Homework Answers
5. Raw Material Used = Beginning Inventory + Purchases - Ending
Inventory
= $350000+150000-400000 = $100000
6. Prime Costs = Direct Material used + Direct labor
= ($100000-25000)+700000 = $775000
7. Predetermined Manufacturing overhead rate = $540000/360000 = $1.50 per labor hour
8. Manufacturing Overhead applied = 400000 x $1.5 = $600000
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At Allen Company, manufacturing overhead is applied based...
Please answer the question which are CIRCLED IN RED！！ Thanks a lot At Allen Company, manufacturing...
Please answer the question which are CIRCLED IN RED！！ Thanks a
lot
At Allen Company, manufacturing overhead is applied at the rate of 160% of direct labor hours. Overhead was estimated to be $540,000 and direct labor hours were estimated to be 360,000. Actual direct labor hours and actual direct labor costs for the year amounted to 400,000 hours and $700,000. In addition, Allen Company incurred the following actual costs during the year: • Administrative expenses, $100,000 • Depreciation expense...
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Please provide details on how to answer this problem Aspen Company estimates its manufacturing overhead to...
Please provide details on how to answer this
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Aspen Company estimates its manufacturing overhead to be $625,000 and its direct labor costs to be $500,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $195,000. Job 2-2. which was completed, but not sold at the end of the year, had actual direct labor costs of $325,000. Job 2-3, which is still in work-in-process...
Please help with the following problem. Yarra Fabrication estimates that its manufacturing overhead will be $2,348,800...
Please help with the following problem.
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Please explain in detail including the math Yarra Fabrication estimates that its manufacturing overhead will be...
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Please answer the question which are CIRCLED IN RED！！ Thanks a
lot
At Allen Company, manufacturing overhead is applied at the rate of 160% of direct labor hours. Overhead was estimated to be $540,000 and direct labor hours were estimated to be 360,000. Actual direct labor hours and actual direct labor costs for the year amounted to 400,000 hours and $700,000. In addition, Allen Company incurred the following actual costs during the year: • Administrative expenses, $100,000 • Depreciation expense...
Aspen Company estimates its manufacturing overhead to be $625,000 and its direct labor costs to be $500,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $195,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $325,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $130,000. Actual...
Southern Rim Parts estimates its manufacturing overhead to be
$436,000 and its direct labor costs to be $1,090,000 for year 1.
The first three jobs that Southern Rim worked on had actual direct
labor costs of $68,000 for Job 301, $93,000 for Job 302, and
$190,000 for Job 303. For the year, actual manufacturing overhead
was $384,000 and total direct labor cost was $831,000.
Manufacturing overhead is applied to jobs on the basis of direct
labor costs using predetermined rates....
Applied vs. Actual Manufacturing Overhead Sloan Manufacturing Corporation applies manufacturing overhead on the basis of 120% of direct labor cost. An analysis of the related accounts and job order cost sheet indicates that during the year total manufacturing overhead incurred was $525,000 and that at year-end Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold included $75,000, $50,000, and $375,000, respectively, of direct labor incurred during the current year a. Determine the over-applied manufacturing overhead at year-end...
Please provide details on how to answer this
problem
Aspen Company estimates its manufacturing overhead to be $625,000 and its direct labor costs to be $500,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $195,000. Job 2-2. which was completed, but not sold at the end of the year, had actual direct labor costs of $325,000. Job 2-3, which is still in work-in-process...
Please help with the following problem.
Yarra Fabrication estimates that its manufacturing overhead will be $2,348,800 in year 1. It further estimates that direct material costs will amount to $1,468,000. Actual manufacturing overhead costs for the year were $2,485,000. Actual direct materials costs were $1,635.000. Manufacturing overhead is applied to jobs based direct materials cost using predetermined rates. Overhead applied in each of the inventory accounts is as follows. Work-in-process inventory Finished goods inventory Cost of goods sold $ 497,750...
Please explain in detail
including the math
Yarra Fabrication estimates that its manufacturing overhead will be $2,240,000 in year 1. It further estimates that direct material costs will amount to $1,400,000. Actual manufacturing overhead costs for the year were $2,400,000. Actual direct materials costs were $1,550,000. Manufacturing overhead is applied to jobs based direct materials cost using predetermined rates. Overhead applied in each of the inventory accounts is as follows. Work-in-process inventory Finished goods inventory Cost of goods sold $...
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $198,970. Estimated direct labor cost was $474,770 for 19,700 hours. Actual costs for the most recent month are summarized here: Total Cost $ 47, 478 Item Description Direct labor (1,970 hours) Indirect costs Indirect labor Indirect materials Factory rent Factory supervision Factory depreciation Factory janitorial...
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