Homework Answers
Solution:
A primary driver of overhead costs in continuous manufacturing operations is "Machine hours"
Hence first option is corerct.
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Practice Question 10 A primary driver of overhead costs in continuous manufacturing operations is machine hours....
(19. A primary driver of overhead costs in continuous manufacturing operations is: A) direct labor dollars....
(19. A primary driver of overhead costs in continuous manufacturing operations is: A) direct labor dollars. B) direct labor hours. C) machine hours. D) machine maintenance dollars.
Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs...
Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $347,325 for the year, and machine usage is estimated at 126,300 hours. For the year, $375,125 of overhead costs are incurred and 132,700 hours are used. Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, 1.25.) Manufacturing overhead rate per machine hour SHOW LIST OF ACCOUNTS What is the amount of under or overapplied overhead...
Question 11 EcoFabrics has budgeted overhead costs of $1,096,200. It has allocated overhead on a plantwide...
Question 11 EcoFabrics has budgeted overhead costs of $1,096,200. It has allocated overhead on a plantwide basis to its two products (wool and cotton) using direct labor hours which are estimated to be 522,000 for the current year. The company has decided to experiment with activity-based costing and has created two activity cost pools and related activity cost drivers. These two cost pools are cutting (cost driver is machine hours and design (cost driver is number of setups). Overhead allocated...
Question 11 Sheffield Corp. reported total manufacturing costs of $270000, manufacturing overhead totaling $47000, and direct...
Question 11 Sheffield Corp. reported total manufacturing costs of $270000, manufacturing overhead totaling $47000, and direct materials totaling $59000. How much is direct labor cost? O $211000. $164000. Cannot be determined from the information provided. O $223000. Click if you would like to Show Work for this question: Open Show Work
Bauer Manufacturing uses departmental cost driver rates to allocate manufacturing overhead costs to products. Manufacturing overhead...
Bauer Manufacturing uses departmental cost driver rates to allocate manufacturing overhead costs to products. Manufacturing overhead costs are allocated on the basis of machine-hours in the Machining Department and on the basis of direct labor-hours in the Assembly Department. At the beginning of 20X3, the following estimates were provided for the coming year: Machining Assembly Direct labor-hours 30,000 60,000 Machine-hours 80,000 20,000 Direct labor cost $500,000 $900,000 Manufacturing overhead costs $420,000 $240,000 The accounting records of the company show...
Hill Manufacturing uses departmental cost driver rates to apply manufacturing overhead costs to products. Manufacturing overhead...
Hill Manufacturing uses departmental cost driver rates to apply manufacturing overhead costs to products. Manufacturing overhead costs are applied on the basis of machine-hours in the Machining Department and on the basis of direct labor-hours in the Assembly Department. At the beginning of 20X5, the following estimates were provided for the coming year: Machining Assembly Direct labor-hours 10,000 dlh 90,000 dlh Machine-hours 100,000 mh 5,000 mh Direct labor cost $ 80,000 $720,000 Manufacturing overhead costs $250,000 $360,000 The accounting records...
Exercise 10-3 (Video) Myers Company uses a flexible budget for manufacturing overhead based on direct labor...
Exercise 10-3 (Video) Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows: $1.00 Indirect labor Indirect materials Utilities 0.50 0.20 Fixed overhead costs per month are Supervision $3,500, Depreciation $1,000, and Property Taxes $500. The company believes it will normally operate in a range of 5,500-8,500 direct labor hours per month Prepare a monthly manufacturing overhead flexible budget for 2020 for the expected range...
Coronado Company estimates that annual manufacturing overhead costs will be $828,000. Estimated annual operating activity bases...
Coronado Company estimates that annual manufacturing overhead
costs will be $828,000. Estimated annual operating activity bases
are direct labor cost $450,000, direct labor hours 45,000, and
machine hours 90,000. Compute the predetermined overhead rate for
each activity base.
Brief Exercise 15-06 Coronado Company estimates that annual manufacturing overhead costs will be $828,000. Estimated annual operating activity bases are direct labor cost $450,000, direct labor hours 45,000, and machine hours 90,000. Compute the predetermined overhead rate for each activity base. (Round...
Exercise 15-5 Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used....
