Homework Answers
Correct answer---------(c) $18.59
| (A) | Estimated Overheads | $ 1,74,700.00 |
| (B) | Estimated Direct labor hours | 9400 |
| C= (A/B) | Predetermined Overhead rate | $ 18.59 |
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Calculator Aspen Technologies has the following budget data: Estimated direct labor hours Estimated direct labor dollars...
Aspen Technologies has the following budget data: Estimated direct labor hours 15,000 Actual direct labor 12,000...
Aspen Technologies has the following budget data: Estimated direct labor hours 15,000 Actual direct labor 12,000 hours Estimated direct labor dollars $90,000 Estimated factory overhead costs $198.000 If manufacturing overhead is to be applied based on direct labor hours, the predetermined overhead rate is:
A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the...
A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $339,900 and direct labor hours would be 47,500. Actual manufacturing overhead costs incurred were $300,300, and actual direct labor hours were 54,800. The journal entry to apply the factory overhead costs for the year would include a On credit to Factory Overhead for 5394,012 Ob debit to Factory Overhead for $300,300 c. debt to Factory...
Victryl Company applies overhead based on direct labor hours. At the beginning of the year, Victryl...
Victryl Company applies overhead based on direct labor hours. At the beginning of the year, Victryl estimates overhead to be $700,000, machine hours to be 200,000, and direct labor hours to be 35,000. During February, Victryl has 5,000 direct labor hours and 10,000 machine hours. If the actual overhead for February is $98,300, what is the overhead variance, and is it overapplied or underapplied? a. $1200 underapplied Ob. $1,000 underapplied Oc. $600 overapplied Od, $800 overapplied e. $1,700 overapplied Ned...
Here are selected basic data for Wilson Company: Estimated manufacturing overhead Estimated labor hours Actual direct...
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Calculator When Job 117 was completed, direct materials totaled $13,328; direct labor, $20,222; and factory overhead,...
Calculator When Job 117 was completed, direct materials totaled $13,328; direct labor, $20,222; and factory overhead, $12,410. A total of 1,915 units were produced at a per-unit cost of Oa. $1,915 Ob $45.960 Oc. $33,550 Od $24 Direct labor and direct materials are Oa. period costs and expensed when incurred Ob. product costs and expensed when incurred Oc: period costs and expensed when the goods are sold Od product costs and expensed when the goods are sold
Actual and estimated data for manufacturing overhead, direct labor cost, direct labor hours, and machine hours...
Actual and estimated data for manufacturing overhead, direct labor cost, direct labor hours, and machine hours for the most recent fiscal year are summarized here: Manufacturing overhead cost Direct labor cost Direct labor hours Machine hours Estimated Value $ 599,000 $ 401.000 17,000 hours 8.000 hours Actual Value $ 660.000 $ 455,000 18.500 hours 9.000 hours Required: 1. Based on the company's current allocation base (direct labor hours), compute the following: a. Predetermined overhead rate. (Round your answer to 2...
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Data section Manufacturing overhead cost Direct labor cost Direct labor hours Machine hours Estimated value Actual...
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1) 2) 3) 4) 5) The Botosan Factory has determined that its budgeted factory overhead budget...
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2)
3)
4)
5)
The Botosan Factory has determined that its budgeted factory overhead budget for the year is $615,420 and budgeted direct labor hours are 473,400. If the actual direct labor hours for the period are 430,800, how much overhead would be allocated to the period? Oa, $576,841 Ob. $560,040 Oc. $476,034 Od. $677,648 Blue Ridge Marketing Inc. manufactures two products, A and B. Presently, the company uses a single plantwide factory overhead rate for allocating overhead to...
Which of the following mathematical equations is used to calculate a predetermined overhead rate? Oa. Predetermined...
Which of the following mathematical equations is used to calculate a predetermined overhead rate? Oa. Predetermined Overhead Rate - Estimated Annual Manufacturing Cost /Estimated Quarterly Activity Level Ob. Predetermined Overhead Rate - Estimated Annual Overhead / Actual Annual Activity Level Oc. Predetermined Overhead Rate Actual Annual Overhead / Actual Annual Activity Level Od. Predetermined Overhead Rate Estimated Annual Overhead/ Estimated Annual Activity Level e. Predetermined Overhead Rate Actual Annual Cost of Goods Sold /Estimated Semi-annual Labor Hours John has applied...
