Homework Answers
Actual overhead incurred is $225,000 but allocated overhead is only $200,000.
It means $225,000 is spent by only $200,000 is recorded in the books.
Overhead is under allocated by $25,000 ($225,000 - $200,000)
The Journal entry for under allocation is:
| Account Titles | Debit | Credit |
| Cost of goods sold | $25,000 | - |
| Manufacturing overhead | - | $25,000 |
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1. Compute the budgeted
manufacturing overhead rate for 2017. 2. Compute the under- or
overallocated manufacturing overhead of Radiator in 2017. Dispose
of this amount using the following:
a. Write-off to Cost of Goods Sold
b. Proration based on ending balances (before proration) in
Work-in-Process Control, Finished Goods Control, and Cost of Goods
Sold
c. Proration based on the overhead allocated in 2017(before
proration) in the ending balances of Work-in-Process Control,
Finished Goods Control, and Cost of Goods Sold 3....
1. Compute the budgeted manufacturing overhead rate for 2017. 2. Compute the under- or overallocated manufacturing...
1.
Compute the budgeted manufacturing overhead rate
for
2017.
2.
Compute the under- or overallocated manufacturing
overhead of
Home
Radiator in
2017.
Dispose of this amount using the following:
a.
Write-off to Cost of Goods Sold
b.
Proration based on ending balances (before proration) in
Work-in-Process Control, Finished Goods Control, and Cost of Goods
Sold
c.
Proration based on the overhead allocated in
2017
(before proration) in the ending balances of Work-in-Process
Control, Finished Goods Control, and Cost of Goods...
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1. Compute the budgeted
manufacturing overhead rate for 2017. 2. Compute the under- or
overallocated manufacturing overhead of Radiator in 2017. Dispose
of this amount using the following:
a. Write-off to Cost of Goods Sold
b. Proration based on ending balances (before proration) in
Work-in-Process Control, Finished Goods Control, and Cost of Goods
Sold
c. Proration based on the overhead allocated in 2017(before
proration) in the ending balances of Work-in-Process Control,
Finished Goods Control, and Cost of Goods Sold 3....
1.
Compute the budgeted manufacturing overhead rate
for
2017.
2.
Compute the under- or overallocated manufacturing
overhead of
Home
Radiator in
2017.
Dispose of this amount using the following:
a.
Write-off to Cost of Goods Sold
b.
Proration based on ending balances (before proration) in
Work-in-Process Control, Finished Goods Control, and Cost of Goods
Sold
c.
Proration based on the overhead allocated in
2017
(before proration) in the ending balances of Work-in-Process
Control, Finished Goods Control, and Cost of Goods...
The Wamth Radiator Company uses a normal-costing system with a single manufacturing overhead cost pool and machine-hours as the cost-allocation base. The following data are for 2017: (Click the icon to view the following data.) Read the requirements. i Data Table X Requirements Budgeted manufacturing overhead costs $ 4,900,000 Overhead allocation base Machine-hours Budgeted machine-hours 70,000 Manufacturing overhead costs incurred $ 5,100,000 Actual machine-hours 65,000 Machine-hours data and the ending balances (before proration of under-or overallocated overhead) are as follows:...
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