Homework Answers
1)
| Choose numerator | / | Choose denominator | = | Overhead rate |
| Factory overhead | / | Direct labour | = | Overhead rate |
| $144,000 | / | $520,000 | = | 27.69% |
2)
| Choose numerator | / | Choose denominator | = | Overhead rate |
| Factory overhead | / | Direct material | = | Overhead rate |
| $144,000 | / | $182,000 | = | 79.12% |
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5 OS 15-6 Factory overhead rates LO P3 A company estimates the following manufacturing costs for...
A company estimates the following manufacturing costs for the next period direct labor $56.000, direct materials....
A company estimates the following manufacturing costs for the next period direct labor $56.000, direct materials. 51836,000, and factory overhead SDR000 Required 1. Computers predetermined overhead rate as a percent of direct labor 2. Compute overhead cost as a percent of direct materials Complete this question try entering your answers in the tabs below Required 1 red 2 Compute its predetermined overhead rate as a percent of direct labor Chabe unter A company estimates the following manufacturing costs for the...
Help Save & Exit At the beginning of the year, a company estimates the following manufacturing...
Help Save & Exit At the beginning of the year, a company estimates the following manufacturing costs for the next period: direct labor, $528,000, direct materials, $180,000, and factory overhead, $125,000 Check Required: 1. Compute its predetermined overhead rate as a percent of direct labor. 2. Compute its overhead cost as a percent of direct materials Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Compute its overhead cost as a percent of direct...
Exercise 15-17 Overhead rate calculation, allocation, and analysis LO P3 Moonrise Bakery applies factory overhead based...
Exercise 15-17 Overhead rate calculation, allocation, and analysis LO P3 Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during the year: direct materials costs, $700,000; direct labor costs, $3,500,000; and factory overhead costs applied, $2,100,000. 1. Determine the company's predetermined overhead rate for the year. 2. Assuming that the company's $76,000 ending Work in Process Inventory account for the year had $25,000 of direct labor costs, determine the inventory's direct materials costs....
Exercise 15-11 Overhead rate; costs assigned to jobs LO P3 Shire Computer's predetermined overhead rate is...
Exercise 15-11 Overhead rate; costs assigned to jobs LO P3 Shire Computer's predetermined overhead rate is based on direct labor cost. Management estimates the company will incur $636,000 of overhead costs and $530,000 of direct labor cost for the year. During March, Shire began and completed Job 13-56. 1. What is the predetermined overhead rate for the year? 2. Use the information on the following job cost sheet to determine the total cost of the job. Complete this question by...
12 Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of...
12 Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of the year Custom Maig established its predetermined overhead rate by using the following cost predictions overhead costs $900.000, and direct materials costs, $400,000. At year-end, the company's records show that actual overhead cost for the year are $124800. Actual direct materials cost had been assigned to jobs as follows. - ર completed and sold in work in process inventory Total sal dit materials coat...
M2-9 (Algo) Calculating Predetermined Overhead Rate (LO 2-3) Hamilton Company applies manufacturing overhead costs to products...
M2-9 (Algo) Calculating Predetermined Overhead Rate (LO 2-3) Hamilton Company applies manufacturing overhead costs to products based on direct labor hours. The company estimates manufacturing overhead cost for the year to be $252,000 and direct labor hours to be 20,000. Actual overhead for the year was $265,000. Required: 1. Compute the predetermined overhead rate. 2. If the company actually used 22,200 direct labor hours, how much manufacturing overhead is applied to the company's jobs? Complete this question by entering your...
E2-18 (Algo) Calculating Actual and Applied Manufacturing Overhead Costs and Over-or Underapplied Overhead Costs [LO 2-3,2-4,2-5,...
E2-18 (Algo) Calculating Actual and Applied Manufacturing Overhead Costs and Over-or Underapplied Overhead Costs [LO 2-3,2-4,2-5, 2-6) Verizon Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $181,450. Estimated direct labor cost was $477,500 for 19,100 hours. Actual costs for the most recent month are summarized here: Item Description Total Cost Direct labor (1,910 hours)...
Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of the...
Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of the year, Custom Mfg. established its predetermined overhead rate by using the following cost predictions: overhead costs, $390,000, and direct materials costs, $300,000. At year-end, the company's records show that actual overhead costs for the year are $663,700. Actual direct materials cost had been assigned to jobs as follows. Jobs completed and sold Jobs in finished goods inventory Jobs in work in process inventory Total...
Hamilton Company applies manufacturing overhead costs to products based on direct labor hours. The company estimates...
