Homework Answers
1. Predetermined OH rate = Estimated OH / Estimated machine hours = 450,000 / 750,000
That is, $0.6 per machine hour
2. Applied OH for the year = Predetermined OH rate * Actual machine hours = 0.6 * 145,000
That is, $87,000
3.
| Manufacting cost | |
| Raw materials used | 65,000 |
| Direct labor | 32,000 |
| Factory electricity | 10,000 |
| Applied overheads | 87,000 |
| Depreciation | 35,000 |
| Insurance | 8,000 |
| Indirect materials | 7,000 |
| Indirect labor | 24,000 |
| Total manufacturing cost | 268,000 |
4. Overheads were underapplied. Underapplication = Estimated OH - Actual OH = 450,000 - 87,000 = 363,000
Thus, overheads were underapplied by 363,000
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this is the only thing given. thats why...
need help asap. totally lost ACCT2102 Em 2.K 1 / 1 110%- Beginning balance, Finished Goods...
need help asap. totally lost
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110% Beginning balance, Finished Goods Inventory 17,000 Purchases of raw materials 54,000 Factory electricity 10,000 Direct...
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this my question and i only need help with step 4,5,6,7,8 and thats it. Step 1...
this my question and i only need help with step 4,5,6,7,8 and
thats it.
Step 1 You work for Thunderduck Custom Tables Inc. This is the first month of operations. The company designs and manufactures specialty tables. Each table is specially customized for the customer. This month, you have been asked to develop and manufacture two new tables for customers. You will design and build the tables. This is a no nail, no screw, and no glue manufacturing (no indirect...
The following cost data relate to the manufacturing activities of Chang Company during the just completed...
The following cost data relate to the manufacturing activities of Chang Company during the just completed year: $ 17,000 150,000 10,000 90,000 147,000 12,000 $426,000 Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) Direct labor cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $420,000 $ 80,000...
The following cost data relate to the manufacturing activities of Chang Company during the just completed...
The following cost data relate to the manufacturing activities of Chang Company during the just completed year Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) Direct labor cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 15,700 137,000 8,700 77,089 279,900 10,700 $ 520,000 $ 407,000...
The following cost data relate to the manufacturing activities of Chang Company during the just completed...
The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials Indirect labor $ 15,200 132,000 8,200 72,000 152,400 10,200 $390,000 Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other costs incurred: $ 402,000 $ 62,000 Purchases of raw materials (both direct and indirect) Direct labor cost Inventories Raw materials, beginning Raw materials, ending Work in process, beginning Work in process,...
how do i calculate? Required information [The following information applies to the questions displayed below.) Marcelino...
how do i calculate?
Required information [The following information applies to the questions displayed below.) Marcelino Co.'s March 31 inventory of raw materials is $86,000. Raw materials purchases in April are $520,000, and factory payroll cost in April is $380,000. Overhead costs incurred in April are: indirect materials, $54,000; indirect labor, $20,000; factory rent, $35,000; factory utilities, $23,000; and factory equipment depreciation, $59,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $695,000 cash...
Please answer either or question if you know how to do only one of them and...
Please answer either or question if you know how to do only one
of them and not the other. I am really struggling with how to do
this step by step. Thank you
one Review Chapters 1-3 Corporation uses a predetermined overhead rate based on direct labor hours to a ing overhead to jobs. The company's estimated manufacturing overhead is $3487 labor-hours. The company's direct labor wage rate is $25 per sted to $185.000, with an actual direct labor cost...
need help asap. totally lost
ACCT2102 Em 2.K 1 / 1 110%- Beginning balance, Finished Goods Inventory 17,000 Purchases of raw materials 54.000 Factory electricity 10,000 Direct labor payroll 32,000 Depreciation on factory equipment 35 000 Insurance on factory building 8.000 Indirect materials used in production 7,000 Total raw materials used in production 65,000 Indirect labor payroll 24000 Cost of goods manufactured 200.000 Cost of goods sold 210.000 Estimated manufacturing overhead is $450,000 and overhead is allocated based on machine...
110% Beginning balance, Finished Goods Inventory 17,000 Purchases of raw materials 54,000 Factory electricity 10,000 Direct labor payroll 32,000 Depreciation on factory equipment 35 000 Insurance on factory building 8,000 Indirect materials used in production 7.000 Total raw materials used in production 65.000 Indirect labor payroll 24 000 Cost of goods manufactured 200,000 Cost of goods sold 210.000 Estimated manufacturing overhead is $450,000 and overhead is allocated based on machine hours. Estimated machine hours are 750,000 hours. Actual machine hours...
1 / 1 110% R 17.000 Beginning balance, Finished Goods Inventory Purchases of raw materials Factory electricity Direct labor payroll Depreciation on factory equipment Insurance on factory building Indirect materials used in production Total raw materials used in production Indirect labor payroll Cost of goods manufactured Cost of goods sold 54,000 10,000 32.000 35 000 8,000 7,000 65,000 24 000 200,000 210,000 Estimated manufacturing overhead is $450,000 and overhead is allocated based on machine hours. Estimated machine hours are 750,000...
this my question and i only need help with step 4,5,6,7,8 and
thats it.
Step 1 You work for Thunderduck Custom Tables Inc. This is the first month of operations. The company designs and manufactures specialty tables. Each table is specially customized for the customer. This month, you have been asked to develop and manufacture two new tables for customers. You will design and build the tables. This is a no nail, no screw, and no glue manufacturing (no indirect...
The following cost data relate to the manufacturing activities of Chang Company during the just completed year: $ 17,000 150,000 10,000 90,000 147,000 12,000 $426,000 Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) Direct labor cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $420,000 $ 80,000...
The following cost data relate to the manufacturing activities of Chang Company during the just completed year Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) Direct labor cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 15,700 137,000 8,700 77,089 279,900 10,700 $ 520,000 $ 407,000...
The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials Indirect labor $ 15,200 132,000 8,200 72,000 152,400 10,200 $390,000 Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other costs incurred: $ 402,000 $ 62,000 Purchases of raw materials (both direct and indirect) Direct labor cost Inventories Raw materials, beginning Raw materials, ending Work in process, beginning Work in process,...
how do i calculate?
Required information [The following information applies to the questions displayed below.) Marcelino Co.'s March 31 inventory of raw materials is $86,000. Raw materials purchases in April are $520,000, and factory payroll cost in April is $380,000. Overhead costs incurred in April are: indirect materials, $54,000; indirect labor, $20,000; factory rent, $35,000; factory utilities, $23,000; and factory equipment depreciation, $59,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $695,000 cash...
Please answer either or question if you know how to do only one
of them and not the other. I am really struggling with how to do
this step by step. Thank you
one Review Chapters 1-3 Corporation uses a predetermined overhead rate based on direct labor hours to a ing overhead to jobs. The company's estimated manufacturing overhead is $3487 labor-hours. The company's direct labor wage rate is $25 per sted to $185.000, with an actual direct labor cost...
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