Homework Answers
Correct answer----------$1520000 applied and $55000 underapplied
Working
| (A) | Budgeted Manufacturing Overheads | $ 1,600,000 |
| (B) | Estimated Machine hours | 200,000 |
| C= (A/B) | Predetermined Overhead rate | $ 8.00 |
| (D) | Actual Machine hours | 190,000 |
| E=(DxC) | Overheads Applied | $ 1,520,000 |
| (F) | Actual Overheads | $ 1,575,000 |
| G=(F-E) | Overheads Underapplied | -$ 55,000 |
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Multiple Choice Question 125 Marigold Corp. applies overhead on the basis of machine hours. Given the...
Current Attempt in Progress Sheffield Corp, applies overhead on the basis of machine hours. Given the...
Current Attempt in Progress Sheffield Corp, applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under or overapplication of overhead for the period: cost Estimated annual overhead $4300000 Actual annual overhead cost $4270000 Estimated machine hours 200000 Actual machine hours 195000 $4192500 applied and $77500 underapplied $4270000 applied and neither under nor overapplied $4300000 applied and $77500 overapplied $4192500 applied and $77500 overapplied
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Bonita Industries applies overhead on the basis of machine hours. Given the following data, compute overhead...
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skip 23,24,26 22. Hen Hao Professor Mullen, Inc applies overhead on the basis of machine hours....
skip 23,24,26
22. Hen Hao Professor Mullen, Inc applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under-or overapplication of overhead for the period: Estimated SS annual overhead cost $1,200,000 Actual SS annual overhead cost $1,155,000 Estimated machine hours 400,000 Actual machine hours 380,000 A) $1,140,000 applied and $15,000 overapplied B) $1,200,000 applied and $15,000 overapplied C) $1,140,000 applied and $15,000 underapplied D) $1,145,000 applied and neither under- nor overapplied 23. If...
Marigold Corp. thinks machine hours is the best activity base for its manufacturing overhead. The estimate...
Marigold Corp. thinks machine hours is the best activity base
for its manufacturing overhead. The estimate of annual overhead
costs for its jobs was $1550000. The company used 1000 hours of
processing on Job No. B12 during the period and incurred overhead
costs totaling $1600000. The budgeted machine hours for the year
totaled 20000. How much overhead should be applied to Job No.
B12?
$80000
$77500
$1600
$1550
Marigold Corp. thinks machine hours is the best activity base for its manufacturing overhead. The estimate...
Marigold Corp. thinks machine hours is the best activity base
for its manufacturing overhead. The estimate of annual overhead
costs for its jobs was $1550000. The company used 1000 hours of
processing on Job No. B12 during the period and incurred overhead
costs totaling $1600000. The budgeted machine hours for the year
totaled 20000. How much overhead should be applied to Job No.
B12?
Sheridan Company manufactures customized desks. The following
pertains to Job No. 953:
Direct materials used
$31800...
lkerd Company applies overhead to jobs on the basis of machine hours used. Overhead costs are...
lkerd Company applies overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $300,000 for the year, and machine usage is estimated at 125,000 hours. For the year, $322,000 of overhead costs are incurred and 130,000 hours are used. Instructions (a) Compute the manufacturing overhead rate for the year (b) What is the amount of under-or overapplied overhead at December 31? (c) Prepare the adjusting entry to assign the under- or overapplied overhead for...
Data Allocation base Machine-hours Estimated manufacturing overhead cost $300,000 Estimated total amount of the allocation base...
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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...
Current Attempt in Progress Sheffield Corp, applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under or overapplication of overhead for the period: cost Estimated annual overhead $4300000 Actual annual overhead cost $4270000 Estimated machine hours 200000 Actual machine hours 195000 $4192500 applied and $77500 underapplied $4270000 applied and neither under nor overapplied $4300000 applied and $77500 overapplied $4192500 applied and $77500 overapplied
skip 23,24,26
22. Hen Hao Professor Mullen, Inc applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under-or overapplication of overhead for the period: Estimated SS annual overhead cost $1,200,000 Actual SS annual overhead cost $1,155,000 Estimated machine hours 400,000 Actual machine hours 380,000 A) $1,140,000 applied and $15,000 overapplied B) $1,200,000 applied and $15,000 overapplied C) $1,140,000 applied and $15,000 underapplied D) $1,145,000 applied and neither under- nor overapplied 23. If...
Marigold Corp. thinks machine hours is the best activity base
for its manufacturing overhead. The estimate of annual overhead
costs for its jobs was $1550000. The company used 1000 hours of
processing on Job No. B12 during the period and incurred overhead
costs totaling $1600000. The budgeted machine hours for the year
totaled 20000. How much overhead should be applied to Job No.
B12?
$80000
$77500
$1600
$1550
Marigold Corp. thinks machine hours is the best activity base
for its manufacturing overhead. The estimate of annual overhead
costs for its jobs was $1550000. The company used 1000 hours of
processing on Job No. B12 during the period and incurred overhead
costs totaling $1600000. The budgeted machine hours for the year
totaled 20000. How much overhead should be applied to Job No.
B12?
Sheridan Company manufactures customized desks. The following
pertains to Job No. 953:
Direct materials used
$31800...
lkerd Company applies overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $300,000 for the year, and machine usage is estimated at 125,000 hours. For the year, $322,000 of overhead costs are incurred and 130,000 hours are used. Instructions (a) Compute the manufacturing overhead rate for the year (b) What is the amount of under-or overapplied overhead at December 31? (c) Prepare the adjusting entry to assign the under- or overapplied overhead for...
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...
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