1) Predetermine overhead rate
Estimated overhead | / | estimated labor cost | = | Predetermine overhead rate |
1470000 | / | 2100000 | = |
70% of direct labor cost |
2) Applied overhead
Job | Direct labor cost | Overhead applied |
201 | 620000 | 620000*70% = 434000 |
202 | 579000 | 405300 |
203 | 314000 | 219800 |
204 | 732000 | 512400 |
205 | 330000 | 231000 |
206 | 33000 | 23100 |
Total | 2608000 | 1825600 |
T account
Factory overhead | |||
Actual overhead | 1843000 | 1825600 | Applied overhead |
Balance | 17400 |
Under applied overhead = 17400
Adjusting entry
No | General Journal | Debit | Credit |
Cost of goods sold | 17400 | ||
Manufacturing overhead | 17400 | ||
At the beginning of the year, Learer Company's manager estimated total direct labor cost assuming 35...
At the beginning of the year, Learer Company’s manager estimated total direct labor cost assuming 40 persons working an average of 2,000 hours each at an average wage rate of $40 per hour. The manager also estimated the following manufacturing overhead costs for the year. Indirect labor $ 324,200 Factory supervision 355,000 Rent on factory building 145,000 Factory utilities 93,000 Factory insurance expired 73,000 Depreciation—Factory equipment 750,000 Repairs expense—Factory equipment 65,000 Factory supplies used 73,800 Miscellaneous production costs 41,000 Total...
In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 40 persons working an average of 3,000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for 2017 Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 336,200 276,000 157,000 105,000 85,000 625,000 77,000 85,800...
In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 40 persons working an average of 3,000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for 2017 Indirect labor $ 316, 200 Factory supervision 188,800 Rent on factory building 147,000 Factory utilities 95,000 Factory insurance expired 75, eee Depreciation-Factory equipment 521,000 Repairs expense-Factory equipment 67,000 Factory supplies used 75,800 Miscellaneous production costs 43,000 Total...
1 In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 50 persons working an average of 2,500 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for 2017 Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 333,200 128,000 154,000 102,000 82,000 494,000 74,000...
In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 55 persons working an average of 2.000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for 2017 Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 261,200 156,000 152, eee 1ee, eee se, eee...
In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 50 persons working an average of 2,000 hours each at an average wage rate of $25 per hour. The manager also estimated the following manufacturing overhead costs for 2017. Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 319,200 240,000 140,000 88,000 68,000 480,000 60,000 68,800...
In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 40 persons working an average of 2,000 hours each at an average wage rate of $30 per hour. The manager also estimated the following manufacturing overhead costs for 2017. Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Pactory supplies used Miscellaneous production costs Total estimated overhead coats $ 332,200 243,000 103,000 101,000 81,000 496,000 73,000 81,800...
At the beginning of the year, Learer Company's manager estimated total direct labor cost assuming 40 persons working an average of 2,500 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for the year. Indirect labor 320,200 111,000 141,000 89,000 69,000 402,000 61,000 Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs 69,800 37,000 $1,300,000 Total...
In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 40 persons working an average of 3,000 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for 2017 Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 336,200 276,000 157,000 105,000 85,000 625,000 77,000 85,800...
Quiz Saved In December 2016. Learer Company's manager estimated next year's total direct labor cost assuming 40 persons working an average of 2,000 hours each at an average wage rate of $25 per hour. The manager also estimated the following manufacturing overhead costs for 2017 Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation Factory equipment Repairs expense- Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 327,200 149,000 148,00 96,000...