Hilltop Manufacturing uses a predetermined manufacturing overhead rate based on direct labor hours to allocate manufacturing...
Hilltop Manufacturing uses a predetermined manufacturing overhead rate based on direct labor hours to allocate manufacturing overhead to jobs. Selected data about the company's operations follows:
| Actual manufacturing overhead cost | $500,900 |
| Estimated manufacturing overhead cost | $551,000 |
| Estimated direct labor cost | $175,200 |
| Estimated direct labor hours | 50,500 |
| Actual direct labor hours | 60,800 |
| Estimated machine hours | 40,300 |
| Actual machine hours | 35,800 |
By how much was manufacturing overhead overallocated or underallocated for the year? (Round intermediary calculations to the nearest cent.)
| A. |
$162,428 overallocated |
|
| B. |
$50,100 overallocated |
|
| C. |
$50,100 underallocated |
|
| D. |
$162,428 underallocated |
Homework Answers
predetermined manufacturing overhead rate=Estimated manufacturing overhead cost/Estimated direct labor hours
=551,000/50,500
=$10.91 per direct labor hours
Hence applied overhead=predetermined manufacturing overhead rate*Actual direct labor hours
=10.91*60800
=$663328
Hence since applied overhead is greater than actual manufacturing overhead;
Overallocated overhead=663328-500900
=$162428
Add Answer to:
Hilltop Manufacturing uses a predetermined manufacturing
overhead rate based on direct labor hours to
allocate manufacturing...
Biltz Company uses a predetermined overhead rate based on direct labor hours to allocate manufacturing overhead...
Biltz Company uses a predetermined overhead rate based on direct labor hours to allocate manufacturing overhead to jobs. During the year, the company actually incurred manufacturing overhead costs of $582,700 and 135,000 direct labor hours were worked. The company estimated that it would incur $525,200 of manufacturing overhead during the year and that 150,400 direct labor hours would be worked. By how much was manufacturing overhead overallocated or underallocated for the year? (Round intermediary calculations to the nearest cent.) O...
Beta Company uses a predetermined overhead rate based on direct labor hours to allocate manufacturing overhead...
Beta Company uses a predetermined overhead rate based on direct labor hours to allocate manufacturing overhead to jobs. The company estimated that it would incur $600,800 of manufacturing overhead during the year and that 150,200 direct labor hours would be worked. During the year, the company actually incurred manufacturing overhead costs of S582,200 and 135,400 direct labor hours were worked By how much was manufacturing overhead overallocated or underallocated for the year? (Round intermediary calculations to the nearest cent and...
Bitz Company uses a predetermined overhead rate based on direct labor hours to alocate manufacturing overhead...
Bitz Company uses a predetermined overhead rate based on direct labor hours to alocate manufacturing overhead to jobs. During the year, the company actually incurred manufacturing overhead costs of $582,900 and 135,100 direct labor hours were worked. The company estimated that it would incur $525,600 of manufacturing overhead during the year and that 150,300 direct labor hours would be worked. By how much was manufacturing overhead overallocated or underallocated for the year? (Round intermediary calculations to the nearest cent.) O...
Bilte Company uses a predetermined overhead rate based on direct labor hours to locate manufacturing overhead...
Bilte Company uses a predetermined overhead rate based on direct labor hours to locate manufacturing overhead to jobs. During the year, the company actually incurred manufacturing overhead costs of $582,100 and 135.000 direct labor hours were worked. The company estimated that it would incur $525.400 of manufacturing overhead during the year and that 150.400 direct labor hours would be worked By how much was manufacturing overhead overallocated or underallocated for the year? (Round intermediary calculations to the nearest cent) $110,950...
Be Company uses a predetermined overhead rate based on direct labor hours to locate manufacturing overted...
