Homework Answers
Solution:
Machine Hours = {[Overhead Cost + Overapplied Overhead] * Estimated Machine Hours } / Overhead Cost
= {[ $320,000 + $ 44,000] * 40,000} / $ 320,000
= $ 14,560,000,000 / $ 320,000
= 45,500 Hours.
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Melbourne Company estimated that machine hours for the year would be 40,000 hours and overhead (all...
Melbourne Company estimated that machine-hours for the year would be 39,500 hours and overhead (all fixed) would be $17...
Melbourne Company estimated that machine-hours for the year would be 39,500 hours and overhead (all fixed) would be $173,800. Melbourne applies its overhead on the basis of machine-hours. During the year, all overhead costs were exactly as planned ($173,800). There was $26,400 in overapplied overhead. 85 pints Required: How many machine-hours were worked during the period? (Do not round intermediate calculations.) Heu inediy machine-hour Machine hours eBook
Capitol, Inc., estimated that direct labor for the year would be 117.000 hours. Capitol's overhead (all...
Capitol, Inc., estimated that direct labor for the year would be 117.000 hours. Capitol's overhead (all fixed) is applied on the basis of direct labor-hours. The company estimates its overhead costs at $702,000. During the year, all overhead costs were exactly as planned ($702.000). There was $11.700 in underapplied overhead. Required: How many direct labor-hours were worked during the period? Direct labor hours
Capitol, Inc., estimated that direct labor for the year would be 44,300 hours. Capitol's overhead (all...
Capitol, Inc., estimated that direct labor for the year would be 44,300 hours. Capitol's overhead (all fixed) is applied on the basis of direct labor-hours. The company estimates its overhead costs at $181,630. During the year, all overhead costs were exactly as planned ($181,630). There was $18,450 in underapplied overhead. 2.85 Points Required: How many direct labor-hours were worked during the period? (Do not round intermediate calculations.) Direct labor hours eBook
Leaves Corporation applies manufacturing overhead based on machine hours. Budgeted overhead was $820,000 with an estimated...
Leaves Corporation applies manufacturing overhead based on machine hours. Budgeted overhead was $820,000 with an estimated 40,000 machine hours. Actual costs included production costs related to direct materials of $225,000, direct labor of $315,000, and manufacturing overhead of $850,000. The manufacturing overhead total does not include sales commissions of $28,500. In addition, 20 jobs were sold during the year at a total cost of $3,200,000. Customers purchased these goods for $3,750,000. Actual machine hours worked totaled 41,600. Required: A. Determine...
Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs...
Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $310,479 for the year, and machine usage is estimated at 125,700 hours. For the year, $361,123 of overhead costs are incurred and 130,900 hours are used. Compute the manufacturing overhead rate for the year. What is the amount of under- or overapplied overhead at December 31? Prepare the adjusting entry to assign the under- or overapplied overhead for the year...
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...
Strong Company applies overhead based on machine hours. At the beginning of 20x1, the company estimated...
Strong Company applies overhead based on machine hours. At the beginning of 20x1, the company estimated that manufacturing overhead would be $500,000, direct labour hours would total 50,000, and machine hours would total 20,000. By 20x1 year-end, actual overhead totaled $525,000, and actual machine hours were 25,000. On the basis of this information, the 20x1 predetermined overhead rate was: $10 per machine hour. $0.04 per machine hour. $25 per machine hour. $0.05 per machine hour. $20 per machine hour.
Strong Company applies overhead based on machine hours. At the beginning of 20x1, the company estimated...
Strong Company applies overhead based on machine hours. At the beginning of 20x1, the company estimated that manufacturing overhead would be $500,000, direct labour hours would total 50,000, and machine hours would total 20,000. By 20x1 year-end, actual overhead totaled $525,000, and actual machine hours were 25,000. On the basis of this information, the 20x1 predetermined overhead rate was: $10 per machine hour. $0.04 per machine hour. $25 per machine hour. $0.05 per machine hour. $20 per machine hour.
. Strong Company applies overhead based on machine hours. At the beginning of 20x1.the company estimated...
. Strong Company applies overhead based on machine hours. At the beginning of 20x1.the company estimated that manufacturing overhead would be $500,000, direct labour hours would total 50,000, and machine hours would total 20,000. By 20x1 year-end, actual overhead totaled $525,000, and actual machine hours were 25,000. On the basis of this information, the 20x1 predetermined overhead rate was: * (3 Points) $10 per machine hour. $25 per machine hour 50,04 per machine hour. 0 $20 per machine hour. $0.05...
Elwood Company applies overhead based on machine hours. At the beginning of the year, Elwood estimates...
Elwood Company applies overhead based on machine hours. At the beginning of the year, Elwood estimates overhead to be $760,000, machine hours to be 200,000, and direct labor hours to be 40,000. During February, Elwood has 3,750 direct labor hours and 16,000 machine hours. If the actual overhead for February is $58,300, what is the overhead variance, and is it overapplied or underapplied? a.$12,950 overapplied b.$2,500 overapplied c.$2,500 underapplied d.$600 overapplied e.$12,950 underapplied
Melbourne Company estimated that machine-hours for the year would be 39,500 hours and overhead (all fixed) would be $173,800. Melbourne applies its overhead on the basis of machine-hours. During the year, all overhead costs were exactly as planned ($173,800). There was $26,400 in overapplied overhead. 85 pints Required: How many machine-hours were worked during the period? (Do not round intermediate calculations.) Heu inediy machine-hour Machine hours eBook
Capitol, Inc., estimated that direct labor for the year would be 117.000 hours. Capitol's overhead (all fixed) is applied on the basis of direct labor-hours. The company estimates its overhead costs at $702,000. During the year, all overhead costs were exactly as planned ($702.000). There was $11.700 in underapplied overhead. Required: How many direct labor-hours were worked during the period? Direct labor hours
Capitol, Inc., estimated that direct labor for the year would be 44,300 hours. Capitol's overhead (all fixed) is applied on the basis of direct labor-hours. The company estimates its overhead costs at $181,630. During the year, all overhead costs were exactly as planned ($181,630). There was $18,450 in underapplied overhead. 2.85 Points Required: How many direct labor-hours were worked during the period? (Do not round intermediate calculations.) Direct labor hours eBook
Leaves Corporation applies manufacturing overhead based on machine hours. Budgeted overhead was $820,000 with an estimated 40,000 machine hours. Actual costs included production costs related to direct materials of $225,000, direct labor of $315,000, and manufacturing overhead of $850,000. The manufacturing overhead total does not include sales commissions of $28,500. In addition, 20 jobs were sold during the year at a total cost of $3,200,000. Customers purchased these goods for $3,750,000. Actual machine hours worked totaled 41,600. Required: A. Determine...
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...
. Strong Company applies overhead based on machine hours. At the beginning of 20x1.the company estimated that manufacturing overhead would be $500,000, direct labour hours would total 50,000, and machine hours would total 20,000. By 20x1 year-end, actual overhead totaled $525,000, and actual machine hours were 25,000. On the basis of this information, the 20x1 predetermined overhead rate was: * (3 Points) $10 per machine hour. $25 per machine hour 50,04 per machine hour. 0 $20 per machine hour. $0.05...
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