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Aspen Technologies has the following budget data: Estimated direct labor hours 15,000 Actual direct labor 12,000...
Calculator Aspen Technologies has the following budget data: Estimated direct labor hours Estimated direct labor dollars...
Calculator Aspen Technologies has the following budget data: Estimated direct labor hours Estimated direct labor dollars Estimated factory overhead costs If factory overhead is to be applied based on direct labor hours, the predetermined overhead rate is Oa. $14.87 Ob. $22.30 Oc. $18.59 Od. $27.88 9,400 $59,500 $174,700 All work saved
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...
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...
Data section Manufacturing overhead cost Direct labor cost Direct labor hours Machine hours Estimated value Actual...
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...
Here are selected basic data for Wilson Company: Estimated manufacturing overhead Estimated labor hours Actual direct...
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...
Aspen Company estimated its manufacturing overhead to be $1,073,000 and its direct labor costs to be...
Aspen Company estimated its manufacturing overhead to be $1,073,000 and its direct labor costs to be $580,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $176,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $301,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $126,000. Actual...
Amy Corporation, which applies manufacturing overhead on the basis of direct labor hours, has provided the...
Amy Corporation, which applies manufacturing overhead on the basis of direct labor hours, has provided the following data for its most recent year of operations. Estimated manufacturing overhead Estimated direct labor hours Actual manufacturing overhead Actual direct labor hours $80,080 1,100 $76,800 1,060 The estimates of the manufacturing overhead and of direct labor hours were made at the beginning of the year. The applied manufacturing overhead for the year is closest to Multiple Choke $75,089 0 $77,168 576.800 $76.450 Magnolia...
Martin Company applies manufacturing overhead based on direct machine hours. Martin estimates manufacturing overhead and labor...
Martin Company applies manufacturing overhead based on direct machine hours. Martin estimates manufacturing overhead and labor for the year follows: Estimated manufacturing overhead $120,000 Direct labor hours estimated 5,000 Estimated direct labor costs $50,000 Estimated machine hours 6,000 Assuming the actual manufacturing overhead cost and the actual activities for Job 201 is as follows: Actual manufacturing overhead $ 12,000 Direct labor hours actual incurred 300 Actual direct labor costs totaled $ 9,800 Actual machine hours totaled 400 Instructions (a) Compute...
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.
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 $482,910 and direct labor hours would be 48,291. Actual factory overhead costs incurred were $520,224, and actual direct labor hours were 54,190. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year? a. $58,990 underapplied b. $21,676 overapplied c. $541,900 overapplied d. $21,676 underapplied A manufacturing company applies factory...
Calculator Aspen Technologies has the following budget data: Estimated direct labor hours Estimated direct labor dollars Estimated factory overhead costs If factory overhead is to be applied based on direct labor hours, the predetermined overhead rate is Oa. $14.87 Ob. $22.30 Oc. $18.59 Od. $27.88 9,400 $59,500 $174,700 All work saved
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...
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...
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...
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...
Amy Corporation, which applies manufacturing overhead on the basis of direct labor hours, has provided the following data for its most recent year of operations. Estimated manufacturing overhead Estimated direct labor hours Actual manufacturing overhead Actual direct labor hours $80,080 1,100 $76,800 1,060 The estimates of the manufacturing overhead and of direct labor hours were made at the beginning of the year. The applied manufacturing overhead for the year is closest to Multiple Choke $75,089 0 $77,168 576.800 $76.450 Magnolia...
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