Homework Answers
| Estimated Manufacturing overhead | / | Estimated direct labor cost | = | predetermined overhead allocation rate | ||||||||
| 120,000 | / | 100,000 | = | 120% | ||||||||
| Requirement 2 | ||||||||||||
| Date | Accounts | Debit | Credit | |||||||||
| 31-Dec | work in process inventory | 91200 | ||||||||||
| Manufacturing overhead | 91,200 | |||||||||||
| (76,000*120%) | ||||||||||||
| Requirement 3 | Manufacturing overhead | |||||||||||
| 101,000 | 91,200 | |||||||||||
| Manufacturing overehead is | under allocated | by | 9,800 | |||||||||
| Requirement 4 | ||||||||||||
| Date | Accounts | Debit | Credit | |||||||||
| 31-Dec | cost of goods sold | 9,800 | ||||||||||
| Manufacturing overhead | 9,800 | |||||||||||
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Data Table Estimated manufacturing overhead cost for the year Estimated direct labor cost for the year...
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...
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...
Actual direct labor cost Actual overhead cost Estimated direct labor cost Estimated overhead cost Prodetermined when...
Actual direct labor cost Actual overhead cost Estimated direct labor cost Estimated overhead cost Prodetermined when í Requirements Compute the predetermined overhead allocation rate per direct labor dollar 2. Prepare the journal entry to allocate overhead cost for the year. 3. Use a T-account to determine the amount of underallocated or overallocated maunfacturing overhead. Prepare the journal entry to adjust for the underallocated or overallocated manufacturing overhead. Print Done e from any list or enter any number in the input...
Selected cost data for Classic Print Co we as follows Click the icon to view the...
Selected cost data for Classic Print Co we as follows Click the icon to view the cost Read the recents Requirement 1. Compute the predetermined head alocation rate per direct labor dolls Prede overhead Estimated cost Estimated direct laborost location rate S Data Table Requirement 2. Prepare the journal entry to allocate overhead cost for the year. Record debits first, then credits EX $ 110.000 Dato Accounts Debit Credit 88,000 Estimated manufacturing overhead cost for the year Estimated direct labor...
Job Order Costing Selected cost data for Vintage Print, Co. are as follows: Estimated manufacturing overhead...
Job Order Costing Selected cost data for Vintage Print, Co. are as follows: 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 S116,000 $76,000 1. Compute the predetermined overhead allocation rate per direct labor dollar 2. Prepare the journal entry to allocate overhead cost for the year. 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...
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...
The manufacturing records for Portage Canoes at the end of the 2018 fiscal year show the...
The manufacturing records for Portage Canoes at the end of the 2018 fiscal year show the following information about manufacturing overhead: Overhead allocated to production $ 405,000 Actual manufacturing overhead costs 429,000 Predetermined overhead allocation rate $ 45 per machine hour Read the requirements, Requirement 1. How many machine hours did Portage Canoes use in 2018? = Actual machine hours Requirement 2. Was manufacturing overhead overallocated or underallocated for the year, and by how much? Manufacturing overhead is bys C...
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...
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...
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...
Actual direct labor cost Actual overhead cost Estimated direct labor cost Estimated overhead cost Prodetermined when í Requirements Compute the predetermined overhead allocation rate per direct labor dollar 2. Prepare the journal entry to allocate overhead cost for the year. 3. Use a T-account to determine the amount of underallocated or overallocated maunfacturing overhead. Prepare the journal entry to adjust for the underallocated or overallocated manufacturing overhead. Print Done e from any list or enter any number in the input...
Selected cost data for Classic Print Co we as follows Click the icon to view the cost Read the recents Requirement 1. Compute the predetermined head alocation rate per direct labor dolls Prede overhead Estimated cost Estimated direct laborost location rate S Data Table Requirement 2. Prepare the journal entry to allocate overhead cost for the year. Record debits first, then credits EX $ 110.000 Dato Accounts Debit Credit 88,000 Estimated manufacturing overhead cost for the year Estimated direct labor...
Job Order Costing Selected cost data for Vintage Print, Co. are as follows: 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 S116,000 $76,000 1. Compute the predetermined overhead allocation rate per direct labor dollar 2. Prepare the journal entry to allocate overhead cost for the year. 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...
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...
The manufacturing records for Portage Canoes at the end of the 2018 fiscal year show the following information about manufacturing overhead: Overhead allocated to production $ 405,000 Actual manufacturing overhead costs 429,000 Predetermined overhead allocation rate $ 45 per machine hour Read the requirements, Requirement 1. How many machine hours did Portage Canoes use in 2018? = Actual machine hours Requirement 2. Was manufacturing overhead overallocated or underallocated for the year, and by how much? Manufacturing overhead is bys C...
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...
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