Predetermined overhead rates are calculated using applied amounts actual amounts estimated or budgeted amounts
Predetermined overhead rates are calculated using
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applied amounts |
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actual amounts |
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estimated or budgeted amounts |
Homework Answers
Predetermined overhead rate=Estimated overhead/Estimated level of activity
Hence such activity could be machine hours;labor hours etc as per decision made by the company.
Such Predetermined overhead rate is multiplied to actual level of activity to compute applied overhead which is then compared to actual overhead to measure over/under applied overhead etc.
Hence the correct option is:
estimated or budgeted amounts
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Predetermined overhead rates are calculated using
applied amounts
actual amounts
estimated or budgeted amounts
Why are predetermined overhead rates calculated and used to estimate manufacturing overhead instead of using actual...
Why are predetermined overhead rates calculated and used to estimate manufacturing overhead instead of using actual overhead amounts?
CH 2 KB. The predetermined manufacturing overhead rate is calculated by multiplying the actual allocation base...
CH 2 KB. The predetermined manufacturing overhead rate is calculated by multiplying the actual allocation base factor by the estimated annual MOH multiplying the predetermined MOH rate by the actually allocation base factor dividing the annual estimated MOH by the annual estimated MOH allocation base multiplying the predetermined MOH rate by the actual allocation base
Alternate problem E Sullivan Company applied overhead to production using a predetermined overhead rate based on...
Alternate problem E Sullivan Company applied overhead to production using a predetermined overhead rate based on machine-hours. Budgeted data is: Budgeted machine-hours 75,000 Budgeted manufacturing overhead $870,000 a. Compute the predetermined overhead rate. b. Assume actual manufacturing overhead amounted to $997,500, and 86,000 machine-hours were used. Compute the amount of underapplied or overapplied manufacturing overhead and prepare the journal entry to transfer underapplied or overapplied overhead to Cost of Goods Sold.
Laughlin, Inc., uses a standard costing system. The predetermined overhead rates are calculated using practical capacity....
Laughlin, Inc., uses a standard costing system. The predetermined overhead rates are calculated using practical capacity. Practical capacity for a year is defined as 1,000,000 units requiring 200,000 standard direct labor heur Required: 5,300 Fixed Overhead volume Varlance 30,000Unfavorabe the fixed Applied fixed OH. OH rate (AVOR) - (SVDR) Standard of the l assuming they are not Overtead Contrl We were unable to transcribe this image
Predetermined Overhead Rates, Overhead Variances, Unit Costs McCawl Company produces two products and uses a predetermined...
Predetermined Overhead Rates, Overhead Variances, Unit Costs McCawl Company produces two products and uses a predetermined overhead rate to apply overhead. McCawl currently applies overhead using a plantwide rate based on direct labor hours. Consideration is being given to the use of departmental overhead rates where overhead would be applied on the basis of direct labor hours in department 1 and on the basis of machine hours in department 2. At the beginning of the year, the following estimates are provided: Required: 1....
help The Watts Company uses predetermined overhead rates to y manufacturing overhead to jobs the predetermined...
help
The Watts Company uses predetermined overhead rates to y manufacturing overhead to jobs the predetermined overhead rate is based on labor cost in Dept A and on machine hours in Dept. 8. At the beginning of the year, the company made the following estimates: Dept. A Dept. B Direct Labor Cost $30,000 $40,000 Manufacturing Overhead 60.000 50,000 Direct Labor Hours 6,000 8.000 Machine Hours 10,000 2,000 What predetermined overhead rates would be used in Dept. A and Dept. 8....
Underapplied overhead is the amount by which overhead applied to jobs using the predetermined overhead rate...
Underapplied overhead is the amount by which overhead applied to jobs using the predetermined overhead rate exceeds the actual overhead incurred during a period. True or False True False
Answer the following True or False Questions 1 i)Applied overhead is calculated by dividing the actual...
Answer the following True or False Questions 1 i)Applied overhead is calculated by dividing the actual activity level of application base by the predetermined overhead rate. True/False? ii)Overapplied overhead means that not enough overhead cost was charged to products as they were made. True/False? iii)As manufacturing overhead is incurred, it is added to the individual job. True/False?
