Answer)
Calculation of total overheads applied to production
Total overheads applied to production = Actual machine hours consumed X Predetermined overhead rate per machine hour
= 16,000 machine hours X $ 24 per machine hour
= $ 384,000
Therefore total overheads applied to production are $ 384,000.
Working Note:
Calculation of predetermined overhead rate
Predetermined overhead rate = Budgeted manufacturing overhead/ Budgeted machine hours
= $ 480,000/ 20,000 machine hours
= $ 24 per machine hour
Therefore predetermined overhead rate is $ 24 per machine hour.
22. Huxtable charges manufacturing overhead to products by using a predetermined application rate, computed on the...
22. Huxtable charges manufacturing overhead to products by using a predetermined application rate, computed on the basis of machine hours. The following data pertain to the current year: Budgeted manufacturing overhead: $480,000 Actual manufacturing overhead: $440,000 Budgeted machine hours: 20,000 Actual machine hours: 16,000 Overhead applied to production totaled: * (3 Points) some other amount $550.000 $600,000 $352.000 $384.000 73 Simone uses a predetermined overhead application rate of $8 per direct labor hour. A review of
22. Huxtable charges manufacturing overhead to products by using a predetermined application rate, computed on the basis of machine hours. The following data pertain to the current year: Budgeted manufacturing overhead: $480,000 Actual manufacturing overhead: $440,000 Budgeted machine hours: 20,000 Actual machine hours: 16,000 Overhead applied to production totaled: * (3 Points) some other amount $550.000 $600,000 $352.000 $384.000 73 Simone uses a predetermined overhead application rate of $8 per direct labor hour. A review of
Blakely charges manufacturing overhead to products by using a predetermined application rate, computed on the basis of machine hours. The following data pertain to the current year: Budgeted manufacturing overhead: $392,000 Actual manufacturing overhead: $315,000 Budgeted machine hours: 14,000 Actual machine hours: 10,000 Overhead applied to production totaled: Multiple Choice 0 $225,000 O $280,000 0 $441,000. 0 $548,800. 0 None of these choices are correct.
4. LL Co charges manufacturing overhead to products by using a predetermined application rate, computed on the basis of labor hours. The following data pertain to the current year: Budgeted manufacturing overhead: $1,080,000 Actual manufacturing overhead: $945,000 Budgeted labor hours: 45,000 Actual labor hours: 31,500 Is manufacturing overhead overapplied or underapplied at year-end?
Simone uses a predetermined overhead application rate of $8 per direct labor hour. A review of the company's accounting records for the year just ended discovered the following: Underapplied manufacturing overhead: $7,200 Actual manufacturing overhead: $392,000 Budgeted labor hours: 50,000 Simone's actual labor hours worked totaled: cannot be determined based on the information presented. a.50,900 b.48,100 c.49,100 d.49,900
14 Farrina Manufacturing uses a predetermined overhead application rate of $8 per direct labor hour. A review of the company's accounting records for the year just ended discovered the following: Underapplied manufacturing overhead: $7,200 Actual manufacturing overhead: $392,000 Budgeted labor hours: 50,000 Simone's actual labor hours worked totaled: 01. O 48,100. 02. O cannot be determined based on the information presented. 03. 49,900. 04. 50,900. 05. O 49,100.
Alternate problem E Sullivan Company applied overhead to production using a predetermined overhead rate based on machine-hours. Budgeted data is: Budgeted machine-hours 75,000 Budgeted manufacturing overhead $870,000 a. Compute the predetermined overhead rate. b. Assume actual manufacturing overhead amounted to $997,500, and 86,000 machine-hours were used. Compute the amount of underapplied or overapplied manufacturing overhead and prepare the journal entry to transfer underapplied or overapplied overhead to Cost of Goods Sold.
ILLINOIS CORPORATION …….. produces two products and uses a predetermined overhead rate to apply overhead. The company currently applies overhead using a plantwide rate based on direct labor hours. Consideration is being given to the use of departmental overhead rates where overhead would be applied on the basis of direct labor hours in Department 1 and on the basis of machine hours in Department 2. At the beginning of the year, the following estimates are provided: Department 1 Department 2...
Please show work. Thank you. Group Problem 1 Predetermined Overhead Rate; Application of Overhead; Variances; Journal Entries Harris Company uses a normal job-order costing system. Budgeted overhead for the coming year is $600,000. Expected actual activity is 200,000 direct labor hours. During the year, Harris worked a total of 190,000 direct labor hours and actual overhead totaled $562,000. REQUIRED 1. Compute the predetermined overhead rate for Harris Company. 2. How much overhead will the company assign to the work in...
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