Be Company uses a predetermined overhead rate based on direct labor hours to locate manufacturing overted to jobs. During the year, the company husly incurred manufacturing costs of 300 and 135,000 director hours were worted. The company estimated that it would hour 525,200 el manufacturing overhoed during the year and that 150,000 direct labor hours would be world By how much was manufacturing overhead overlocuted or under located for the year? (Round intermediary calculations to the rear cent) O A...
Patel Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on...
Patel Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on the machine hours required. (Click the icon to view the costs.) Read the requirements P. i Data Table At the beginning of 2018, the company expected to incur the following: Manufacturing overhead costs $ 850,000 Direct labor costs 1,550,000 Machine hours 85,000 hours At the end of 2018, the company had actually incurred: $ 1,210,000 520,000 36,500 Direct labor costs Depreciation on manufacturing plant...
Smith Foundry uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on...
Smith Foundry uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the beginning of the year, the company expected to incur the following: (Click the icon to view the costs.) Smith's accountant found an error in the expense records from the year reported. Depreciation on manufacturing plant and equipment was actually $415,000, not the $490,000 that had originally been reported. The unadjusted Cost of Goods Sold balance at year-end was...
Martinez Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on...
Martinez Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on the machine hours required. (Click the icon to view the costs.) Read the requirements. Requirement 1. Compute Martinez' predetermined overhead allocation rate. Predetermined overhead allocation rate per machine hour Requirement 2. Prepare the journal entry to allocate manufacturing overhead. (Record debits first, then credits. Exclude explanations from any journal entries.) Date Accounts Debit Credit Dec. 31 Requirement 3. Post the manufacturing overhead transactions to...
Jackson Foundry in Columbus, Ohio, uses a predetermined manufacturing overhead rate to allocate overhead to individual...
Jackson Foundry in Columbus, Ohio, uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the beginning of the year, the company expected to incur the following (Click the icon to view the costs.) Requirements 1. Compute Jackson's predetermined manufacturing overhead rate. 2. How much manufacturing overhead was allocated to jobs during the year? 3. How much manufacturing overhead was incurred during the year? is manufacturing overhead underallocated or overallocated at...
Freeman Foundry uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on...
Freeman Foundry uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the beginning of the year, the company expected to incur the following: (Click the icon to view the beginning of the year information.) At the end of the year, the company had actually incurred the following: (Click the icon to view the ending of the year information.) Requirements 1. Compute Freeman's predetermined manufacturing overhead rate. 2. How much manufacturing...
Biltz Company uses a predetermined overhead rate based on direct labor hours to allocate manufacturing overhead to jobs. During the year, the company actually incurred manufacturing overhead costs of $582,700 and 135,000 direct labor hours were worked. The company estimated that it would incur $525,200 of manufacturing overhead during the year and that 150,400 direct labor hours would be worked. By how much was manufacturing overhead overallocated or underallocated for the year? (Round intermediary calculations to the nearest cent.) O...
Beta Company uses a predetermined overhead rate based on direct labor hours to allocate manufacturing overhead to jobs. The company estimated that it would incur $600,800 of manufacturing overhead during the year and that 150,200 direct labor hours would be worked. During the year, the company actually incurred manufacturing overhead costs of S582,200 and 135,400 direct labor hours were worked By how much was manufacturing overhead overallocated or underallocated for the year? (Round intermediary calculations to the nearest cent and...
Bitz Company uses a predetermined overhead rate based on direct labor hours to alocate manufacturing overhead to jobs. During the year, the company actually incurred manufacturing overhead costs of $582,900 and 135,100 direct labor hours were worked. The company estimated that it would incur $525,600 of manufacturing overhead during the year and that 150,300 direct labor hours would be worked. By how much was manufacturing overhead overallocated or underallocated for the year? (Round intermediary calculations to the nearest cent.) O...
Bilte Company uses a predetermined overhead rate based on direct labor hours to locate manufacturing overhead to jobs. During the year, the company actually incurred manufacturing overhead costs of $582,100 and 135.000 direct labor hours were worked. The company estimated that it would incur $525.400 of manufacturing overhead during the year and that 150.400 direct labor hours would be worked By how much was manufacturing overhead overallocated or underallocated for the year? (Round intermediary calculations to the nearest cent) $110,950...
