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1. Ifyour business is expected to have annual revenue of $19,385,000, Direct Labor Costs of $6,950,000,...
If annual overhead costs are expected to be $730000 and direct labor costs are expected to...
If annual overhead costs are expected to be $730000 and direct
labor costs are expected to be $1000000, then if the activity base
is direct labor costs:
a predetermined overhead rate cannot be determined.
for every dollar of direct labor, 73.0 cents of manufacturing
overhead will be assigned.
$73.0 is the predetermined overhead rate.
for every dollar of manufacturing overhead, 1.4 cents of direct
labor will be assigned.
Rooftop Solar estimated the following annual costs: Expected annual direct labor hours 12,000 Expected annual direct...
Rooftop Solar estimated the following annual costs: Expected annual direct labor hours 12,000 Expected annual direct labor cost $198,000 Expected machine hours 10,400 Expected material cost for the year $65,000 Expected manufacturing overhead $218,400 Job 612 used $350 of direct materials, 26 direct labor hours, and 14 machine hours. Actual labor cost is $17 per hour. a. If Rooftop Solar allocates overhead based upon machine hours, how much is the overhead rate? b. Determine the cost of job 612.
Sales (500,000 units) Costs and expenses Direct materials Direct labor Overhead Selling expenses Administrative expenses Total...
Sales (500,000 units) Costs and expenses Direct materials Direct labor Overhead Selling expenses Administrative expenses Total costs and expenses Net income $7,500.888 1,000,000 2,000,000 see,eee 750.800 1,285.cee 5.535.000 $1,965,000 The company has an opportunity to sell 50,000 additional units at $13 per unit. The additional sales would not affect its current expected sales. Direct materials and labor costs per unit would be the same for the additional units as they are for the regular units. However, the additional volume would...
A company expected its annual overhead costs to be $900,000 and direct labor costs to be...
A company expected its annual overhead costs to be $900,000 and direct labor costs to be $1,000,000. Actual overhead was $870,000, and actual labor costs totaled $1,100,000. How much is the company's predetermined overhead rate to the nearest cent? $0.87 $0.82 $0.79 $0.90
A company expected its annual overhead costs to be $15,000 and direct labor costs to be...
A company expected its annual overhead costs to be $15,000 and direct labor costs to be $10,000. Actual overhead was $14,000, and actual labor costs totaled $11,000. Calculate predetermined overhead rate, amount of applied overhead and state whether it results in under applied or over applied.
A company expected its annual overhead costs to be $20,000 and direct labor hours to be...
A company expected its annual overhead costs to be $20,000 and direct labor hours to be 10,000. Actual overhead was $25,000, and actual labor hours totaled 12,000. Calculate predetermined overhead rate, amount of applied overhead and state whether it results in under applied or over applied.
A company expected its annual overhead costs to be $40,000 and direct labor hours to be...
A company expected its annual overhead costs to be $40,000 and direct labor hours to be 20,000. Actual overhead was $38,000, and actual labor hours totaled 18,000. Calculate predetermined overhead rate, amount of applied overhead and state whether it results in under applied or over applied.
3) Serena Company has budgeted the following costs for the production of its only product: Direct Materials $35,000 Dire...
3) Serena Company has budgeted the following costs for the production of its only product: Direct Materials $35,000 Direct Labor 25,000 Variable indirect production costs 30,000 Fixed indirect production costs 15,000 Variable selling and administrative costs 7,500 Fixed selling and administrative costs 12,500 Total Costs $125,000 Revenue is $200,000 Serena Company has a target profit of $50,000. What is the average target markup percentage for setting prices as a percentage of variable manufacturing costs? calculate the operating income using contribution...
15) Which of the following corred h e n ie for indirect labor com A) Indirect...
15) Which of the following corred h e n ie for indirect labor com A) Indirect labor costs are products and are a s incurred B) Indirect labor costs are period costs and are expenses incurred C) Indirect labor costs are period costs and are ned when the manufactured products D) Indirect labor costs are products and re d when the manufactured product is sold 16) Matthew's Fish Fry has a monthly target operating income of 57200 Variable expenses are...
Labels for part 1 Customer service costs Direct labor costs Direct labor hours Direct materials Inspection...
Labels for part 1
Customer service costs
Direct labor costs
Direct labor hours
Direct materials
Inspection hours
Number of batches
Number of customers
Number of machine hours
Number of modifications
Number of parts
Number of setups
Overhead costs
The following data are for the two products produced by Tadros Company. Direct materials Direct labor hours Machine hours Batches Volume Engineering modifications Number of customers Market price Product A $15 per unit 0.3 DLH per unit 0.2 MH per unit 115...
If annual overhead costs are expected to be $730000 and direct
labor costs are expected to be $1000000, then if the activity base
is direct labor costs:
a predetermined overhead rate cannot be determined.
for every dollar of direct labor, 73.0 cents of manufacturing
overhead will be assigned.
$73.0 is the predetermined overhead rate.
for every dollar of manufacturing overhead, 1.4 cents of direct
labor will be assigned.
Sales (500,000 units) Costs and expenses Direct materials Direct labor Overhead Selling expenses Administrative expenses Total costs and expenses Net income $7,500.888 1,000,000 2,000,000 see,eee 750.800 1,285.cee 5.535.000 $1,965,000 The company has an opportunity to sell 50,000 additional units at $13 per unit. The additional sales would not affect its current expected sales. Direct materials and labor costs per unit would be the same for the additional units as they are for the regular units. However, the additional volume would...
15) Which of the following corred h e n ie for indirect labor com A) Indirect labor costs are products and are a s incurred B) Indirect labor costs are period costs and are expenses incurred C) Indirect labor costs are period costs and are ned when the manufactured products D) Indirect labor costs are products and re d when the manufactured product is sold 16) Matthew's Fish Fry has a monthly target operating income of 57200 Variable expenses are...
Labels for part 1
Customer service costs
Direct labor costs
Direct labor hours
Direct materials
Inspection hours
Number of batches
Number of customers
Number of machine hours
Number of modifications
Number of parts
Number of setups
Overhead costs
The following data are for the two products produced by Tadros Company. Direct materials Direct labor hours Machine hours Batches Volume Engineering modifications Number of customers Market price Product A $15 per unit 0.3 DLH per unit 0.2 MH per unit 115...
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