Homework Answers
1
Compute the firm’s predetermined overhead rate, which is based on direct-labor hours
Answer:
|
Predetermined overhead rate |
14.25 |
Per DLH |
Working notes for the above answer is as under
predetermined overhead rate
= Budgeted manufacturing overhead/ Budgeted direct-labor hour
=997500/70,000
=14.25 Per DLH
Add Answer to:
The following information pertains to Trenton G ass Works for the yeo just enderd Budgeted direct-...
The following information pertains to Trenton Glass Works for the year just ended. Budgeted direct-labor cost:...
The following information pertains to Trenton Glass Works for
the year just ended.
Budgeted direct-labor cost: 75,000 hours (practical capacity) at
$16 per hour
Actual direct-labor cost: 80,000 hours at $17.50 per hour
Budgeted manufacturing overhead: $997,500
Actual selling and administrative expenses: 437,000
Actual manufacturing overhead:
Depreciation
$
234,000
Property taxes
22,000
Indirect labor
82,000
Supervisory salaries
202,000
Utilities
58,000
Insurance
33,000
Rental of space
303,000
Indirect material (see data below)
80,000
Indirect material:
Beginning inventory, January 1
49,000
Purchases...
QUESTION # 2 The following information pertains to Glass Works Company for 2014. Budgeted direct-labour cost:...
QUESTION # 2 The following information pertains to Glass Works Company for 2014. Budgeted direct-labour cost: --------------------------------75,000 hours at $16 per hour Actual direct-labour cost: ------------------------------------80,000 hours at $17.50 per hour. Budgeted Manufacturing Overhead: ---------------------$ 997,500 Actual Manufacturing Overhead: Depreciation ------------------------------------------------- $ 240,000 Property Taxes---------------------------------------------------12,000 Indirect Labour --------------------------------------------------82,000 Supervisory Salaries --------------------------------------------200,000 Utilities------------------------------------------------------------ 59,000 Insurance ----------------------------------------------------------30,000 Rental of Space-------------------------------------------------- 300,000 Indirect Material --------------------------------------------------- 79,000 Required a) Compute the firm’s predetermined overhead rate, which is based on direct-labour hours. (3 marks) b)...
QUESTION # 2 The following information pertains to Glass Works Company for 2014. Budgeted direct-labour cost:...
QUESTION # 2 The following information pertains to Glass Works Company for 2014. Budgeted direct-labour cost: --------------------------------75,000 hours at $16 per hour Actual direct-labour cost: ------------------------------------80,000 hours at $17.50 per hour. Budgeted Manufacturing Overhead: ---------------------$ 997,500 Actual Manufacturing Overhead: Depreciation ------------------------------------------------- $ 240,000 Property Taxes---------------------------------------------------12,000 Indirect Labour --------------------------------------------------82,000 Supervisory Salaries --------------------------------------------200,000 Utilities------------------------------------------------------------ 59,000 Insurance ----------------------------------------------------------30,000 Rental of Space-------------------------------------------------- 300,000 Indirect Material --------------------------------------------------- 79,000 Required a) Compute the firm’s predetermined overhead rate, which is based on direct-labour hours. (3 marks) b)...
Required information [The following information applies to the questions displayed below.] he following information pertains to...
Required information [The following information applies to the questions displayed below.] he following information pertains to Trenton Glass Works for the year just ended Budgeted direct-labor cost: 70,000 hours (practical capacity) at $16 per hour Actual direct-labor cost: 80,000 hours at $17.50 per hour Budgeted manufacturing overhead: $997,500 Actual selling and administrative expenses: 438,000 Actual manufacturing overhead: Depreciation Property taxes Indirect labor Supervisory salaries Utilities Insurance Rental of space Indirect material (see data below) $231,000 21,000 80,000 201,000 59,000 31,000...
The following data pertain to the Oneida Restaurant Supply Company for the year just ended. Budgeted...
The following data pertain to the Oneida Restaurant Supply Company for the year just ended. Budgeted sales revenue $ 210,000 Actual manufacturing overhead 364,000 Budgeted machine hours (based on practical capacity) 20,000 Budgeted direct-labor hours (based on practical capacity) 20,000 Budgeted direct-labor rate $ 14 Budgeted manufacturing overhead $ 340,000 Actual machine hours 11,000 Actual direct-labor hours 18,000 Actual direct-labor rate $ 16 Prepare a journal entry to add to work-in-process inventory the total manufacturing overhead cost for the year,...
The following data pertain to the Oneida Restaurant Supply Company for the year just ended. Budgeted...
The following data pertain to the Oneida Restaurant Supply Company for the year just ended. Budgeted sales revenue Actual manufacturing overhead Budgeted machine hours (based on practical capacity) Budgeted direct-labor hours (based on practical capacity) Budgeted direct-labor rate Budgeted manufacturing overhead Actual machine hours Actual direct-labor hours Actual direct-labor rate $210,000 364,000 20,000 20,000 13 $338,000 11,000 18,000 $ 16 Required: Prepare a journal entry to add to work-in-process inventory the total manufacturing overhead cost for the year, assuming: 1....
The following data pertain to the Oneida Restaurant Supply Company for the year just ended. Budgeted...
The following data pertain to the Oneida Restaurant Supply Company for the year just ended. Budgeted sales revenue Actual manufacturing overhead Budgeted machine hours (based on practical capacity) Budgeted direct-labor hours (based on practical capacity) Budgeted direct-labor rate Budgeted manufacturing overhead Actual machine hours Actual direct-labor hours Actual direct-labor rate $ 210,000 364,000 20,000 20,000 $ 13 $338,000 11,000 18,000 $ 16 Required: Prepare a journal entry to add to work-in-process inventory the total manufacturing overhead cost for the year,...
