job uses. Classic Uniforms reports the following cost data for the past year: Click the icon to view the cost data.) Read the requirements. Requirement 1. Compute the predetermined manufacturing overhead rate, Enter the formula for predetermined manufacturing overhead rate, then compute the rate. Estimated yearly overhead costs / Estimated yearly machine hours = Predetermined overhead rate per machine hour Requirement 2. Calculate the allocated...
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