Overhead rate = 2361600/1476000 = 160% of direct material cost
Over applied overhead = 2632000-2495000 = 137000
No | Transaction | General journal | Debit | Credit |
A | 1 | Manufacturing overhead | 137000 | |
Cost of goods sold (7457250/9150000*137000) | 111655 | |||
Finished goods | 17810 | |||
Work in process | 7535 |
Yarra Fabrication estimates that its manufacturing overhead will be $2,361,600 in year 1. It further estimates...
Yarra Fabrication estimates that its manufacturing overhead will be $2,348,800 in year 1. It further estimates that direct material costs will amount to $1,468,000. Actual manufacturing overhead costs for the year were $2,485,000. Actual direct materials costs were $1,635,000. Manufacturing overhead is applied to jobs based on direct materials cost using predetermined rates. The total applied overhead for the year was $2,616,000 The balance in each of the inventory accounts is as follows. Work-in-process inventory Finished goods inventory Cost of...
Please help with the following problem.
Yarra Fabrication estimates that its manufacturing overhead will be $2,348,800 in year 1. It further estimates that direct material costs will amount to $1,468,000. Actual manufacturing overhead costs for the year were $2,485,000. Actual direct materials costs were $1,635.000. Manufacturing overhead is applied to jobs based direct materials cost using predetermined rates. Overhead applied in each of the inventory accounts is as follows. Work-in-process inventory Finished goods inventory Cost of goods sold $ 497,750...
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including the math
Yarra Fabrication estimates that its manufacturing overhead will be $2,240,000 in year 1. It further estimates that direct material costs will amount to $1,400,000. Actual manufacturing overhead costs for the year were $2,400,000. Actual direct materials costs were $1,550,000. Manufacturing overhead is applied to jobs based direct materials cost using predetermined rates. Overhead applied in each of the inventory accounts is as follows. Work-in-process inventory Finished goods inventory Cost of goods sold $...
Yarra Fabrication estimates that its manufacturing overhead will be $2.368.000 in year 1 It further estimates that direct material costs will amount to $1.480,000. During July. Yarra worked on four jobs with actual direct materials costs of $80,000 for Job 0701 $120,000 for Job 0702. $155.000 for Job 0703. and $75,000 for Job 0704. Actual manufacturing overhead costs for the year were $2.500.000 Actual direct materials costs were $1650,000. Manufacturing overhead is applied to jobs based on direct materials cost...
Aspen Company estimates its manufacturing overhead to be $608,400 and its direct labor costs to be $507,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $272,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $340,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $68,000. Actual...
Aspen Company estimates its manufacturing overhead to be $625,000 and its direct labor costs to be $500,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $195,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $325,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $130,000. Actual...
Southern Rim Parts estimates its manufacturing overhead to be
$436,000 and its direct labor costs to be $1,090,000 for year 1.
The first three jobs that Southern Rim worked on had actual direct
labor costs of $68,000 for Job 301, $93,000 for Job 302, and
$190,000 for Job 303. For the year, actual manufacturing overhead
was $384,000 and total direct labor cost was $831,000.
Manufacturing overhead is applied to jobs on the basis of direct
labor costs using predetermined rates....
Southern Rim Parts estimates its manufacturing overhead to be $374,500 and its direct labor costs to be $1,070,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $66,000 for Job 301, $91,000 for Job 302, and $180,000 for Job 303. For the year, actual manufacturing overhead was $394,000 and total direct labor cost was $833,000. Manufacturing overhead is applied to jobs on the basis of direct labor costs using predetermined rates....
Aspen Company estimates its manufacturing overhead to be $646,250 and its direct labor costs to be $517,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $151064. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $380,944. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $124,792. Actual...
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