Osborn Manufacturing
Osborn Manufacturing uses a predetermined overhead rate of $18.90 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $240,030 of total manufacturing overhead for an estimated activity level of 12,700 direct labor-hours.
The company actually incurred $237,000 of manufacturing overhead and 12,200 direct labor-hours during the period.
Required:
1. Determine the amount of underapplied or overapplied manufacturing overhead for the period.
2. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Would the journal entry to dispose of the underapplied or overapplied overhead increase or decrease the company’s gross margin? By how much?
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I ALWAYS THUMBS UP, THANKS Osborn Manufacturing uses a predetermined overhead rate of $18.90 per direct...
I
ALWAYS THUMBS UP, THANKS
Osborn Manufacturing uses a predetermined overhead rate of $18.90 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $240,030 of total manufacturing overhead for an estimated activity level of 12,700 direct labor-hours. The company incurred actual total manufacturing overhead costs of $237,000 and 12,200 total direct labor-hours during the period. Required: 1. Determine the amount of underapplied or overapplied manufacturing overhead for the period, Manufacturing overhead by 2. Assuming that...
Osborn Manufacturing uses a predetermined overhead rate of $19.40 per direct labor-hour. This predetermined rate was...
Osborn Manufacturing uses a predetermined overhead rate of $19.40 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $256,080 of total manufacturing overhead for an estimated activity level of 13,200 direct labor-hours. The company actually incurred $251,000 of manufacturing overhead and 12,700 direct labor-hours during the period. Required: 1. Determine the amount of underapplied or overapplied manufacturing overhead for the period. 2. Assume that the company's underapplied or overapplied overhead is closed to Cost of...
Osborn Manufacturing uses a predetermined overhead rate of $19.20 per direct labor-hour. This predetermined rate was...
Osborn Manufacturing uses a predetermined overhead rate of
$19.20 per direct labor-hour. This predetermined rate was based on
a cost formula that estimates $249,600 of total manufacturing
overhead for an estimated activity level of 13,000 direct
labor-hours. The company actually incurred $247,000 of
manufacturing overhead and 12,500 direct labor-hours during the
period. Required: 1. Determine the amount of underapplied or
overapplied manufacturing overhead for the period. 2. Assume that
the company's underapplied or overapplied overhead is closed to
Cost of...
Osborn Manufacturing uses a predetermined overhead rate of $19.40 per direct labor-hour. This predetermined rate was...
Osborn Manufacturing uses a predetermined overhead rate of $19.40 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $256,080 of total manufacturing overhead for an estimated activity level of 13,200 direct labor-hours. The company actually incurred $251,000 of manufacturing overhead and 12,700 direct labor-hours during the period. Required: 1. Determine the amount of underapplied or overapplied manufacturing overhead for the period. 2. Assume that the company's underapplied or overapplied overhead is closed to Cost of...
Osborn Manufacturing uses a predetermined overhead rate of $18.40 per direct labor-hour. This predetermined rate was...
Osborn Manufacturing uses a predetermined overhead rate of $18.40 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $224,480 of total manufacturing overhead for an estimated activity level of 12,200 direct labor-hours. The company actually incurred $219,000 of manufacturing overhead and 11700 direct labor-hours during the period. Required: 1. Determine the amount of underapplied or overapplied manufacturing overhead for the period. 2. Assume that the company's underapplied or overapplied overhead is closed to Cost of...
Osborn Manufacturing uses a predetermined overhead rate of $19.10 per direct labor-hour. This predetermined rate was...
Osborn Manufacturing uses a predetermined overhead rate of $19.10 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $246,390 of total manufacturing overhead for an estimated activity level of 12,900 direct labor-hours. The company actually incurred $245,000 of manufacturing overhead and 12,400 direct labor-hours during the period. Required: 1. Determine the amount of underapplied or overapplied manufacturing overhead for the period. 2. Assume that the company's underapplied or overapplied overhead is closed to Cost of...
Osborn Manufacturing uses a predetermined overhead rate of $19.70 per direct labor-hour. This predetermined rate was...
