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e Yo i Requirements 1. What is Gray's predetermined overhead allocation rate? 2. What indirect costs...
Pitt Accounting pays Amanda Hilton $102,600 per year. Assume that Pitt's accountants are expected to work...
Pitt Accounting pays Amanda Hilton $102,600 per year. Assume that Pitt's accountants are expected to work a total of 6,000 direct labor hours in 2018. Pitt's estimated total indirect costs are $288,000 and the allocation base used is direct labor hours. Read the requirements. Requirement 1. What is Pitt's predetermined overhead allocation rate? Predetermined overhead allocation rate 11 11 Requirement 2. What indirect costs will be allocated to Client 507 if Amanda Hilton, an accountant at Pitt Accounting, works 13...
Blake Accounting pays Peter Geller $99,000 per year. Assume that Blake's accountants are expected to work...
Blake Accounting pays Peter Geller $99,000 per year. Assume that Blake's accountants are expected to work a total of 12,000 direct labor hours in 2018. Blake's estimated total indirect costs are $384,000 and the allocation base used is direct labor hours. Read the requirements. Requirement 1. What is Blake's predetermined overhead allocation rate? Predetermined overhead allocation rate Requirement 2. What indirect costs will be allocated to Client 507 if Peter Geller, an accountant at Blake Accounting, works 10 hours to...
pays Ryan JohnsonRyan Johnson $ 99 comma 000$99,000 per year. Assume that Blake'sBlake's accountantsaccountants are expected...
pays Ryan JohnsonRyan Johnson $ 99 comma 000$99,000 per year. Assume that Blake'sBlake's accountantsaccountants are expected to work a total of 6 comma 0006,000 direct labor hours in 20182018. Blake'sBlake's estimated total indirect costs are $ 408 comma 000$408,000 and the allocation base used is direct labor hours.Read the requirements LOADING... . Requirement 1. What is Blake'sBlake's predetermined overhead allocation rate? / = Predetermined overhead allocation rate / = Requirement 2. What indirect costs will be allocated to Client 507...
Stein Advertising pays Amanda Hilton $104,400 per year. Assume that Stein's advertising agents are expected to...
Stein Advertising pays Amanda Hilton $104,400 per year. Assume that Stein's advertising agents are expected to work a total of 12,000 direct labor hours in 2018. Stein's estimated total indirect costs are $288,000 and the allocation base used is direct labor hours. Read the requirements. Requirement 1. What is Stein's predetermined overhead allocation rate? = Predetermined overhead allocation rate II Requirement 2. What indirect costs will be allocated to Client 507 if Amanda Hilton, an advertising agent at Stein Advertising,...
Requirements: 1. Compute Young's predetermined manufacturing overhead rate. 2. How much manufacturing overhead was allocated to...
Requirements:
1.
Compute Young's predetermined manufacturing overhead rate.
2.
How much manufacturing overhead was allocated to jobs during
the year?
3.
How much manufacturing overhead was incurred during the year?
Is manufacturing overhead underallocated or overallocated at the
end of the year? By how much?
4.
Were the jobs overcosted or undercosted? By how much?
Young Foundry in Altanta, Georgia, uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the...
(Click the icon to view the costs.) Requirements 1. Compute Smith's predetermined manufacturing overhead rate 2....
(Click the icon to view the costs.) Requirements 1. Compute Smith's predetermined manufacturing overhead rate 2. How much manufacturing overhead was allocated to jobs during the year? 3. How much manufacturing overhead was incurred during the year? Is manufacturing overhead underallocated or overallocated at the end of the year? By how much? 4. Were the jobs overcosted or undercosted? By how much? Data Table Manufacturing overhead costs ........$ 630,000 Direct labor cost . $ 1,650,000 Machine hours. 90,000 At the...
Is Indirect Labor part of Fixed Overhead Costs? I have to calculate the Overhead Allocation Rate...
Is Indirect Labor part of Fixed Overhead Costs? I have to calculate the Overhead Allocation Rate based on the budgeted quantity of cost drivers. From my problem: Overhead is allocated on the basis of direct labor hours. Variable overhead costs include materials and supplies at $4.50 per direct labor hour. Fixed overhead costs include depreciation on equipment and vehicles of $25,000 and miscellaneous other job-related expenses of $10,000. There is also indirect labor of $6,500. My answer: Variable OH Cost...
Gray Accounting pays Tim Johnson $101.760 per year. Requirements 1. What is the hourly cost to...
Gray Accounting pays Tim Johnson $101.760 per year. Requirements 1. What is the hourly cost to Gray Accounting of employing Johnson? Assume a 40-hour week and a 48-week year. 2. What direct labor cost would be assigned to Client 507 if Johnson works 13 hours to prepare Client 507's financial statements? Select the formula below that Gray Accounting would use to calculate the hourly cost and complete the formula. (Round the hourly cost to the nearest cent.) Hourly cost
Jackson Accounting pays Brooke Peet $84.600 per year. Requirements 1. What is the hourly cost to...