Aspen Technologies has the following budget data: Estimated direct labor hours 15,000 Actual direct labor 12,000 hours Estimated direct labor dollars $90,000 Estimated factory overhead costs $198.000 If manufacturing overhead is to be applied based on direct labor hours, the predetermined overhead rate is:
A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $339,900 and direct labor hours would be 47,500. Actual manufacturing overhead costs incurred were $300,300, and actual direct labor hours were 54,800. The journal entry to apply the factory overhead costs for the year would include a On credit to Factory Overhead for 5394,012 Ob debit to Factory Overhead for $300,300 c. debt to Factory...
Victryl Company applies overhead based on direct labor hours. At the beginning of the year, Victryl estimates overhead to be $700,000, machine hours to be 200,000, and direct labor hours to be 35,000. During February, Victryl has 5,000 direct labor hours and 10,000 machine hours. If the actual overhead for February is $98,300, what is the overhead variance, and is it overapplied or underapplied? a. $1200 underapplied Ob. $1,000 underapplied Oc. $600 overapplied Od, $800 overapplied e. $1,700 overapplied Ned...
Here are selected basic data for Wilson Company: Estimated manufacturing overhead Estimated labor hours Actual direct labor hours Estimated direct labor cost Actual direct labor cost Factory depreciation $243,750 35,000 36,000 $325,000 $320,000 $66,300 Factory utilities Indirect labor Sales commissions Factory rent Factory property taxes Indirect materials $30,400 $22,800 $54,300 $47,800 $29,100 $33,300 If the company allocates overhead based on direct labor cost, what are the total actual manufacturing overhead costs? O A. $284,000 OB. $261,200 OC. $173,600 OD. $229,700...
Calculator When Job 117 was completed, direct materials totaled $13,328; direct labor, $20,222; and factory overhead, $12,410. A total of 1,915 units were produced at a per-unit cost of Oa. $1,915 Ob $45.960 Oc. $33,550 Od $24 Direct labor and direct materials are Oa. period costs and expensed when incurred Ob. product costs and expensed when incurred Oc: period costs and expensed when the goods are sold Od product costs and expensed when the goods are sold
Actual and estimated data for manufacturing overhead, direct labor cost, direct labor hours, and machine hours for the most recent fiscal year are summarized here: Manufacturing overhead cost Direct labor cost Direct labor hours Machine hours Estimated Value $ 599,000 $ 401.000 17,000 hours 8.000 hours Actual Value $ 660.000 $ 455,000 18.500 hours 9.000 hours Required: 1. Based on the company's current allocation base (direct labor hours), compute the following: a. Predetermined overhead rate. (Round your answer to 2...
Nadal Company is debating the use of direct labor cost or direct labor hours as the cost allocation base for allocating manufacturing overhead. The following information is available for the most recent year: Actual direct labor hours Estimated direct labor hours Actual manufacturing overhead costs Estimated manufacturing overhead costs Actual direct labor cost Estimated direct labor cost 232,500 250,300 $363,500 $401,900 $465,800 $500,700 If Nadal Company uses direct labor cost as the allocation base, what would the predetermined manufacturing overhead...
Data section Manufacturing overhead cost Direct labor cost Direct labor hours Machine hours Estimated value Actual value 594,000 $ 396,000 $ 16,500 7,500 655,000 450,000 18,000 8,500 Requirement 1: Predetermined overhead rate Formula Manufacturing overhead cost/ direct labor hours Answer Applied manufacturing overhead: Formula Answer Under or over applied? Dollar amount? Requirement 2: Predetermined overhead rate Formula Answer Carry answer out to two decimal places Applied manufactring overhead Formula Answer Under or over applied? Dollar amount? Requirement 3: Predetermined overhead...
1)
2)
3)
4)
5)
The Botosan Factory has determined that its budgeted factory overhead budget for the year is $615,420 and budgeted direct labor hours are 473,400. If the actual direct labor hours for the period are 430,800, how much overhead would be allocated to the period? Oa, $576,841 Ob. $560,040 Oc. $476,034 Od. $677,648 Blue Ridge Marketing Inc. manufactures two products, A and B. Presently, the company uses a single plantwide factory overhead rate for allocating overhead to...
Which of the following mathematical equations is used to calculate a predetermined overhead rate? Oa. Predetermined Overhead Rate - Estimated Annual Manufacturing Cost /Estimated Quarterly Activity Level Ob. Predetermined Overhead Rate - Estimated Annual Overhead / Actual Annual Activity Level Oc. Predetermined Overhead Rate Actual Annual Overhead / Actual Annual Activity Level Od. Predetermined Overhead Rate Estimated Annual Overhead/ Estimated Annual Activity Level e. Predetermined Overhead Rate Actual Annual Cost of Goods Sold /Estimated Semi-annual Labor Hours John has applied...
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