The following information is available as of December 31, 2017 Click the icon to view the...
The following information is available as of December 31, 2017 Click the icon to view the information) Donna Corporation manufactures custom cabinets for kitchens. It uses a normal costing system with two direct cost categories direct materials and direct manufacturing labor and one indirect-cost pool, manufacturing overhead costs. It provides the following information about manufacturing overhead costs for 2017 (Click the icon to view the manufacturing overhead cost information for 2017) Requirement Calculate the underallocated or overallocated manufacturing overhead at...
Direct Materials and Direct Labor Variances At the beginning of June, Kimber Toy Company budgeted 12,000...
Direct Materials and Direct Labor Variances At the beginning of June, Kimber Toy Company budgeted 12,000 toy action figures to be manufactured in June at standard direct materials and direct labor costs as follows: Direct materials Direct labor $18,000 11,760 $29,760 Total The standard materials price is $0.60 per pound. The standard direct labor rate is $14.00 per hour. At the end of June, the actual direct materials and direct labor costs were as follows: Actual direct materials $16,400 Actual...
04. O period costs. direct material, direct labor, and manufacturing overhead. 9 Which of the following...
04. O period costs. direct material, direct labor, and manufacturing overhead. 9 Which of the following employees would not be classified as indirect labor? 01. O An employee that packs products for shipment. 02. O Plant Custodian. 03. Salesperson. 04. Plant security guard. 05. A line employee that produces parts for chairs using a saw and template. home builder would likely utilize: 14 Farrina Manufacturing uses a predetermined overhead application rate of $8 per direct labor hour. A review of...
The following information pertains to Trenton Glass Works for
the year just ended.
Budgeted direct-labor cost: 75,000 hours (practical capacity) at
$16 per hour
Actual direct-labor cost: 80,000 hours at $17.50 per hour
Budgeted manufacturing overhead: $997,500
Actual selling and administrative expenses: 437,000
Actual manufacturing overhead:
Depreciation
$
234,000
Property taxes
22,000
Indirect labor
82,000
Supervisory salaries
202,000
Utilities
58,000
Insurance
33,000
Rental of space
303,000
Indirect material (see data below)
80,000
Indirect material:
Beginning inventory, January 1
49,000
Purchases...
Required information [The following information applies to the questions displayed below.] he following information pertains to Trenton Glass Works for the year just ended Budgeted direct-labor cost: 70,000 hours (practical capacity) at $16 per hour Actual direct-labor cost: 80,000 hours at $17.50 per hour Budgeted manufacturing overhead: $997,500 Actual selling and administrative expenses: 438,000 Actual manufacturing overhead: Depreciation Property taxes Indirect labor Supervisory salaries Utilities Insurance Rental of space Indirect material (see data below) $231,000 21,000 80,000 201,000 59,000 31,000...
The following data pertain to the Oneida Restaurant Supply Company for the year just ended. Budgeted sales revenue Actual manufacturing overhead Budgeted machine hours (based on practical capacity) Budgeted direct-labor hours (based on practical capacity) Budgeted direct-labor rate Budgeted manufacturing overhead Actual machine hours Actual direct-labor hours Actual direct-labor rate $210,000 364,000 20,000 20,000 13 $338,000 11,000 18,000 $ 16 Required: Prepare a journal entry to add to work-in-process inventory the total manufacturing overhead cost for the year, assuming: 1....
The following data pertain to the Oneida Restaurant Supply Company for the year just ended. Budgeted sales revenue Actual manufacturing overhead Budgeted machine hours (based on practical capacity) Budgeted direct-labor hours (based on practical capacity) Budgeted direct-labor rate Budgeted manufacturing overhead Actual machine hours Actual direct-labor hours Actual direct-labor rate $ 210,000 364,000 20,000 20,000 $ 13 $338,000 11,000 18,000 $ 16 Required: Prepare a journal entry to add to work-in-process inventory the total manufacturing overhead cost for the year,...
The following information is available as of December 31, 2017 Click the icon to view the information) Donna Corporation manufactures custom cabinets for kitchens. It uses a normal costing system with two direct cost categories direct materials and direct manufacturing labor and one indirect-cost pool, manufacturing overhead costs. It provides the following information about manufacturing overhead costs for 2017 (Click the icon to view the manufacturing overhead cost information for 2017) Requirement Calculate the underallocated or overallocated manufacturing overhead at...
Direct Materials and Direct Labor Variances At the beginning of June, Kimber Toy Company budgeted 12,000 toy action figures to be manufactured in June at standard direct materials and direct labor costs as follows: Direct materials Direct labor $18,000 11,760 $29,760 Total The standard materials price is $0.60 per pound. The standard direct labor rate is $14.00 per hour. At the end of June, the actual direct materials and direct labor costs were as follows: Actual direct materials $16,400 Actual...
04. O period costs. direct material, direct labor, and manufacturing overhead. 9 Which of the following employees would not be classified as indirect labor? 01. O An employee that packs products for shipment. 02. O Plant Custodian. 03. Salesperson. 04. Plant security guard. 05. A line employee that produces parts for chairs using a saw and template. home builder would likely utilize: 14 Farrina Manufacturing uses a predetermined overhead application rate of $8 per direct labor hour. A review of...
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