Homework Answers
1) Overhead rate
| Estimated overhead | / | Estimated labor cost | = | Overhead rate |
| 2491000 | / | 470000 | = | 530% of labor cost |
2&3) T account
| Factory overhead | |||
| Actual overhead | 2871400 | 2883200 | Applied overhead (544000*5.3) |
| 11800 | Balance | ||
Over applied overhead = 11800
4) Adjusting entry
| No | General journal | Debit | Credit |
| Manufacturing overhead | 11800 | ||
| Cost of goods sold | 11800 | ||
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Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 [The following information applies to...
Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 [The following information applies to...
Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 [The following information applies to the questions displayed below.] In December 2014, Infodeo established its predetermined overhead rate for movies produced during year 2015 by using the following cost predictions: overhead costs, $1,911,000, and direct labor costs, $490,000. At year-end 2015, the company's records show that actual overhead costs for the year are $1,701,400. Actual direct labor cost had been assigned to jobs as follows. Movies completed and released...
Exercise 15-14 Factory overhead computed, applied, and adjusted LO P3, P4 [The following information applies to...
Exercise 15-14 Factory overhead computed, applied, and adjusted LO P3, P4 [The following information applies to the questions displayed below.] In December 2014, Custom Mfg. established its predetermined overhead rate for jobs produced during year 2015 by using the following cost predictions: overhead costs, $230,000, and direct labor costs, $100,000. At year-end 2015, the company's records show that actual overhead costs for the year are $1,205,600. Actual direct labor cost had been assigned to jobs as follows. Jobs completed and...
Exercise 15-14 Factory overhead computed, applied, and adjusted LO P3, P4 [The following information applies to...
Exercise 15-14 Factory overhead computed, applied, and adjusted LO P3, P4 [The following information applies to the questions displayed below.] In December 2014, Custom Mfg. established its predetermined overhead rate for jobs produced during year 2015 by using the following cost predictions: overhead costs, $900,000, and direct labor costs, $500,000. At year-end 2015, the company's records show that actual overhead costs for the year are $894,500. Actual direct labor cost had been assigned to jobs as follows. Jobs completed and...
Exercise 15-16 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of the...
Exercise 15-16 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of the year, Infodeo established its predetermined overhead rate for movies produced during the year by using the following cost predictions: overhead costs, $1,935,000, and direct labor costs, $430,000. At year-end, the company's records show that actual overhead costs for the year are $1,074,500. Actual direct labor cost had been assigned to jobs as follows. Movies completed and released Movies still in production Total actual direct...
Exercise 15-16 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of the...
Exercise 15-16 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of the year, Infodeo established its predetermined overhead rate for movies produced during the year by using the following cost predictions: overhead costs, $1,540,000,and direct labor costs, $440,000. At year-end, the company's records show that actual overhead costs for the year are $2,225,200. Actual direct labor cost had been assigned to jobs as follows. Movies completed and released Movies still in production Total actual direct labor...
Exercise 15-16 Factory overhead computed, applied, and adjusted LO P3, P4 In December 2016, Infodeo established...
Exercise 15-16 Factory overhead computed, applied, and adjusted LO P3, P4 In December 2016, Infodeo established its predetermined overhead rate for movies produced during 2017 by using the following cost predictions: overhead costs, $2,142,000,and direct labor costs, $420,000. At year-end 2017, the company's records show that actual overhead costs for the year are $2,278,000. Actual direct labor cost had been assigned to jobs as follows. Movies completed and released Movies still in production $400,000 49,000 Total actual direct labor cost...
Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of the...
Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of the year, Custom Mfg. established its predetermined overhead rate by using the following cost predictions: overhead costs, $390,000, and direct materials costs, $300,000. At year-end, the company's records show that actual overhead costs for the year are $663,700. Actual direct materials cost had been assigned to jobs as follows. Jobs completed and sold Jobs in finished goods inventory Jobs in work in process inventory Total...
Help Save Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning...
Help Save Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of the year, Custom Mfg. established its predetermined overhead rate by using the following cost predictions overhead costs, $180,000, and direct materials costs, $100,000. At year-end, the company's records show that actual overhead costs for the year are $920,400. Actual direct materials cost had been assigned to jobs as follows. Jobs completed and sold Jobs in finished goods inventory Jobs in work in process...
12 Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of...
12 Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of the year Custom Maig established its predetermined overhead rate by using the following cost predictions overhead costs $900.000, and direct materials costs, $400,000. At year-end, the company's records show that actual overhead cost for the year are $124800. Actual direct materials cost had been assigned to jobs as follows. - ર completed and sold in work in process inventory Total sal dit materials coat...
