The total actual manufacturing overhead incurred during the period for Ashley’s Corporation is $250,000. The total manufacturing applied to all jobs worked on during the period for Ashley’s Corporation is $285,000. What is the amount of over or underapplied manufacturing overhead?
Since applied overhead is greater than actual overhead;
Over applied overhead=285,000-250,000
which is equal to
=$35,000
The total actual manufacturing overhead incurred during the period for Ashley’s Corporation is $250,000. The total...
During March, Pendergraph Corporation incurred $66,000 of actual Manufacturing Overhead costs. During the same period, the Manufacturing Overhead applied to Work in Process was $68,000. The journal entry to record the application of Manufacturing Overhead to Work in Process would include a:
19. During February, Irving Corporation incurred $82,000 of actual Manufacturing Overhead costs. During the same period, the Manufacturing Overhead applied to Work in Process was $77,000. The journal entry to record the incurrence of the actual Manufacturing Overhead costs would include a:
During March, Pendergraph Corporation incurred $77,000 of actual Manufacturing Overhead costs. During the same period, the Manufacturing Overhead applied to Work in Process was $79,000. The journal entry to record the incurrence of the actual Manufacturing Overhead costs would include a: Multiple Choice credit to Manufacturing Overhead of $77,000 credit to Work in Process of $79,000 debit to Work in Process of $79,000 debit to Manufacturing Overhead of $77,000
20. During February, Irving Corporation incurred $84,000 of actual Manufacturing Overhead costs. During the same period, the Manufacturing Overhead applied to Work in Process was $80,000. The journal entry to record the application of Manufacturing Overhead to Work in Process would include a:
During December, Moulding Corporation incurred $79,000 of actual Manufacturing Overhead costs. During the same period, the Manufacturing Overhead applied to Work in Process was $77,000. Required: Prepare journal entries to record the incurrence of manufacturing overhead and the application of manufacturing overhead to Work in Process. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the entry for incurrence of manufacturing overhead...
The actual manufacturing overhead incurred at Fraze Corporation during November was $79,000, while the manufacturing overhead applied to Work in Process was $65,000. The Corporation's Cost of Goods Sold was $385,000 prior to closing out its Manufacturing Overhead account. The Corporation closes out its Manufacturing Overhead account to Cost of Goods Sold. Which of the following statements is true? Manufacturing overhead for the month was underapplied by $14,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is...
Sawyer Manufacturing Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Last year, the Corporation worked 47,000 actual direct labor-hours and incurred $810,000 of actual manufacturing overhead cost. The Corporation had estimated that it would work 45,000 direct labor-hours during the year and incur $765,000 of manufacturing overhead cost. The Corporation's manufacturing overhead cost for the year was: O underapplied by $34,000 O overapplied by $11,000 O underapplied by $11,000 overapplied by $34,000
Question Completion Status: QUESTION 20 The Vasquez Corporation incurred $27,000 in actual manufacturing overhead cost, and applied $29,000 of manufacturing overhead cost to jobs. The Finished Goods inventory balance increased by $1,000 from the beginning to the end of the year, and the Corporation's Cost of Goods Manufactured for the year totaled $71,000. Given this information, Cost of Goods Sold, after adjustment for any overapplied or underapplied manufacturing overhead, for the year must have been A $69,000 B. $68,000 C....
Applied vs. Actual Manufacturing Overhead Sloan Manufacturing Corporation applies manufacturing overhead on the basis of 120% of direct labor cost. An analysis of the related accounts and job order cost sheet indicates that during the year total manufacturing overhead incurred was $525,000 and that at year-end Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold included $75,000, $50,000, and $375,000, respectively, of direct labor incurred during the current year a. Determine the over-applied manufacturing overhead at year-end...
above. 8 pts Question 23 ABC Manufacturing Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Last year, the Corporation worked 57,750 actual direct labor-hours and incurred $422,000 of actual manufacturing overhead cost. The Corporation had estimated that it would work 60,700 direct labor-hours during the year and incur $376,340 of manufacturing overhead cost. Compute the amount of over or underapplied overhead at the end of the year. Show work and be sure...