Homework Answers
Answer :
(A) Estimated manufacturing overhead.
Explanation
POHR or predetermined overhead rate is calculated at the beginning of accounting period by dividing the estimated manufacturing overhead by the estimated activity base.
(B) Applied manufacturing overhead and Actual manufacturing overhead
Explanation
The over or under applied manufacturing overhead is the difference between manufacturing overhead cost applied to WIP and Actual manufacturing overhead cost incurred during a period.
(C) Applied manufacturing overhead
Explanation
Journal entry for applied manufacturing overhead
| Date | Account name | Debit | Credit |
| WIP | xx | ||
| Manufacturing overhead | xx |
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Please help.
There are three Manufacturing Overhead amounts that you have to deal with: 1) Estimated...
help me do the journal entry Given Data for Lab 2 This company applies manufacturing overhead...
help me do the journal entry
Given Data for Lab 2 This company applies manufacturing overhead on the basis of machine-hours. Below is information for the most recently completed year of operations. Bellingham Manufacturing, Inc. Estimated total manufacturing overhead cost Estimated total amount of allocation base $ 510,000 75,000 machine-hours Actual total manufacturing overhead cost Actual total machine-hours $ 468,000 72,000 Bellingham Manufacturing, Inc. Manufacturing Overhead Report For the year ended Dec. 31, 2019 Computation of Predetermined Overhead Rate (POHR):...
HOW WOULD I RESPOND TO THESE? - The predetermined overhead rate is based on the relationship...
HOW WOULD I RESPOND TO THESE? - The predetermined overhead rate is based on the relationship between estimated annual overhead costs and estimated annual operating activity, expressed in terms of a common activity base. The company may state the activity in terms of direct labor costs, direct labor hours, machine hours, or any other measure that provides an equitable basis for applying overhead costs to jobs. Companies establish the predetermined overhead rate at the beginning of the year. The formula...
For ABC Company, the manufacturing overhead was estimated to be $200.000 for the year along with...
For ABC Company, the manufacturing overhead was estimated to be $200.000 for the year along with 20,000 direct labor hours. Actual manufacturing overhead was $215.000, and actual labor hours were 21.000. The predetermined overhead rate is 5 per direct labor hours. The applied manufacturing overhead is $ Is the overhead overapplied or underapplied? By how much? It is (fill in overapplied or underapplied) by 5
Data Allocation base Machine-hours Estimated manufacturing overhead cost $300,000 Estimated total amount of the allocation base...
Data Allocation base Machine-hours Estimated manufacturing overhead cost $300,000 Estimated total amount of the allocation base 75,000 machine-hours Actual manufacturing overhead cost $290,000 Actual total amount of the allocation base 68,000 machine-hours Computation of the predetermined overhead rate Estimated manufacturing overhead cost ? Estimated total amount of the allocation base ? machine-hours Predetermined overhead rate ? per machine-hour Computation of underapplied or overapplied manufacturing overhead Actual manufacturing overhead cost ? Manufacturing overhead cost applied to Work in Process during the...
skip 23,24,26 22. Hen Hao Professor Mullen, Inc applies overhead on the basis of machine hours....
skip 23,24,26
22. Hen Hao Professor Mullen, Inc applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under-or overapplication of overhead for the period: Estimated SS annual overhead cost $1,200,000 Actual SS annual overhead cost $1,155,000 Estimated machine hours 400,000 Actual machine hours 380,000 A) $1,140,000 applied and $15,000 overapplied B) $1,200,000 applied and $15,000 overapplied C) $1,140,000 applied and $15,000 underapplied D) $1,145,000 applied and neither under- nor overapplied 23. If...
Chapter 3: Applying Excel Data Allocation base Machine-hours Estimated manufacturing overhead cost $300,000 Estimated total amount...
Chapter 3: Applying Excel Data Allocation base Machine-hours Estimated manufacturing overhead cost $300,000 Estimated total amount of the allocation base 60,000 machine-hours Actual manufacturing overhead cost $290,000 Actual total amount of the allocation base 68,000 machine-hours Enter a formula into each of the cells marked with a ? below Computation of the predetermined overhead rate Estimated manufacturing overhead cost ? Estimated total amount of the allocation base ? machine-hours Predetermined overhead rate ? per machine-hour Computation of underapplied or overapplied...
