Jackson Inc. listed the following data for 2019: Budgeted factory overhead Budgeted direct labor hours Budgeted...

Question

Question

Jackson Inc. listed the following data for 2019: Budgeted factory overhead Budgeted direct labor hours Budgeted machine hours

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Applied overhead cost = (Budgeted factory overhead/ Budgeted direct labor Hour)* Actual direct labor Hour

(1260,000/75000)*87600 = $1471,680

Overapplied overhead= $(1471,680-1040,300) =$431,380

ANS: $431,380 is overapplied overhead

Add a comment

Answer 2

Similar Homework Help Questions

Jackson Inc. listed the following data for 2019: Budgeted factory overhead Budgeted direct labor hours Budgeted...

Jackson Inc. listed the following data for 2019: Budgeted factory overhead Budgeted direct labor hours Budgeted machine hours Actual factory overhead Actual direct labor hours Actual machine hours $1,505,000 86,000 43,000 1,402,000 88,300 41,400 If overhead is applied based on machine hours, the overapplied/underapplied overhead is (round calculations to 2 significant digits): Multiple Choice $49,059 overapplied. $47,000 underapplied. $47,000 overapplied. $49,059 underapplied.
Jackson Inc. listed the following data for 2019: 10 Budgeted factory overhead Budgeted direct labor hours...

Jackson Inc. listed the following data for 2019: 10 Budgeted factory overhead Budgeted direct labor hours Budgeted machine hours Actual factory overhead Actual direct Labor hours Actual machine hours $1,505,000 86,000 43,000 1,150,400 88,300 41,400 points If overhead is applied based on direct labor hours, overapplied/underapplied overhead is (round calculations to 2 significant digitsh Multiple Choice 10 $394850 overapplied 4 394,850 underapplied $467,985 underapplied s-0- $467,985 overapplied < Prey 100f 50 Next > 딤0 FI F2 F3 14 FS F7...
Jackson Inc. listed the following data for 2019: כ7 Budgeted factory overhead Budgeted direct labor hours...

Jackson Inc. listed the following data for 2019: כ7 Budgeted factory overhead Budgeted direct labor hours Budgeted machine hours Actual factory overhead Actual direct labor hours Actual machine hours $1,256, 000 80,000 40,000 1,201,200 86,500 39,600 Assuming Jackson Inc. applied overhead based on machine hours, the firm's predetermined overhead rate for 2019 (round calculations to 2 significant digits) is Multiple Choice $37.98 per machine hour $32.95 per machine hour $31.70 per machine hour. $28.33 per machine hour 31.40 per machine...

Jackson Inc. listed the following data for 2019 14 Budgeted factory overhead Budgeted direct labor hours...

Jackson Inc. listed the following data for 2019 14 Budgeted factory overhead Budgeted direct labor hours Budgeted machine hours Actual factory overhead Actual direct labor hours Actual machine hours $1,287,000 82,500 44,000 1,201,100 86,400 39,500 Skipped Assuming Jackson Inc. applied overhead based on direct labor hours, the firm's predetermined overhead rate for 2019 is (round calculations to 2 significant digits): Multiple Choice $15.93 per direct labor hour $14.39 per direct labor hour. $16.26 per direct labor hour. $15.60 per direct...
Sutherland Company listed the following data for 2019: Budgeted factory overhead Budgeted direct labor hours Budgeted...

Sutherland Company listed the following data for 2019: Budgeted factory overhead Budgeted direct labor hours Budgeted machine hours Actual factory overhead Actual direct labor hours Actual machine hours $1,984,000 80,000 50,000 1,024,000 84,600 49,800 Skipped Assuming Sutherland applied overhead based on machine hours, the company's predetermined overhead rate for 2019 is (round to two significant digits): We were unable to transcribe this image
If estimated annual factory overhead is $546,000; overhead is applied using direct labor hours; estimated annual...

If estimated annual factory overhead is $546,000; overhead is applied using direct labor hours; estimated annual direct labor hours are 210,000; actual March factory overhead is $48,100; and actual March direct labor hours are 18,000; then overhead is: Multiple Choice $300 underapplied $300 overapplied $1,300 underapplied 900 overapplied $900 underapplied

Reyes Corporation applies overhead using a normal costing approach based upon machine-hours. Budgeted factory overhead was...

Reyes Corporation applies overhead using a normal costing approach based upon machine-hours. Budgeted factory overhead was $267,840, budgeted machine-hours were 18,600. Actual factory overhead was $288,420, actual machine-hours were 19,150. How much is the over- or underapplied overhead? Multiple Choice $20,034 underapplied. $12,660 underapplied. $7,374 overapplied. $0.
A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the...

A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $367,308 and direct labor hours would be 40,812. Actual factory overhead costs incurred were $439,214, and actual direct labor hours were 50,835. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year? a.$18,301 underapplied b.$457,515 overapplied c.$90,207 underapplied d.$18,301 overapplied
A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the...

A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $426,870 and direct labor hours would be 47,430. Actual factory overhead costs incurred were $462,974, and actual direct labor hours were 53,585. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year? a.$55,395 underapplied b.$482,265 overapplied c.$19,291 underapplied d.$19,291 overapplied

Crich Corporation uses direct labor hours in its predetermined overhead rate. At the beginning of the...

Crich Corporation uses direct labor hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 21,880 hours and the total estimated manufacturing overhead was $516,368. At the end of the year, actual direct labor-hours for the year were 21700 hours and the actual manufacturing overhead for the year was $516,368. Overhead at the end of the year was: (Round your intermediate calculations to 2 decimal places.) Multiple Choice $4298 overapplied $4,298 underapplied O...

Jackson Inc. listed the following data for 2019: Budgeted factory overhead Budgeted direct labor hours Budgeted...

Homework Answers