Homework Answers
Predetermined Overhead rate = Estimated overhead/Allocation base
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Predetermined overhead rate for department A = 91,000/65,000 = 140% |
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Predetermined overhead rate for Department B = 48,000/12,000 = 4 |
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Question 9 8 pts 1. The Collins Company uses predetermined overhead rates to apply manufacturing overhead...
The Silver Corporation uses a predetermined overhead rate to apply manufacturing overhead to jobs. The predetermined...
The Silver Corporation uses a predetermined overhead rate to apply manufacturing overhead to jobs. The predetermined overhead rate is based on labor cost in Dept. A and on machine-hours in Dept. B. At the beginning of the year, the Corporation made the following estimates: Direct labor cost Manufacturing overhead Direct labor-hours Machine-hours Dept. A Dept. B $60,000 $40,000 $90,000 $45,000 6,000 9,000 2,000 15,000 What predetermined overhead rates would be used in Dept. A and Dept. B, respectively? Multiple Choice...
help The Watts Company uses predetermined overhead rates to y manufacturing overhead to jobs the predetermined...
help
The Watts Company uses predetermined overhead rates to y manufacturing overhead to jobs the predetermined overhead rate is based on labor cost in Dept A and on machine hours in Dept. 8. At the beginning of the year, the company made the following estimates: Dept. A Dept. B Direct Labor Cost $30,000 $40,000 Manufacturing Overhead 60.000 50,000 Direct Labor Hours 6,000 8.000 Machine Hours 10,000 2,000 What predetermined overhead rates would be used in Dept. A and Dept. 8....
Problem 3-21 (Algo) Plantwide Versus Multiple Predetermined Overhead Rates (LO3-1, LO3-2] Mason Company has two manufacturing...
Problem 3-21 (Algo) Plantwide Versus Multiple Predetermined Overhead Rates (LO3-1, LO3-2] Mason Company has two manufacturing departments-Machining and Assembly. The company considers all of its manufacturing overhead costs to be fixed costs. It provided the following estimates at the beginning of the year as well as the following Information with respect to Jobs A and B: $ Estimated Data Manufacturing overhead Direct labor hours Machine hours Machining $ 1,008,000 12,000 84,000 Assembly 144,000 84,000 7,000 Total $1,152,000 96,000 91,000 Machining...
What are the calculations to solving part B? 4. Minjae Company uses departmental manufacturing overhead rates...
What are the calculations to solving part B?
4. Minjae Company uses departmental manufacturing overhead rates to apply overhead. Direct labor cost is used to apply manufacturing overhead in Department A and machine hours are used for Department B. Below are estimated costs for Miniae Company Direct Labor Cost Factory Overhead Direct Labor Hours Machine Hours Dept. A $66,000 $79,200 8,000 4.000 Dept. B $33,000 $60,000 9,000 15.000 | Actual costs are given below: Direct Labor Cost Factory Overhead Direct...
Problem 2-19 Multiple Predetermined Overhead Rates; Applying Overhead (LO2-1, LO2-2, LO2-4) High Desert Potteryworks makes a...
Problem 2-19 Multiple Predetermined Overhead Rates; Applying Overhead (LO2-1, LO2-2, LO2-4) High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in which departmental predetermined overhead rates are used to apply manufacturing overhead cost to jobs. The predetermined overhead rate in the Molding Department is based on machine-hours, and the rate in the Painting Department is based on direct labor- hours. At the beginning of the year, the company...
Question 2 (Job costing, accounting for manufacturing overhead rates) 25 Marks) The Matthew Company uses a...
Question 2 (Job costing, accounting for manufacturing overhead rates) 25 Marks) The Matthew Company uses a normal job-costing system at its Minneapolis plant. The plant has a machining department and an assembly department. Its job- costing system has two direct-cost categories (direct materials and direct manufacturing labor) and two manufacturing overhead cost pools (the machining department overhead, allocated to jobs based on actual machine-hours, and the assembly department overhead, allocated to jobs based on actual direct manufacturing labor costs). The...
The Dewey Company uses a predetermined overhead rate to apply manufacturing overhead to production. The rate...
The Dewey Company uses a predetermined overhead rate to apply manufacturing overhead to production. The rate is based on direct labor hours. Estimates for the year just ended are as follows: Estimated manufacturing overhead $300,000 Estimated direct labor hours 60,000 During the year Dewey Company used 37,000 direct labor hours. At the end of the year, Dewey Company records revealed the following information: Raw materials inventory $ 35,000 Work-in-process inventory 60,000 Finished goods inventory 105,000 Cost of goods sold 400,000...
Kimmel Corporation has two production departments and uses departmental predetermined overhead rates based on direct labor...
Kimmel Corporation has two production departments and uses departmental predetermined overhead rates based on direct labor cost to apply manufacturing overhead to jobs. The predetermined overhead rates for the year are $2 per direct labor dollar for Department A and $0.50 per direct labor dollar for Department B. The following data are available for Job 628, which was started and completed during the year Dept. A Dept. B Direct materials $60,000 $25,000 ??? $60,000 Direct labor Manufacturing overhead $80,000 ???...
year? Walsh Corporation uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to...
year? Walsh Corporation uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. The Corporation estimated that it would incur $255,000 in manufacturing overhead during the year and that it would work 100,000 machine hours. The Corporation actually worked 105 000 machine-hours and incurred串270 000 n manufacturing overhead costs. By how much wa$ manufacturing overhead underapplied or overapplied for the Select one: a. $2,250 underapplied b. $2,250 overapplied С. $15,000 underapplied d. $15,000 overapplied At the...
