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Please solve for the incorrect answers!
Exercise 5.24 Buffalo Auto Shop uses a normal job-costing system to allocate overhead on the basis of labour hours. For the current year, Buffalo estimated that the total overhead costs would be $77,700 and that the total labour hours would be 2,590. At the end of the year, Buffalo obtained the actual overhead costs from the ledger and found that the shop had incurred $71,204 and had worked 2,543 labour hours. Your answer is...
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Cheyenne Auto Shop uses a normal job-costing system to allocate overhead on the basis of labour hours. For the current year, Cheyenne estimated that the total overhead costs would be $79,680 and that the total labour hours would be 2,490. At the end of the year, Cheyenne obtained the actual overhead costs from the ledger and found that the shop had incurred $73,170 and had worked 2,439 labour hours. nd that the total labour hours would be 2,490. At the...
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Lott Company uses a job order cost system and applies overhead
to production on the basis of direct labor costs. On January 1,
2020, Job 50 was the only job in process. The costs incurred prior
to January 1 on this job were as follows: direct materials $21,800,
direct labor $13,080, and manufacturing overhead $17,440. As of
January 1, Job 49 had been completed at a cost of $98,100 and was
part of finished goods inventory. There was a $16,350...
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Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. The company predetermined overhead rate of $2.40 per machine-hour was based on a cost formula that estimates $201.600 of total manufacturing overhead for an estimated activity level of 84,000 machine-hours. Required: 1. Assume that during the year the company works only 79,000 machine-hours and incurs the following costs in the Manufacturing Overhead and Work in Process accounts: Compute the amount of overhead...
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Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. The company's predetermined overhead rate of $2.80 per machine-hour was based on a cost formula that estimates $232,400 of total manufacturing overhead for an estimated activity level of 83,000 machine-hours. Required: 1. Assume that during the year the company works only 78,000 machine-hours and incurs the following costs in the Manufacturing Overhead and Work in Process accounts: Compute the amount of overhead...
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Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2017, Job No. 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $23,200, direct labor $13,920, and manufacturing overhead S18,560. As of January 1, Job No. 49 had been completed at a cost of S104,400 and was part of finished goods inventory. There was...
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Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of machine hours. The company's predetermined overhead rate of $2.60 per machine-hour was based on a cost formula that estimates $260,000 of total manufacturing overhead for an estimated activity level of 100,000 machine-hours. Required: 1. Assume that during the year the company works only 95,000 machine-hours and incurs the following costs in the Manufacturing Overhead and Work in Process accounts: Compute the amount of...
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Harwood Company uses a job-order costing system that applies
overhead cost to jobs on the basis of machine-hours. The company's
predetermined overhead rate of $2.60 per machine-hour was based on
a cost formula that estimates $260,000 of total manufacturing
overhead for an estimated activity level of 100,000
machine-hours.
Required:
1. Assume that during the year the company works only 95,000
machine-hours and incurs the following costs in the Manufacturing
Overhead and Work in Process accounts: Compute the amount of
overhead...
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Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. The company's predetermined overhead rate of $2.30 per machine-hour was based on a cost formula that estimates $225,400 of total manufacturing overhead for an estimated activity level of 98,000 machine-hours. Required: 1. Assume that during the year the company works only 93,000 machine-hours and incurs the following costs in the Manufacturing Overhead and Work in Process accounts: Compute the amount of overhead...
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Harwood Company uses a job-order costing system that applies
overhead cost to jobs on the basis of machine-hours. The company's
predetermined overhead rate of $2.80 per machine-hour was based on
a cost formula that estimates $249,200 of total manufacturing
overhead for an estimated activity level of 89,000
machine-hours.
Required:
1. Assume that during the year the company works only 84,000
machine-hours and incurs the following costs in the Manufacturing
Overhead and Work in Process accounts: Compute the amount of
overhead...
Please solve for the incorrect answers!
Exercise 5.24 Buffalo Auto Shop uses a normal job-costing system to allocate overhead on the basis of labour hours. For the current year, Buffalo estimated that the total overhead costs would be $77,700 and that the total labour hours would be 2,590. At the end of the year, Buffalo obtained the actual overhead costs from the ledger and found that the shop had incurred $71,204 and had worked 2,543 labour hours. Your answer is...
Cheyenne Auto Shop uses a normal job-costing system to allocate overhead on the basis of labour hours. For the current year, Cheyenne estimated that the total overhead costs would be $79,680 and that the total labour hours would be 2,490. At the end of the year, Cheyenne obtained the actual overhead costs from the ledger and found that the shop had incurred $73,170 and had worked 2,439 labour hours. nd that the total labour hours would be 2,490. At the...
Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. The company predetermined overhead rate of $2.40 per machine-hour was based on a cost formula that estimates $201.600 of total manufacturing overhead for an estimated activity level of 84,000 machine-hours. Required: 1. Assume that during the year the company works only 79,000 machine-hours and incurs the following costs in the Manufacturing Overhead and Work in Process accounts: Compute the amount of overhead...
Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. The company's predetermined overhead rate of $2.80 per machine-hour was based on a cost formula that estimates $232,400 of total manufacturing overhead for an estimated activity level of 83,000 machine-hours. Required: 1. Assume that during the year the company works only 78,000 machine-hours and incurs the following costs in the Manufacturing Overhead and Work in Process accounts: Compute the amount of overhead...
Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2017, Job No. 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $23,200, direct labor $13,920, and manufacturing overhead S18,560. As of January 1, Job No. 49 had been completed at a cost of S104,400 and was part of finished goods inventory. There was...
Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of machine hours. The company's predetermined overhead rate of $2.60 per machine-hour was based on a cost formula that estimates $260,000 of total manufacturing overhead for an estimated activity level of 100,000 machine-hours. Required: 1. Assume that during the year the company works only 95,000 machine-hours and incurs the following costs in the Manufacturing Overhead and Work in Process accounts: Compute the amount of...
Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. The company's predetermined overhead rate of $2.30 per machine-hour was based on a cost formula that estimates $225,400 of total manufacturing overhead for an estimated activity level of 98,000 machine-hours. Required: 1. Assume that during the year the company works only 93,000 machine-hours and incurs the following costs in the Manufacturing Overhead and Work in Process accounts: Compute the amount of overhead...
Harwood Company uses a job-order costing system that applies
overhead cost to jobs on the basis of machine-hours. The company's
predetermined overhead rate of $2.80 per machine-hour was based on
a cost formula that estimates $249,200 of total manufacturing
overhead for an estimated activity level of 89,000
machine-hours.
Required:
1. Assume that during the year the company works only 84,000
machine-hours and incurs the following costs in the Manufacturing
Overhead and Work in Process accounts: Compute the amount of
overhead...