A Company incurred direct materials costs of $85000 during the
year. Manufacturing overhead applied was $80000 and is applied
based on direct labor costs. The predetermined overhead rate is
80%. How much are the Company’s total
manufacturing costs for the
year?
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A Company incurred direct materials costs of $85000 during the
year. Manufacturing overhead applied was $80000...
A company uses a job order cost system and applies manufacturing overhead costs to jobs using...
A company uses a job order cost system and applies manufacturing overhead costs to jobs using a predetermined overhead rate based on direct labour-hours. The following data were extracted from the company's accounting records for the previous year: Manufacturing overhead: estimated: $50,000 actual: $55,000 Direct labour hours: estimated: #20,000 hrs actual: #24,000 hrs A job completed during the year incurred the following costs: Direct Materials $4,000 Direct labour $1,500 (at $5 per DLH) What was the under applied or over...
d. $1,260,000. 17. Haight Company incurred direct materials costs of $1,000,000 during the ves rials costs...
d. $1,260,000. 17. Haight Company incurred direct materials costs of $1,000,000 during the ves rials costs of $1,000,000 during the year. Manu- overhead applied was $180,000 and is applied at the rate of 60% of direct labor costs. Haight Company's total manufacturing costs for the year was a $1,480,000. b. $1,288,000 c. $1,180,000. d. $1,888,000.
Picard company used a predetermined overhead rate based on direct labour hours. The estimated annual manufacturing...
Picard company used a predetermined overhead rate based on direct labour hours. The estimated annual manufacturing overhead costs and direct labour hours were $150,000 and 20,000 respectively. Actual overhead costs and direct labour hours are $100,000 and 16,000 hours, respectively. What was the predetermined manufacturing overhead rate? What was the total manufacturing overhead costs applied during the period ?
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs...
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during the year: direct materials costs, $650,000; direct labor costs, $3,000,000; and factory overhead costs applied, $1,800,000. 1. Determine the company's predetermined overhead rate for the year. 2. Assuming that the company's $71,000 ending Work in Process Inventory account for the year had $20,000 of direct labor costs, determine the inventory's direct materials costs.
Which one of the following is used to calculate the predetermined overhead rate? O applied overhead...
Which one of the following is used to calculate the predetermined overhead rate? O applied overhead costs actual overhead costs O predetermined overhead costs O estimated overhead costs Manufacturing overhead applied is added to direct labour incurred and what other item to equal total manufacturing costs for the period? O Work in process. O Direct materials used. O Goods available for sale. O Raw materials purchased.
Manufacturing overhead costs incurred: Indirect materials $15,000 Indirect labor 130,000 Property taxes, factory 8,000 Utilities, factory...
Manufacturing overhead costs incurred: Indirect materials $15,000 Indirect labor 130,000 Property taxes, factory 8,000 Utilities, factory 70,000 Depreciation, factory 240,000 Insurance, factory 10,000 Total actual manufacturing overhead costs incurred $473,000 Other costs incurred: Purchases of raw materials (both direct and indirect) $400,000 Direct labor cost $60,000 Inventories: Raw materials, beginning $20,000 Raw materials, ending $30,000 Work in process, beginning $20,000 Work in process, ending $70,000 The company uses a predetermined overhead rate of $25 per machine-hour to apply overhead...
Sai Company uses a job order cost system and applies manufacturing overhead costs to jobs using...
Sai Company uses a job order cost system and applies manufacturing overhead costs to jobs using a predetermined overhead rate based on direct labour-hours. The following data were extracted from the company's accounting records for Year 6 Estimated Actual Manufacturing overhead costs $50,000 $54,000 Direct labour-hours 20,000 24,000 hours hours Job #461 was completed during the year and the following costs had been incurred on that job: Direct materials $4,000 $1,500 (at $5 per direct Direct labour labour hour) What...
Raw materials purchases $ 75,000 Direct labor cost $100,000 Manufacturing overhead cost incurred $ 68,000 Indirect...
Raw materials purchases $ 75,000 Direct labor cost $100,000 Manufacturing overhead cost incurred $ 68,000 Indirect materials included in manufacturing overhead cost incurred $ 11,600 Manufacturing overhead cost applied to Work in Process $ 67,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The direct materials cost for July is: Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: Direct materials: 6 kg at $9.00 per kg Direct labour: 3 hours at $15 per hour Variable overhead: 3 hours at $5 per hour $ 54.00 45.00 15.00 Total standard cost per unit $ 114.00 The company planned to produce and sell 20,000 units in March. However, during March the company actually produced and...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: Direct materials: 6 kg at $8.00 per kg $ 48.00 Direct labour: 4 hours at $13 per hour 52.00 Variable overhead: 4 hours at $5 per hour 20.00 Total standard cost per unit $ 120.00 The company planned to produce and sell 20,000 units in March. However, during March the company actually produced and...
d. $1,260,000. 17. Haight Company incurred direct materials costs of $1,000,000 during the ves rials costs of $1,000,000 during the year. Manu- overhead applied was $180,000 and is applied at the rate of 60% of direct labor costs. Haight Company's total manufacturing costs for the year was a $1,480,000. b. $1,288,000 c. $1,180,000. d. $1,888,000.
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during the year: direct materials costs, $650,000; direct labor costs, $3,000,000; and factory overhead costs applied, $1,800,000. 1. Determine the company's predetermined overhead rate for the year. 2. Assuming that the company's $71,000 ending Work in Process Inventory account for the year had $20,000 of direct labor costs, determine the inventory's direct materials costs.
Which one of the following is used to calculate the predetermined overhead rate? O applied overhead costs actual overhead costs O predetermined overhead costs O estimated overhead costs Manufacturing overhead applied is added to direct labour incurred and what other item to equal total manufacturing costs for the period? O Work in process. O Direct materials used. O Goods available for sale. O Raw materials purchased.
Sai Company uses a job order cost system and applies manufacturing overhead costs to jobs using a predetermined overhead rate based on direct labour-hours. The following data were extracted from the company's accounting records for Year 6 Estimated Actual Manufacturing overhead costs $50,000 $54,000 Direct labour-hours 20,000 24,000 hours hours Job #461 was completed during the year and the following costs had been incurred on that job: Direct materials $4,000 $1,500 (at $5 per direct Direct labour labour hour) What...
Raw materials purchases $ 75,000 Direct labor cost $100,000 Manufacturing overhead cost incurred $ 68,000 Indirect materials included in manufacturing overhead cost incurred $ 11,600 Manufacturing overhead cost applied to Work in Process $ 67,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The direct materials cost for July is: Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: Direct materials: 6 kg at $9.00 per kg Direct labour: 3 hours at $15 per hour Variable overhead: 3 hours at $5 per hour $ 54.00 45.00 15.00 Total standard cost per unit $ 114.00 The company planned to produce and sell 20,000 units in March. However, during March the company actually produced and...
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