Be Company uses a predetermined overhead rate based on direct labor hours to locate manufacturing overted to jobs. During the year, the company husly incurred manufacturing costs of 300 and 135,000 director hours were worted. The company estimated that it would hour 525,200 el manufacturing overhoed during the year and that 150,000 direct labor hours would be world By how much was manufacturing overhead overlocuted or under located for the year? (Round intermediary calculations to the rear cent) O A...
Patel Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on the machine hours required. (Click the icon to view the costs.) Read the requirements P. i Data Table At the beginning of 2018, the company expected to incur the following: Manufacturing overhead costs $ 850,000 Direct labor costs 1,550,000 Machine hours 85,000 hours At the end of 2018, the company had actually incurred: $ 1,210,000 520,000 36,500 Direct labor costs Depreciation on manufacturing plant...
Smith Foundry uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the beginning of the year, the company expected to incur the following: (Click the icon to view the costs.) Smith's accountant found an error in the expense records from the year reported. Depreciation on manufacturing plant and equipment was actually $415,000, not the $490,000 that had originally been reported. The unadjusted Cost of Goods Sold balance at year-end was...
Martinez Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on the machine hours required. (Click the icon to view the costs.) Read the requirements. Requirement 1. Compute Martinez' predetermined overhead allocation rate. Predetermined overhead allocation rate per machine hour Requirement 2. Prepare the journal entry to allocate manufacturing overhead. (Record debits first, then credits. Exclude explanations from any journal entries.) Date Accounts Debit Credit Dec. 31 Requirement 3. Post the manufacturing overhead transactions to...
Jackson Foundry in Columbus, Ohio, uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the beginning of the year, the company expected to incur the following (Click the icon to view the costs.) Requirements 1. Compute Jackson's predetermined manufacturing overhead rate. 2. How much manufacturing overhead was allocated to jobs during the year? 3. How much manufacturing overhead was incurred during the year? is manufacturing overhead underallocated or overallocated at...
Freeman Foundry uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the beginning of the year, the company expected to incur the following: (Click the icon to view the beginning of the year information.) At the end of the year, the company had actually incurred the following: (Click the icon to view the ending of the year information.) Requirements 1. Compute Freeman's predetermined manufacturing overhead rate. 2. How much manufacturing...
Most questions answered within 3 hours.
-
A student takes a multiple-choice test that has 10 questions.
Each question has two choices. The...
asked 17 minutes ago -
Willie Keeler has a lifetime batting average of 0.341. Assume
that Willie Keeler came to bat...
asked 19 minutes ago -
Which of the following has the highest boiling point?
A) 0.5m NaCl
B) 0.5m C6H12O6
C)...
asked 38 minutes ago -
12. A firm is producing at an output level where
AR = MC > AC >...
asked 35 minutes ago -
Radovilsky Manufacturing Company, in Hayward, California,
makes flashing lights for toys. The company operates its production...
asked 37 minutes ago -
As an athlete exercises, sweat is produced and evaporated to
jelp maintain a proper body temperature....
asked 37 minutes ago -
Which of these macromolecules is most prevalent (by mass) in the
environment? What particular challenge does...
asked 39 minutes ago -
Consider two stocks. Stock A has a standard deviation of 46% and
stock B has a...
asked 42 minutes ago -
Give a unary language (using only input alphabet ∑={1} )that is
not Turing- recognizable and prove...
asked 53 minutes ago -
1. Write the balanced net reaction for a Ti (s) | TiCl2 (aq) ||
InCl3 (aq)...
asked 51 minutes ago -
3) Answer the following questions:please respond in one
paragraph
In your opinion, what are the crucial...
asked 57 minutes ago -
Assume that the readings at freezing on a batch of thermometers
are normally distributed with a...
asked 1 hour ago