confused on this part of the equation, i have included my solved
data.
Homework Answers
Journal entry
| date | account and explanation | Debit | Credit |
| Cost of goods sold | 33300 | ||
| Manufacturing overhead | 33300 | ||
| (To record under allocated overhead) |
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confused on this part of the equation, i have included my solved
data.
Requirement 3. Compute...
#5 Suit U produces uniforms. The company allocates manufacturing overhead based on the machine hours each...
#5
Suit U produces uniforms. The company allocates manufacturing
overhead based on the machine hours each job uses. Suit Up reports
the following cost data for the past year:
answers in blue boxes are wrong, please correct
Actual Budget 7,300 hours 7,100 hours $ 20,000 $ 50,500 6,100 hours 6,300 hours $ 20,000 $ 53,500 Direct labor hours ........ Machine hours .. Depreciation on salespeople's autos ........ Indirect materials Depreciation on trucks used to deliver uniforms to customers Depreciation on...
Classic Uniforms produces uniforms. The company allocates manufacturing overhead based on the machine hours each job...
Classic Uniforms produces uniforms. The company allocates manufacturing overhead based on the machine hours each job uses. Classic Uniforms reports the following cost data for the past year: Click the icon to view the cost data.) Read the requirements. Requirement 1. Compute the predetermined manufacturing overhead rate, Enter the formula for predetermined manufacturing overhead rate, then compute the rate. Estimated yearly overhead costs / Estimated yearly machine hours = Predetermined overhead rate per machine hour Requirement 2. Calculate the allocated...
Classic Uniforms produces uniforms. The company allocates manufacturing overmead based on the machine hours each job...
Classic Uniforms produces uniforms. The company allocates manufacturing overmead based on the machine hours each job uses. Classic Uniforms reports the following cost data for the past year 囲(Click the icon to view the cost data.) Read the recuiremants. Requirements Requirement 1. Compute the predetermined manufacturing overhead rate. Enter the formula for predetermined manufacturing overhead rate, then compute the rate. 1. Compute the predetermined manufacturing overhead rate. 2. Caloulate the allocated manufacturing overhead for the past year 3. Compute the...
Classic Uniforms produces uniforms. The company allocates manufacturing overmead based on the machine hours each job...
Classic Uniforms produces uniforms. The company allocates manufacturing overmead based on the machine hours each job uses. Classic Uniforms reports the following cost data for the past year 囲(Click the icon to view the cost data.) Read the recuiremants. Requirements Requirement 1. Compute the predetermined manufacturing overhead rate. Enter the formula for predetermined manufacturing overhead rate, then compute the rate. 1. Compute the predetermined manufacturing overhead rate. 2. Caloulate the allocated manufacturing overhead for the past year 3. Compute the...
Suit Up produces uniforms. The company allocates manufacturing overhead based on the machine hours each job...
Suit Up produces uniforms. The company allocates manufacturing overhead based on the machine hours each job uses Suit Up reports the following cost data for the past year: (Click the icon to view the cost data) Read the requirements empts Enter the formula for predetermined manufacturing overhead rate, the compute the rate Estimated yearly overhead costs / Estimated yearly machine hours . Predetermined overhead rate 6400 = per machine hour Requirement 2. Calculate the allocated manufacturing overhead for the past...
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...
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...
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...
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...
#5
Suit U produces uniforms. The company allocates manufacturing
overhead based on the machine hours each job uses. Suit Up reports
the following cost data for the past year:
answers in blue boxes are wrong, please correct
Actual Budget 7,300 hours 7,100 hours $ 20,000 $ 50,500 6,100 hours 6,300 hours $ 20,000 $ 53,500 Direct labor hours ........ Machine hours .. Depreciation on salespeople's autos ........ Indirect materials Depreciation on trucks used to deliver uniforms to customers Depreciation on...
Classic Uniforms produces uniforms. The company allocates manufacturing overhead based on the machine hours each job uses. Classic Uniforms reports the following cost data for the past year: Click the icon to view the cost data.) Read the requirements. Requirement 1. Compute the predetermined manufacturing overhead rate, Enter the formula for predetermined manufacturing overhead rate, then compute the rate. Estimated yearly overhead costs / Estimated yearly machine hours = Predetermined overhead rate per machine hour Requirement 2. Calculate the allocated...
Classic Uniforms produces uniforms. The company allocates manufacturing overmead based on the machine hours each job uses. Classic Uniforms reports the following cost data for the past year 囲(Click the icon to view the cost data.) Read the recuiremants. Requirements Requirement 1. Compute the predetermined manufacturing overhead rate. Enter the formula for predetermined manufacturing overhead rate, then compute the rate. 1. Compute the predetermined manufacturing overhead rate. 2. Caloulate the allocated manufacturing overhead for the past year 3. Compute the...
Classic Uniforms produces uniforms. The company allocates manufacturing overmead based on the machine hours each job uses. Classic Uniforms reports the following cost data for the past year 囲(Click the icon to view the cost data.) Read the recuiremants. Requirements Requirement 1. Compute the predetermined manufacturing overhead rate. Enter the formula for predetermined manufacturing overhead rate, then compute the rate. 1. Compute the predetermined manufacturing overhead rate. 2. Caloulate the allocated manufacturing overhead for the past year 3. Compute the...
Suit Up produces uniforms. The company allocates manufacturing overhead based on the machine hours each job uses Suit Up reports the following cost data for the past year: (Click the icon to view the cost data) Read the requirements empts Enter the formula for predetermined manufacturing overhead rate, the compute the rate Estimated yearly overhead costs / Estimated yearly machine hours . Predetermined overhead rate 6400 = per machine hour Requirement 2. Calculate the allocated manufacturing overhead for the past...
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...
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...
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...
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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