Exercise 2-13 Departmental Predetermined Overhead Rates [LO2-1, LO2-2, LO2-4] e Company has two departments, Cutting and...
Exercise 2-13 Departmental Predetermined Overhead Rates [LO2-1, LO2-2, LO2-4] e Company has two departments, Cutting and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each department. The Cutting Department bases its rate on machine-hours, and the Finishing Department bases its rate on direct labor-hours. At the beginning of the year, the company made the following estimates White Machine-hours Total fixed manufacturing overhead cost 30,000 5,000 264,000 366,000 ,000 48,000 Variable manufacturing overhead per...
The Silver Corporation uses a predetermined overhead rate to apply manufacturing overhead to jobs. The predetermined overhead rate is based on labor cost in Dept. A and on machine-hours in Dept. B. At the beginning of the year, the Corporation made the following estimates: Direct labor cost Manufacturing overhead Direct labor-hours Machine-hours Dept. A Dept. B $60,000 $40,000 $90,000 $45,000 6,000 9,000 2,000 15,000 What predetermined overhead rates would be used in Dept. A and Dept. B, respectively? Multiple Choice...
help
The Watts Company uses predetermined overhead rates to y manufacturing overhead to jobs the predetermined overhead rate is based on labor cost in Dept A and on machine hours in Dept. 8. At the beginning of the year, the company made the following estimates: Dept. A Dept. B Direct Labor Cost $30,000 $40,000 Manufacturing Overhead 60.000 50,000 Direct Labor Hours 6,000 8.000 Machine Hours 10,000 2,000 What predetermined overhead rates would be used in Dept. A and Dept. 8....
Problem 3-21 (Algo) Plantwide Versus Multiple Predetermined Overhead Rates (LO3-1, LO3-2] Mason Company has two manufacturing departments-Machining and Assembly. The company considers all of its manufacturing overhead costs to be fixed costs. It provided the following estimates at the beginning of the year as well as the following Information with respect to Jobs A and B: $ Estimated Data Manufacturing overhead Direct labor hours Machine hours Machining $ 1,008,000 12,000 84,000 Assembly 144,000 84,000 7,000 Total $1,152,000 96,000 91,000 Machining...
What are the calculations to solving part B?
4. Minjae Company uses departmental manufacturing overhead rates to apply overhead. Direct labor cost is used to apply manufacturing overhead in Department A and machine hours are used for Department B. Below are estimated costs for Miniae Company Direct Labor Cost Factory Overhead Direct Labor Hours Machine Hours Dept. A $66,000 $79,200 8,000 4.000 Dept. B $33,000 $60,000 9,000 15.000 | Actual costs are given below: Direct Labor Cost Factory Overhead Direct...
Problem 2-19 Multiple Predetermined Overhead Rates; Applying Overhead (LO2-1, LO2-2, LO2-4) High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in which departmental predetermined overhead rates are used to apply manufacturing overhead cost to jobs. The predetermined overhead rate in the Molding Department is based on machine-hours, and the rate in the Painting Department is based on direct labor- hours. At the beginning of the year, the company...
Question 2 (Job costing, accounting for manufacturing overhead rates) 25 Marks) The Matthew Company uses a normal job-costing system at its Minneapolis plant. The plant has a machining department and an assembly department. Its job- costing system has two direct-cost categories (direct materials and direct manufacturing labor) and two manufacturing overhead cost pools (the machining department overhead, allocated to jobs based on actual machine-hours, and the assembly department overhead, allocated to jobs based on actual direct manufacturing labor costs). The...
Kimmel Corporation has two production departments and uses departmental predetermined overhead rates based on direct labor cost to apply manufacturing overhead to jobs. The predetermined overhead rates for the year are $2 per direct labor dollar for Department A and $0.50 per direct labor dollar for Department B. The following data are available for Job 628, which was started and completed during the year Dept. A Dept. B Direct materials $60,000 $25,000 ??? $60,000 Direct labor Manufacturing overhead $80,000 ???...
year? Walsh Corporation uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. The Corporation estimated that it would incur $255,000 in manufacturing overhead during the year and that it would work 100,000 machine hours. The Corporation actually worked 105 000 machine-hours and incurred串270 000 n manufacturing overhead costs. By how much wa$ manufacturing overhead underapplied or overapplied for the Select one: a. $2,250 underapplied b. $2,250 overapplied С. $15,000 underapplied d. $15,000 overapplied At the...
Exercise 2-13 Departmental Predetermined Overhead Rates [LO2-1, LO2-2, LO2-4] e Company has two departments, Cutting and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each department. The Cutting Department bases its rate on machine-hours, and the Finishing Department bases its rate on direct labor-hours. At the beginning of the year, the company made the following estimates White Machine-hours Total fixed manufacturing overhead cost 30,000 5,000 264,000 366,000 ,000 48,000 Variable manufacturing overhead per...
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