Homework Answers
Answer:
Predetermined Overhead Rate = Estimated Manufacturing Overhead /
Estimated Machine Hours
Predetermined Overhead Rate = $366,500 / 41,000
Predetermined Overhead Rate = $8.94 per machine
hours
Manufacturing Overhead Applied = Predetermined Overhead Rate *
Actual Machine Hours
Manufacturing Overhead Applied = $8.94 * 40,500
Manufacturing Overhead Applied = $362,070
Overapplied Manufacturing Overhead = Manufacturing Overhead
Applied - Actual Manufacturing Overhead
Overapplied Manufacturing Overhead = $362,070 - $354,400
Overapplied Manufacturing Overhead = $7,670
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Logan Products computes its predetermined overhead rate annually on the basis of machine- hours. At the...
Exercise 5-3 Compute the Predetermined Overhead Rate (LO3] Logan Products computes its predetermined overhead rate annually...
Exercise 5-3 Compute the Predetermined Overhead Rate (LO3] Logan Products computes its predetermined overhead rate annually on the basis of machine hours. At the beginning of the year, it estimated that its total manufacturing overhead would be $361,500 and machines would be run a total of 26,500 hours. Its actual total manufacturing overhead for the year was $349,400 and its actual total machine-hours was 26,000 hours. Required: Compute the company's predetermined overhead rate for the year, calculate the total overhead...
Logan Products computes its predetermined overhead rate annually on the basis of direct labor-hours. At the...
Logan Products computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 36.000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $536,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Logan's actual manufacturing overhead for the year was $714.994 and its actual total direct labor was 36,500 hours. Required: Compute the...
Logan Products computes its predetermined overhead rate annually on the basis of direct labor-hours. At the...
Logan Products computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 33,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $515,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Logan's actual manufacturing overhead for the year was $675,228 and its actual total direct labor was 33,500 hours. Required: Compute the...
Metal Works, Inc. computes its predetermined overhead rate annually on the basis of machine hours. At...
Metal Works, Inc. computes its predetermined overhead rate annually on the basis of machine hours. At the beginning of the year it estimated that its total manufacturing overhead would be $153,360 and the total machine hours would be 21,600. Its actual manufacturing overhead for the year was $153,127.62 and its actual machine hours was 21,823 hours. a. What is the company's Pre-determined Overhead Rate? b. What amount of Overhead would be applied to the units of of product during the...
Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At...
Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 41,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $556,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $793,105 and its actual total direct labor was 41,500 hours. Required:...
arris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At...
arris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 41,000 direct labor-hours would be required for the period’s estimated level of production. The company also estimated $534,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Harris’s actual manufacturing overhead cost for the year was $727,262 and its actual total direct labor was 41,500 hours. Required:...
Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At...
Harris Fabrics computes its plantwide predetermined overhead
rate annually on the basis of direct labor-hours. At the beginning
of the year, it estimated that 34,000 direct labor-hours would be
required for the period’s estimated level of production. The
company also estimated $505,000 of fixed manufacturing overhead
cost for the coming period and variable manufacturing overhead of
$2.00 per direct labor-hour. Harris’s actual manufacturing overhead
cost for the year was $638,351 and its actual total direct labor
was 34,500 hours.
Exercise...
Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. At the...
Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 26,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $557,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $4.00 per direct labor-hour. Harris's actual manufacturing overhead for the year was $718,762 and its actual total direct labor was 26,500 hours Required: Compute the...
Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. At the...
Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 34,000 direct labor-hours would be required for the period’s estimated level of production. The company also estimated $599,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Harris's actual manufacturing overhead for the year was $768,234 and its actual total direct labor was 34,500 hours. Required: Compute the...
Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At...
Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 44,000 direct labor-hours would be required for the period’s estimated level of production. The company also estimated $590,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Harris’s actual manufacturing overhead cost for the year was $803,630 and its actual total direct labor was 44,500 hours. Compute...
Exercise 5-3 Compute the Predetermined Overhead Rate (LO3] Logan Products computes its predetermined overhead rate annually on the basis of machine hours. At the beginning of the year, it estimated that its total manufacturing overhead would be $361,500 and machines would be run a total of 26,500 hours. Its actual total manufacturing overhead for the year was $349,400 and its actual total machine-hours was 26,000 hours. Required: Compute the company's predetermined overhead rate for the year, calculate the total overhead...
Logan Products computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 36.000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $536,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Logan's actual manufacturing overhead for the year was $714.994 and its actual total direct labor was 36,500 hours. Required: Compute the...
Logan Products computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 33,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $515,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Logan's actual manufacturing overhead for the year was $675,228 and its actual total direct labor was 33,500 hours. Required: Compute the...
Metal Works, Inc. computes its predetermined overhead rate annually on the basis of machine hours. At the beginning of the year it estimated that its total manufacturing overhead would be $153,360 and the total machine hours would be 21,600. Its actual manufacturing overhead for the year was $153,127.62 and its actual machine hours was 21,823 hours. a. What is the company's Pre-determined Overhead Rate? b. What amount of Overhead would be applied to the units of of product during the...
Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 41,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $556,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $793,105 and its actual total direct labor was 41,500 hours. Required:...
Harris Fabrics computes its plantwide predetermined overhead
rate annually on the basis of direct labor-hours. At the beginning
of the year, it estimated that 34,000 direct labor-hours would be
required for the period’s estimated level of production. The
company also estimated $505,000 of fixed manufacturing overhead
cost for the coming period and variable manufacturing overhead of
$2.00 per direct labor-hour. Harris’s actual manufacturing overhead
cost for the year was $638,351 and its actual total direct labor
was 34,500 hours.
Exercise...
Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 26,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $557,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $4.00 per direct labor-hour. Harris's actual manufacturing overhead for the year was $718,762 and its actual total direct labor was 26,500 hours Required: Compute the...
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