Hamilton Company applies manufacturing overhead costs to products based on direct labor hours. The company estimates manufacturing overhead cost for the year to be $282,000 and direct labor hours to be 20,000. Actual overhead for the year was $340,000. Required: 1. Compute the predetermined overhead rate. 2. If the company actually used 25,200 direct labor hours, how much manufacturing overhead is applied to the company's jobs? Complete this question by entering your answers in the tabs below. Required i Required...
Exercise 15-16 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of the...
Exercise 15-16 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of the year, Infodeo established its predetermined overhead rate for movies produced during the year by using the following cost predictions: overhead costs, $1,935,000, and direct labor costs, $430,000. At year-end, the company's records show that actual overhead costs for the year are $1,074,500. Actual direct labor cost had been assigned to jobs as follows. Movies completed and released Movies still in production Total actual direct...
A company estimates the following manufacturing costs for the next period direct labor $56.000, direct materials. 51836,000, and factory overhead SDR000 Required 1. Computers predetermined overhead rate as a percent of direct labor 2. Compute overhead cost as a percent of direct materials Complete this question try entering your answers in the tabs below Required 1 red 2 Compute its predetermined overhead rate as a percent of direct labor Chabe unter A company estimates the following manufacturing costs for the...
Help Save & Exit At the beginning of the year, a company estimates the following manufacturing costs for the next period: direct labor, $528,000, direct materials, $180,000, and factory overhead, $125,000 Check Required: 1. Compute its predetermined overhead rate as a percent of direct labor. 2. Compute its overhead cost as a percent of direct materials Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Compute its overhead cost as a percent of direct...
Exercise 15-17 Overhead rate calculation, allocation, and analysis LO P3 Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during the year: direct materials costs, $700,000; direct labor costs, $3,500,000; and factory overhead costs applied, $2,100,000. 1. Determine the company's predetermined overhead rate for the year. 2. Assuming that the company's $76,000 ending Work in Process Inventory account for the year had $25,000 of direct labor costs, determine the inventory's direct materials costs....
Exercise 15-11 Overhead rate; costs assigned to jobs LO P3 Shire Computer's predetermined overhead rate is based on direct labor cost. Management estimates the company will incur $636,000 of overhead costs and $530,000 of direct labor cost for the year. During March, Shire began and completed Job 13-56. 1. What is the predetermined overhead rate for the year? 2. Use the information on the following job cost sheet to determine the total cost of the job. Complete this question by...
12 Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of the year Custom Maig established its predetermined overhead rate by using the following cost predictions overhead costs $900.000, and direct materials costs, $400,000. At year-end, the company's records show that actual overhead cost for the year are $124800. Actual direct materials cost had been assigned to jobs as follows. - ર completed and sold in work in process inventory Total sal dit materials coat...
M2-9 (Algo) Calculating Predetermined Overhead Rate (LO 2-3) Hamilton Company applies manufacturing overhead costs to products based on direct labor hours. The company estimates manufacturing overhead cost for the year to be $252,000 and direct labor hours to be 20,000. Actual overhead for the year was $265,000. Required: 1. Compute the predetermined overhead rate. 2. If the company actually used 22,200 direct labor hours, how much manufacturing overhead is applied to the company's jobs? Complete this question by entering your...
E2-18 (Algo) Calculating Actual and Applied Manufacturing Overhead Costs and Over-or Underapplied Overhead Costs [LO 2-3,2-4,2-5, 2-6) Verizon Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $181,450. Estimated direct labor cost was $477,500 for 19,100 hours. Actual costs for the most recent month are summarized here: Item Description Total Cost Direct labor (1,910 hours)...
Exercise 15-15 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of the year, Custom Mfg. established its predetermined overhead rate by using the following cost predictions: overhead costs, $390,000, and direct materials costs, $300,000. At year-end, the company's records show that actual overhead costs for the year are $663,700. Actual direct materials cost had been assigned to jobs as follows. Jobs completed and sold Jobs in finished goods inventory Jobs in work in process inventory Total...
Hamilton Company applies manufacturing overhead costs to products based on direct labor hours. The company estimates manufacturing overhead cost for the year to be $282,000 and direct labor hours to be 20,000. Actual overhead for the year was $340,000. Required: 1. Compute the predetermined overhead rate. 2. If the company actually used 25,200 direct labor hours, how much manufacturing overhead is applied to the company's jobs? Complete this question by entering your answers in the tabs below. Required i Required...
Exercise 15-16 Factory overhead computed, applied, and adjusted LO P3, P4 At the beginning of the year, Infodeo established its predetermined overhead rate for movies produced during the year by using the following cost predictions: overhead costs, $1,935,000, and direct labor costs, $430,000. At year-end, the company's records show that actual overhead costs for the year are $1,074,500. Actual direct labor cost had been assigned to jobs as follows. Movies completed and released Movies still in production Total actual direct...
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