Homework Answers
Predetermined overhead rate is used to apply manufacturing overhead to products or job orders and is usually computed at the beginning of each period by dividing the estimated manufacturing overhead cost by an allocation base (also known as activity base or activity driver). predetermined overhead rate will mainly deals with the overhead calculations the direct costs such as a direct material and direct labour will not be mainly affected by the predetermined overhead rate therefore the calculation of predetermined rate for direct material and direct labour is not involved in many aspects
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Why is a predetermined rate not calculated for direct material and labor?
VES Conrad Company calculated a predetermined manufacturing overhead rate of $20 per direct labor hour. During...
VES Conrad Company calculated a predetermined manufacturing overhead rate of $20 per direct labor hour. During the year, Conrad actually incurred 290,000 in total manufacturing overhead and used 10,000 direct labor hours. Determine the amount of over or under allocated overhead for the year. (Hint: You must first calculate the amount of allocated overhead during the year.) If UNDERALLOCATED, enter your answer as a negative (example: -34,000) Do not use $ in your answer.
Sheffield’s Manufacturing calculated its predetermined overhead rate to be 200% of direct materials costs. For the...
Sheffield’s Manufacturing calculated its predetermined overhead
rate to be 200% of direct materials costs. For the month of July,
the company incurred $119100 of raw material costs, of which $90500
were direct materials, and $30000 were indirect materials. Actual
overhead incurred was $175400. What would be the debit entry to the
Work in Process Inventory account for July with respect to
manufacturing overhead?
$175400
$181000
$238200
$zero, the account should be credited
Sheffield’s Manufacturing calculated its predetermined overhead rate to be 200% of direct materials costs. For the...
Sheffield’s Manufacturing calculated its predetermined overhead
rate to be 200% of direct materials costs. For the month of July,
the company incurred $119100 of raw material costs, of which $90500
were direct materials, and $30000 were indirect materials. Actual
overhead incurred was $175400. What would be the debit entry to the
Work in Process Inventory account for July with respect to
manufacturing overhead?
$175400
$181000
$238200
$zero, the account should be credited
Mackinaw Manufacturing Corporation uses a predetermined overhead rate based on direct labor hours to apply manufacturing...
Mackinaw Manufacturing Corporation uses a predetermined overhead rate based on direct labor hours to apply manufacturing overhead to jobs. Last year, the Corporation worked 17,500 actual direct labor-hours and incurred $148.300 of actual manufacturing overhead cost. They had estimated at the beginning of the year that 16,300 direct labor hours would be worked and S146700 of manufacturing overhead costs incurred. The Corporation had calculated a predetermined overhead rate of $9 per direct labor-hour. The Corporation's manufacturing overhead for the year...
Luthan Company uses a predetermined overhead rate of $23.80 per direct labor-hour. This predetermined rate was...
Luthan Company uses a predetermined overhead rate of $23.80 per direct labor-hour. This predetermined rate was based on a cost formula that estimated $285,600 of total manufacturing overhead for an estimated activity level of 12,000 direct labor-hours. The company incurred actual total manufacturing overhead costs of $266,000 and 12,500 total direct labor-hours during the period. Required: Determine the amount of manufacturing overhead that would have been applied to all jobs during the period. Manufacturing overhead applied
Westan Corporation uses a predetermined overhead rate of $23.70 per direct labor-hour. This predetermined rate was...
Westan Corporation uses a predetermined overhead rate of $23.70 per direct labor-hour. This predetermined rate was based on a cost formula that estimated $284,400 of total manufacturing overhead for an estimated activity level of 12,000 direct labor-hours. The company incurred actual total manufacturing overhead costs of $266,000 and 10,400 total direct labor-hours during the period. Required: Determine the amount of manufacturing overhead that would have been applied to all jobs during the period. Manufacturing overhead applied
Westan Corporation uses a predetermined overhead rate of $23.30 per direct labor-hour. This predetermined rate was...
Westan Corporation uses a predetermined overhead rate of $23.30 per direct labor-hour. This predetermined rate was based on a cost formula that estimated $279,600 of total manufacturing overhead for an estimated activity level of 12,000 direct labor-hours. The company incurred actual total manufacturing overhead costs of $269,000 and 10,800 total direct labor-hours during the period. Required: Determine the amount of manufacturing overhead that would have been applied to all jobs during the period. Manufacturing overhead applied
Techniques, Inc. uses a predetermined manufacturing overhead rate based on direct labor hours to apply its...
Techniques, Inc. uses a predetermined manufacturing overhead rate based on direct labor hours to apply its indirect product costs to jobs. The following information has been collected for the previous year: dir material 150K, dir labor 200K, indirect labor 50K sales commission 25K, depreciation on factory 75K utilites - factory 125K, rent on office bldg 25K guards at office building 25K depreciation on office bldg. 30K Techniques used 25,000 direct labor hours and 50,000 machine hours during the previous year....
Osborn Manufacturing uses a predetermined overhead rate of $19.20 per direct labor-hour. This predetermined rate was...