21. Hen Hao Lao Shi Mullen, Inc developed the following data: Beginning work in process inventory...
21. Hen Hao Lao Shi Mullen, Inc developed the following data: Beginning work in process inventory (WIP) Direct materials used (DM) Actual overhead (OH) Overhead applied (est OH) Cost of goods manufactured (CGM) Ending work in process (WIP) Hen Hao Lao Shi Mullen, Inc's total manufacturing costs (TMC) for the period is A) $570,000. B) $540,000. C) $390,000. D) cannot be determined from the data provided. Page 5 $270,000 210,000 330,000 240,000 360,000 450,000 22. Hen Hao Professor Mullen, Inc...
Mgr. Acct 2123 - Chapter 3 HW (Summer 2020) 5) If manufacturing overhead is underapplied, then:...
Mgr. Acct 2123 - Chapter 3 HW (Summer 2020) 5) If manufacturing overhead is underapplied, then: A) actual manufacturing overhead cost is less than estimated manufacturing overhead cost B) the amount of manufacturing overhead cost applied to Work in Process is less than the actual manufacturing overhead cost incurred. C) the predetermined overhead rate is too high D) the Manufacturing Overhead account will have a credit balance at the end of the year. 6) Gullett Corporation had $26,000 of raw...
Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour 2,500...
Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour 2,500 $10,000 $ 1.40 1,500 $15,000 $ 2.20 4,000 $25,000 Job P $13,000 $21,080 Job $8,000 $7,500 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 1,700 600 2,380 800 900 1,700 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the...
Knowledge Check 02 Stoneside Inc. has provided you with the following information for its Manufacturing Overhead...
Knowledge Check 02 Stoneside Inc. has provided you with the following information for its Manufacturing Overhead account at the end of the period. Actual manufacturing overhead costs incurred total $31,910. The company applied manufacturing overhead cost in the amount of $28,900. What is the overapplied or underapplied manufacturing overhead? Multiple Choice $3,010 Underapplied o $3,010 Overapplied o $5,990 Underapplied o o $5,990 Overapplied
help me do the journal entry
Given Data for Lab 2 This company applies manufacturing overhead on the basis of machine-hours. Below is information for the most recently completed year of operations. Bellingham Manufacturing, Inc. Estimated total manufacturing overhead cost Estimated total amount of allocation base $ 510,000 75,000 machine-hours Actual total manufacturing overhead cost Actual total machine-hours $ 468,000 72,000 Bellingham Manufacturing, Inc. Manufacturing Overhead Report For the year ended Dec. 31, 2019 Computation of Predetermined Overhead Rate (POHR):...
For ABC Company, the manufacturing overhead was estimated to be $200.000 for the year along with 20,000 direct labor hours. Actual manufacturing overhead was $215.000, and actual labor hours were 21.000. The predetermined overhead rate is 5 per direct labor hours. The applied manufacturing overhead is $ Is the overhead overapplied or underapplied? By how much? It is (fill in overapplied or underapplied) by 5
skip 23,24,26
22. Hen Hao Professor Mullen, Inc applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under-or overapplication of overhead for the period: Estimated SS annual overhead cost $1,200,000 Actual SS annual overhead cost $1,155,000 Estimated machine hours 400,000 Actual machine hours 380,000 A) $1,140,000 applied and $15,000 overapplied B) $1,200,000 applied and $15,000 overapplied C) $1,140,000 applied and $15,000 underapplied D) $1,145,000 applied and neither under- nor overapplied 23. If...
Mgr. Acct 2123 - Chapter 3 HW (Summer 2020) 5) If manufacturing overhead is underapplied, then: A) actual manufacturing overhead cost is less than estimated manufacturing overhead cost B) the amount of manufacturing overhead cost applied to Work in Process is less than the actual manufacturing overhead cost incurred. C) the predetermined overhead rate is too high D) the Manufacturing Overhead account will have a credit balance at the end of the year. 6) Gullett Corporation had $26,000 of raw...
Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour 2,500 $10,000 $ 1.40 1,500 $15,000 $ 2.20 4,000 $25,000 Job P $13,000 $21,080 Job $8,000 $7,500 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 1,700 600 2,380 800 900 1,700 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the...
Knowledge Check 02 Stoneside Inc. has provided you with the following information for its Manufacturing Overhead account at the end of the period. Actual manufacturing overhead costs incurred total $31,910. The company applied manufacturing overhead cost in the amount of $28,900. What is the overapplied or underapplied manufacturing overhead? Multiple Choice $3,010 Underapplied o $3,010 Overapplied o $5,990 Underapplied o o $5,990 Overapplied
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