Check my work Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 points In...
Check my work Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 points In December 2016, Custom Mfg. established its predetermined overhead rate for jobs produced during 2017 by using the following cost predictions: overhead costs, $700,000, and direct materials costs, $500,000. At year-end 2017, the company's records show that actual overhead costs for the year are $707,100. Actual direct material cost had been assigned to jobs as follows. eBook Hint Jobs completed and sold Jobs in finished...
Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 [The following information applies to the questions displayed below.] In December 2014, Infodeo established its predetermined overhead rate for movies produced during year 2015 by using the following cost predictions: overhead costs, $1,911,000, and direct labor costs, $490,000. At year-end 2015, the company's records show that actual overhead costs for the year are $1,701,400. Actual direct labor cost had been assigned to jobs as follows. Movies completed and released...
Exercise 15-14 Factory overhead computed, applied, and adjusted LO P3, P4 [The following information applies to the questions displayed below.] In December 2014, Custom Mfg. established its predetermined overhead rate for jobs produced during year 2015 by using the following cost predictions: overhead costs, $230,000, and direct labor costs, $100,000. At year-end 2015, the company's records show that actual overhead costs for the year are $1,205,600. Actual direct labor cost had been assigned to jobs as follows. Jobs completed and...
Exercise 15-14 Factory overhead computed, applied, and adjusted LO P3, P4 [The following information applies to the questions displayed below.] In December 2014, Custom Mfg. established its predetermined overhead rate for jobs produced during year 2015 by using the following cost predictions: overhead costs, $900,000, and direct labor costs, $500,000. At year-end 2015, the company's records show that actual overhead costs for the year are $894,500. Actual direct labor cost had been assigned to jobs as follows. Jobs completed and...
Exercise 15-16 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of the year, Infodeo established its predetermined overhead rate for movies produced during the year by using the following cost predictions: overhead costs, $1,935,000, and direct labor costs, $430,000. At year-end, the company's records show that actual overhead costs for the year are $1,074,500. Actual direct labor cost had been assigned to jobs as follows. Movies completed and released Movies still in production Total actual direct...
Exercise 15-16 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of the year, Infodeo established its predetermined overhead rate for movies produced during the year by using the following cost predictions: overhead costs, $1,540,000,and direct labor costs, $440,000. At year-end, the company's records show that actual overhead costs for the year are $2,225,200. Actual direct labor cost had been assigned to jobs as follows. Movies completed and released Movies still in production Total actual direct labor...
Exercise 15-16 Factory overhead computed, applied, and adjusted LO P3, P4 In December 2016, Infodeo established its predetermined overhead rate for movies produced during 2017 by using the following cost predictions: overhead costs, $2,142,000,and direct labor costs, $420,000. At year-end 2017, the company's records show that actual overhead costs for the year are $2,278,000. Actual direct labor cost had been assigned to jobs as follows. Movies completed and released Movies still in production $400,000 49,000 Total actual direct labor cost...
Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of the year, Custom Mfg. established its predetermined overhead rate by using the following cost predictions: overhead costs, $390,000, and direct materials costs, $300,000. At year-end, the company's records show that actual overhead costs for the year are $663,700. Actual direct materials cost had been assigned to jobs as follows. Jobs completed and sold Jobs in finished goods inventory Jobs in work in process inventory Total...
Help Save Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of the year, Custom Mfg. established its predetermined overhead rate by using the following cost predictions overhead costs, $180,000, and direct materials costs, $100,000. At year-end, the company's records show that actual overhead costs for the year are $920,400. Actual direct materials cost had been assigned to jobs as follows. Jobs completed and sold Jobs in finished goods inventory Jobs in work in process...
12 Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of the year Custom Maig established its predetermined overhead rate by using the following cost predictions overhead costs $900.000, and direct materials costs, $400,000. At year-end, the company's records show that actual overhead cost for the year are $124800. Actual direct materials cost had been assigned to jobs as follows. - ર completed and sold in work in process inventory Total sal dit materials coat...
Check my work Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 points In December 2016, Custom Mfg. established its predetermined overhead rate for jobs produced during 2017 by using the following cost predictions: overhead costs, $700,000, and direct materials costs, $500,000. At year-end 2017, the company's records show that actual overhead costs for the year are $707,100. Actual direct material cost had been assigned to jobs as follows. eBook Hint Jobs completed and sold Jobs in finished...
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