Osborn Manufacturing uses a predetermined overhead rate of $19.70 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $265,950 of total manufacturing overhead for an estimated activity level of 13,500 direct labor-hours. The company actually incurred $260,000 of manufacturing overhead and 13,000 direct labor-hours during the period. Required: 1. Determine the amount of underapplied or overapplied manufacturing overhead for the period. 2. Assume that the company's underapplied or overapplied overhead is closed to Cost of...
Osborn Manufacturing uses a predetermined overhead rate of $18.80 per direct labor-hour. This predetermined rate was...
Osborn Manufacturing uses a predetermined overhead rate of $18.80 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $236,880 of total manufacturing overhead for an estimated activity level of 12,600 direct labor-hours. The company actually incurred $233,000 of manufacturing overhead and 12,100 direct labor-hours during the period. Required: 1. Determine the amount of underapplied or overapplied manufacturing overhead for the period. 2. Assume that the company's underapplied or overapplied overhead is closed to Cost of...
Osborn Manufacturing uses a predetermined overhead rate of $19.00 per direct labor-hour. This predetermined rate was...
Osborn Manufacturing uses a predetermined overhead rate of
$19.00 per direct labor-hour. This predetermined rate was based on
a cost formula that estimates $243,200 of total manufacturing
overhead for an estimated activity level of 12,800 direct
labor-hours.
The company actually incurred $241,000 of manufacturing overhead
and 12,300 direct labor-hours during the period.
Required:
1. Determine the amount of underapplied or overapplied
manufacturing overhead for the period.
2. Assume that the company's underapplied or overapplied
overhead is closed to Cost of...
Osborn Manufacturing uses a predetermined overhead rate of $18.20 per direct labor-hour.
Osborn Manufacturing uses a predetermined overhead rate of $18.20 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $218,400 of total manufacturing overhead for an estimated activity level of 12,000 direct labor-hours. The company actually incurred $215,000 of manufacturing overhead and 11,500 direct labor-hours during the period. Required: 1. Determine the amount of underapplied or overapplied manufacturing overhead for the period. 2. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Would...
I
ALWAYS THUMBS UP, THANKS
Osborn Manufacturing uses a predetermined overhead rate of $18.90 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $240,030 of total manufacturing overhead for an estimated activity level of 12,700 direct labor-hours. The company incurred actual total manufacturing overhead costs of $237,000 and 12,200 total direct labor-hours during the period. Required: 1. Determine the amount of underapplied or overapplied manufacturing overhead for the period, Manufacturing overhead by 2. Assuming that...
Osborn Manufacturing uses a predetermined overhead rate of
$19.20 per direct labor-hour. This predetermined rate was based on
a cost formula that estimates $249,600 of total manufacturing
overhead for an estimated activity level of 13,000 direct
labor-hours. The company actually incurred $247,000 of
manufacturing overhead and 12,500 direct labor-hours during the
period. Required: 1. Determine the amount of underapplied or
overapplied manufacturing overhead for the period. 2. Assume that
the company's underapplied or overapplied overhead is closed to
Cost of...
Osborn Manufacturing uses a predetermined overhead rate of $19.40 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $256,080 of total manufacturing overhead for an estimated activity level of 13,200 direct labor-hours. The company actually incurred $251,000 of manufacturing overhead and 12,700 direct labor-hours during the period. Required: 1. Determine the amount of underapplied or overapplied manufacturing overhead for the period. 2. Assume that the company's underapplied or overapplied overhead is closed to Cost of...
Osborn Manufacturing uses a predetermined overhead rate of $18.40 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $224,480 of total manufacturing overhead for an estimated activity level of 12,200 direct labor-hours. The company actually incurred $219,000 of manufacturing overhead and 11700 direct labor-hours during the period. Required: 1. Determine the amount of underapplied or overapplied manufacturing overhead for the period. 2. Assume that the company's underapplied or overapplied overhead is closed to Cost of...
Osborn Manufacturing uses a predetermined overhead rate of
$19.00 per direct labor-hour. This predetermined rate was based on
a cost formula that estimates $243,200 of total manufacturing
overhead for an estimated activity level of 12,800 direct
labor-hours.
The company actually incurred $241,000 of manufacturing overhead
and 12,300 direct labor-hours during the period.
Required:
1. Determine the amount of underapplied or overapplied
manufacturing overhead for the period.
2. Assume that the company's underapplied or overapplied
overhead is closed to Cost of...
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