Exercise 15-5
Ikerd Company applies manufacturing overhead to jobs on the
basis of machine hours used. Overhead costs are expected to total
$292,552 for the year, and machine usage is estimated at 126,100
hours.
For the year, $399,060 of overhead costs are incurred and 130,500
hours are used.
Compute the manufacturing overhead rate for the year.
(Round answer to 2 decimal places, e.g.
1.52.)
Manufacturing overhead rate
$
per machine hour
SHOW LIST OF ACCOUNTS
LINK TO TEXT
LINK TO...
Estimated total manufacturing overhead costs Actual total manufacturing overhead costs Estimated machine hours Actual machine hours...
Estimated total manufacturing overhead costs Actual total manufacturing overhead costs Estimated machine hours Actual machine hours $750,000 $ 765,000 200,000 hours 198,000 hours Knowledge Check 03 Using the information provided by Amilmar Inc., calculate the predetermined overhead rate. Amilmar has determined machine hours to be the appropriate cost driver to allocate overhead costs. $3.79 $1.02 O $3.75 $3.86 Knowledge Check 04 Amilmar Inc. has provided this information regarding its overhead costs. It has determined machine hours to be the appropriate...
(19. A primary driver of overhead costs in continuous manufacturing operations is: A) direct labor dollars. B) direct labor hours. C) machine hours. D) machine maintenance dollars.
Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $347,325 for the year, and machine usage is estimated at 126,300 hours. For the year, $375,125 of overhead costs are incurred and 132,700 hours are used. Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, 1.25.) Manufacturing overhead rate per machine hour SHOW LIST OF ACCOUNTS What is the amount of under or overapplied overhead...
Question 11 EcoFabrics has budgeted overhead costs of $1,096,200. It has allocated overhead on a plantwide basis to its two products (wool and cotton) using direct labor hours which are estimated to be 522,000 for the current year. The company has decided to experiment with activity-based costing and has created two activity cost pools and related activity cost drivers. These two cost pools are cutting (cost driver is machine hours and design (cost driver is number of setups). Overhead allocated...
Question 11 Sheffield Corp. reported total manufacturing costs of $270000, manufacturing overhead totaling $47000, and direct materials totaling $59000. How much is direct labor cost? O $211000. $164000. Cannot be determined from the information provided. O $223000. Click if you would like to Show Work for this question: Open Show Work
Exercise 10-3 (Video) Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows: $1.00 Indirect labor Indirect materials Utilities 0.50 0.20 Fixed overhead costs per month are Supervision $3,500, Depreciation $1,000, and Property Taxes $500. The company believes it will normally operate in a range of 5,500-8,500 direct labor hours per month Prepare a monthly manufacturing overhead flexible budget for 2020 for the expected range...
Coronado Company estimates that annual manufacturing overhead
costs will be $828,000. Estimated annual operating activity bases
are direct labor cost $450,000, direct labor hours 45,000, and
machine hours 90,000. Compute the predetermined overhead rate for
each activity base.
Brief Exercise 15-06 Coronado Company estimates that annual manufacturing overhead costs will be $828,000. Estimated annual operating activity bases are direct labor cost $450,000, direct labor hours 45,000, and machine hours 90,000. Compute the predetermined overhead rate for each activity base. (Round...
Exercise 15-5
Ikerd Company applies manufacturing overhead to jobs on the
basis of machine hours used. Overhead costs are expected to total
$292,552 for the year, and machine usage is estimated at 126,100
hours.
For the year, $399,060 of overhead costs are incurred and 130,500
hours are used.
Compute the manufacturing overhead rate for the year.
(Round answer to 2 decimal places, e.g.
1.52.)
Manufacturing overhead rate
$
per machine hour
SHOW LIST OF ACCOUNTS
LINK TO TEXT
LINK TO...
Estimated total manufacturing overhead costs Actual total manufacturing overhead costs Estimated machine hours Actual machine hours $750,000 $ 765,000 200,000 hours 198,000 hours Knowledge Check 03 Using the information provided by Amilmar Inc., calculate the predetermined overhead rate. Amilmar has determined machine hours to be the appropriate cost driver to allocate overhead costs. $3.79 $1.02 O $3.75 $3.86 Knowledge Check 04 Amilmar Inc. has provided this information regarding its overhead costs. It has determined machine hours to be the appropriate...
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