Jackson Accounting pays Brooke Peet $84.600 per year. Requirements 1. What is the hourly cost to Jackson Accounting of employing Peet? Assume a 45-hour week and a 47-week year. 2. What direct labor cost would be assigned to Client 507 if Peet works 17 hours to prepare Client 507's financial statements? Requirement 1. What is the hourly cost to Jackson Accounting of employing Peet? Assume a 45-hour week and 47-week year Select the formula below that Jackson Accounting would use...
The predetermined overhead allocation rate for Freestyle, Inc., is based on estimated direct labor costs of $400,00...
The predetermined overhead allocation rate for Freestyle, Inc., is based on estimated direct labor costs of $400,000 and estimated factory overhead of $500,000. Actual costs incurred were: Direct materials. $250,000 400,000 55,000 125,000 50,000 Direct labor Indirect materials....... Indirect labor............................... Sales commissions............. ..... Factory depreciation................. ......... Property taxes, factory.. Factory utilities..... Advertising ...... Factory equipment rental 170,000 15,000 35,000 62,500 100,000 Calculate the predetermined overhead rate and calculate the overhead applied to production during the year (6 points). A. Predetermined...
Pitt Accounting pays Amanda Hilton $102,600 per year. Assume that Pitt's accountants are expected to work a total of 6,000 direct labor hours in 2018. Pitt's estimated total indirect costs are $288,000 and the allocation base used is direct labor hours. Read the requirements. Requirement 1. What is Pitt's predetermined overhead allocation rate? Predetermined overhead allocation rate 11 11 Requirement 2. What indirect costs will be allocated to Client 507 if Amanda Hilton, an accountant at Pitt Accounting, works 13...
Blake Accounting pays Peter Geller $99,000 per year. Assume that Blake's accountants are expected to work a total of 12,000 direct labor hours in 2018. Blake's estimated total indirect costs are $384,000 and the allocation base used is direct labor hours. Read the requirements. Requirement 1. What is Blake's predetermined overhead allocation rate? Predetermined overhead allocation rate Requirement 2. What indirect costs will be allocated to Client 507 if Peter Geller, an accountant at Blake Accounting, works 10 hours to...
Stein Advertising pays Amanda Hilton $104,400 per year. Assume that Stein's advertising agents are expected to work a total of 12,000 direct labor hours in 2018. Stein's estimated total indirect costs are $288,000 and the allocation base used is direct labor hours. Read the requirements. Requirement 1. What is Stein's predetermined overhead allocation rate? = Predetermined overhead allocation rate II Requirement 2. What indirect costs will be allocated to Client 507 if Amanda Hilton, an advertising agent at Stein Advertising,...
Requirements:
1.
Compute Young's predetermined manufacturing overhead rate.
2.
How much manufacturing overhead was allocated to jobs during
the year?
3.
How much manufacturing overhead was incurred during the year?
Is manufacturing overhead underallocated or overallocated at the
end of the year? By how much?
4.
Were the jobs overcosted or undercosted? By how much?
Young Foundry in Altanta, Georgia, uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the...
(Click the icon to view the costs.) Requirements 1. Compute Smith's predetermined manufacturing overhead rate 2. How much manufacturing overhead was allocated to jobs during the year? 3. How much manufacturing overhead was incurred during the year? Is manufacturing overhead underallocated or overallocated at the end of the year? By how much? 4. Were the jobs overcosted or undercosted? By how much? Data Table Manufacturing overhead costs ........$ 630,000 Direct labor cost . $ 1,650,000 Machine hours. 90,000 At the...
Gray Accounting pays Tim Johnson $101.760 per year. Requirements 1. What is the hourly cost to Gray Accounting of employing Johnson? Assume a 40-hour week and a 48-week year. 2. What direct labor cost would be assigned to Client 507 if Johnson works 13 hours to prepare Client 507's financial statements? Select the formula below that Gray Accounting would use to calculate the hourly cost and complete the formula. (Round the hourly cost to the nearest cent.) Hourly cost
Jackson Accounting pays Brooke Peet $84.600 per year. Requirements 1. What is the hourly cost to Jackson Accounting of employing Peet? Assume a 45-hour week and a 47-week year. 2. What direct labor cost would be assigned to Client 507 if Peet works 17 hours to prepare Client 507's financial statements? Requirement 1. What is the hourly cost to Jackson Accounting of employing Peet? Assume a 45-hour week and 47-week year Select the formula below that Jackson Accounting would use...
The predetermined overhead allocation rate for Freestyle, Inc., is based on estimated direct labor costs of $400,000 and estimated factory overhead of $500,000. Actual costs incurred were: Direct materials. $250,000 400,000 55,000 125,000 50,000 Direct labor Indirect materials....... Indirect labor............................... Sales commissions............. ..... Factory depreciation................. ......... Property taxes, factory.. Factory utilities..... Advertising ...... Factory equipment rental 170,000 15,000 35,000 62,500 100,000 Calculate the predetermined overhead rate and calculate the overhead applied to production during the year (6 points). A. Predetermined...
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