Urbana Company calculates its predetermined manufacturing overhead rates using normal capacity, which is 288,000 units. The...
Urbana Company calculates its predetermined manufacturing overhead rates using normal capacity, which is 288,000 units. The standard cost system allows 2 direct labor hours per unit produced. Manufacturing overhead is applied using direct labor hours. The total budgeted manufacturing overhead is $3,168,000, of which $864,000 is fixed manufacturing overhead. The actual results for the year are as follows. 5. The company's variable manufacturing overhead efficiency (quantity) variance is: $24,000 F. (b) $40,000 U. $40,000 F. $24,000 U. (a) URBANA COMPANY...
both questions plz Under job order costing, the predetermined overhead rate equals: Estimated overhead divided by...
both questions plz
Under job order costing, the predetermined overhead rate equals: Estimated overhead divided by the number of months in the period Actual overhead divided by actual direct labor hours Actual overhead minus estimated overhead Actual overhead multiplied by the actual activity level for a period Estimated overhead divided by the estimated activity level for a period D la 2 19 Under job order costing, the overhead variance is underapplied if: actual overhead is less than applied overhead O...
CH 2 KB. The predetermined manufacturing overhead rate is calculated by multiplying the actual allocation base factor by the estimated annual MOH multiplying the predetermined MOH rate by the actually allocation base factor dividing the annual estimated MOH by the annual estimated MOH allocation base multiplying the predetermined MOH rate by the actual allocation base
Alternate problem E Sullivan Company applied overhead to production using a predetermined overhead rate based on machine-hours. Budgeted data is: Budgeted machine-hours 75,000 Budgeted manufacturing overhead $870,000 a. Compute the predetermined overhead rate. b. Assume actual manufacturing overhead amounted to $997,500, and 86,000 machine-hours were used. Compute the amount of underapplied or overapplied manufacturing overhead and prepare the journal entry to transfer underapplied or overapplied overhead to Cost of Goods Sold.
Laughlin, Inc., uses a standard costing system. The predetermined overhead rates are calculated using practical capacity. Practical capacity for a year is defined as 1,000,000 units requiring 200,000 standard direct labor heur Required: 5,300 Fixed Overhead volume Varlance 30,000Unfavorabe the fixed Applied fixed OH. OH rate (AVOR) - (SVDR) Standard of the l assuming they are not Overtead Contrl We were unable to transcribe this image
help
The Watts Company uses predetermined overhead rates to y manufacturing overhead to jobs the predetermined overhead rate is based on labor cost in Dept A and on machine hours in Dept. 8. At the beginning of the year, the company made the following estimates: Dept. A Dept. B Direct Labor Cost $30,000 $40,000 Manufacturing Overhead 60.000 50,000 Direct Labor Hours 6,000 8.000 Machine Hours 10,000 2,000 What predetermined overhead rates would be used in Dept. A and Dept. 8....
Underapplied overhead is the amount by which overhead applied to jobs using the predetermined overhead rate exceeds the actual overhead incurred during a period. True or False True False
Urbana Company calculates its predetermined manufacturing overhead rates using normal capacity, which is 288,000 units. The standard cost system allows 2 direct labor hours per unit produced. Manufacturing overhead is applied using direct labor hours. The total budgeted manufacturing overhead is $3,168,000, of which $864,000 is fixed manufacturing overhead. The actual results for the year are as follows. 5. The company's variable manufacturing overhead efficiency (quantity) variance is: $24,000 F. (b) $40,000 U. $40,000 F. $24,000 U. (a) URBANA COMPANY...
both questions plz
Under job order costing, the predetermined overhead rate equals: Estimated overhead divided by the number of months in the period Actual overhead divided by actual direct labor hours Actual overhead minus estimated overhead Actual overhead multiplied by the actual activity level for a period Estimated overhead divided by the estimated activity level for a period D la 2 19 Under job order costing, the overhead variance is underapplied if: actual overhead is less than applied overhead O...
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