Osborn Manufacturing uses a predetermined overhead rate of
$19.20 per direct labor-hour. This predetermined rate was based on
a cost formula that estimates $249,600 of total manufacturing
overhead for an estimated activity level of 13,000 direct
labor-hours. The company actually incurred $247,000 of
manufacturing overhead and 12,500 direct labor-hours during the
period. Required: 1. Determine the amount of underapplied or
overapplied manufacturing overhead for the period. 2. Assume that
the company's underapplied or overapplied overhead is closed to
Cost of...
Luthan Company uses a plantwide predetermined overhead rate of $23.20 per direct labor-hour. This predetermined rate...
Luthan Company uses a plantwide predetermined overhead rate of $23.20 per direct labor-hour. This predetermined rate was based on a cost formula that estimated $278,400 of total manufacturing overhead cost for an estimated activity level of 12,000 direct labor- hours. The company incurred actual total manufacturing overhead cost of $266,000 and 12,300 total direct labor-hours during the period. Required: Determine the amount of manufacturing overhead cost that would have been applied to all jobs during the period. Manufacturing overhead applied...
VES Conrad Company calculated a predetermined manufacturing overhead rate of $20 per direct labor hour. During the year, Conrad actually incurred 290,000 in total manufacturing overhead and used 10,000 direct labor hours. Determine the amount of over or under allocated overhead for the year. (Hint: You must first calculate the amount of allocated overhead during the year.) If UNDERALLOCATED, enter your answer as a negative (example: -34,000) Do not use $ in your answer.
Sheffield’s Manufacturing calculated its predetermined overhead
rate to be 200% of direct materials costs. For the month of July,
the company incurred $119100 of raw material costs, of which $90500
were direct materials, and $30000 were indirect materials. Actual
overhead incurred was $175400. What would be the debit entry to the
Work in Process Inventory account for July with respect to
manufacturing overhead?
$175400
$181000
$238200
$zero, the account should be credited
Sheffield’s Manufacturing calculated its predetermined overhead
rate to be 200% of direct materials costs. For the month of July,
the company incurred $119100 of raw material costs, of which $90500
were direct materials, and $30000 were indirect materials. Actual
overhead incurred was $175400. What would be the debit entry to the
Work in Process Inventory account for July with respect to
manufacturing overhead?
$175400
$181000
$238200
$zero, the account should be credited
Mackinaw Manufacturing Corporation uses a predetermined overhead rate based on direct labor hours to apply manufacturing overhead to jobs. Last year, the Corporation worked 17,500 actual direct labor-hours and incurred $148.300 of actual manufacturing overhead cost. They had estimated at the beginning of the year that 16,300 direct labor hours would be worked and S146700 of manufacturing overhead costs incurred. The Corporation had calculated a predetermined overhead rate of $9 per direct labor-hour. The Corporation's manufacturing overhead for the year...
Luthan Company uses a predetermined overhead rate of $23.80 per direct labor-hour. This predetermined rate was based on a cost formula that estimated $285,600 of total manufacturing overhead for an estimated activity level of 12,000 direct labor-hours. The company incurred actual total manufacturing overhead costs of $266,000 and 12,500 total direct labor-hours during the period. Required: Determine the amount of manufacturing overhead that would have been applied to all jobs during the period. Manufacturing overhead applied
Westan Corporation uses a predetermined overhead rate of $23.70 per direct labor-hour. This predetermined rate was based on a cost formula that estimated $284,400 of total manufacturing overhead for an estimated activity level of 12,000 direct labor-hours. The company incurred actual total manufacturing overhead costs of $266,000 and 10,400 total direct labor-hours during the period. Required: Determine the amount of manufacturing overhead that would have been applied to all jobs during the period. Manufacturing overhead applied
Westan Corporation uses a predetermined overhead rate of $23.30 per direct labor-hour. This predetermined rate was based on a cost formula that estimated $279,600 of total manufacturing overhead for an estimated activity level of 12,000 direct labor-hours. The company incurred actual total manufacturing overhead costs of $269,000 and 10,800 total direct labor-hours during the period. Required: Determine the amount of manufacturing overhead that would have been applied to all jobs during the period. Manufacturing overhead applied
Osborn Manufacturing uses a predetermined overhead rate of
$19.20 per direct labor-hour. This predetermined rate was based on
a cost formula that estimates $249,600 of total manufacturing
overhead for an estimated activity level of 13,000 direct
labor-hours. The company actually incurred $247,000 of
manufacturing overhead and 12,500 direct labor-hours during the
period. Required: 1. Determine the amount of underapplied or
overapplied manufacturing overhead for the period. 2. Assume that
the company's underapplied or overapplied overhead is closed to
Cost of...
Luthan Company uses a plantwide predetermined overhead rate of $23.20 per direct labor-hour. This predetermined rate was based on a cost formula that estimated $278,400 of total manufacturing overhead cost for an estimated activity level of 12,000 direct labor- hours. The company incurred actual total manufacturing overhead cost of $266,000 and 12,300 total direct labor-hours during the period. Required: Determine the amount of manufacturing overhead cost that would have been applied to all jobs during the period. Manufacturing overhead applied...
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