Accounting Allocation Problem
The company also estimated that total direct labor hours for the year would be 5,900, and total machine hours would be 61,000.
The company finished Product A in June. It required 649 direct labor hours at a cost of $17,700. It also required 4,270 machine hours.
If X Company uses a plantwide system to allocate overhead costs, with machine hours as the cost driver, how much overhead was allocated to Product A [round overhead rate(s) to two decimal places]?
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Manufacturing Overhead Allocation Rate
Andrews Company manufactures blenders, offering its customers two model options – a basic model and a deluxe model. Each model of blender goes through the same two-step production process – it is assembled in the Assembly Department and packaged for sale in the Packaging Department. For the month that is about begin, Andrews Company is estimating manufacturing overhead costs of $680,000 in the Assembly Department and $270,000 in the Packaging Department. The company also estimates the following usage of direct...
Question 11 EcoFabrics has budgeted overhead costs of $1,096,200. It has allocated overhead on a plantwide...
Question 11 EcoFabrics has budgeted overhead costs of $1,096,200. It has allocated overhead on a plantwide basis to its two products (wool and cotton) using direct labor hours which are estimated to be 522,000 for the current year. The company has decided to experiment with activity-based costing and has created two activity cost pools and related activity cost drivers. These two cost pools are cutting (cost driver is machine hours and design (cost driver is number of setups). Overhead allocated...
All one problem, just two pictures to fit it. Mason Company has two manufacturing departments -...
All one problem, just two pictures to fit it.
Mason Company has two manufacturing departments - Machining and Assembly. The company considers all of its manufacturing overhead costs to be fixed costs. It provided the following estimates at the beginning of the year as well as the following information with respect to Jobs A and B: Estimated Data Manufacturing overhead Direct labor-hours Machine-hours Machining $1,000,000 12,000 84,000 Assembly $ 144,000 84,000 7,000 Total $1,152,000 96,000 91,000 Job A Direct labor-hours...
Exercise 2-1 Compute a Predetermined Overhead Rate [LO2-1] Harris Fabrics computes its plantwide predetermined overhead rate...
Exercise 2-1 Compute a Predetermined Overhead Rate [LO2-1] Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 20,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $94,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $123.900 and its...
also, Calculate the overhead rates using the traditional approach. Overhead Rates using the traditional approach is....
also, Calculate the overhead rates using the
traditional approach.
Overhead Rates using the traditional approach is.
______$___________ per direct labor hour
What amount of overhead would be allocated to the wool
and cotton product lines using the traditional approach, assuming
direct labor hours were incurred evenly between the wool and
cotton?
Overhead Allocated. for Wool Product Line is
=____$_____
Overhead Allocated. for Cotton Product Line is
=____$______
EcoFabrics has budgeted overhead costs of $1,105,650. It has allocated overhead on...
Quality Furniture,Inc., produces a wood desk that sells for $500 and a wood table that sells for ...
Quality Furniture,Inc., produces a wood desk that sells for $500
and a wood table that sells for $900. Last year, total overhead
costs of $6,000,000 were allocated based on direct labor costs.
Direct labor costs totaled $2,000,000 last year, and Quality
Furniture produced 15,000 desks and 5,000 tables. Total direct
labor and direct materials costs by product for the last year were
as follows:
Desk
Table
Total
Direct materials
1,575,000
950,000
Direct labor
1,200,000
800,000
2,000,000
Sales price
500
900...
41. Activity-Based Costing Versus Traditional Approach, Activity-Based Management. Fine Finishing, Inc, produces a wood desk that...
41. Activity-Based Costing Versus Traditional Approach, Activity-Based Management. Fine Finishing, Inc, produces a wood desk that sells for $500 and a wood table that sells for $900. Last year, total overhead costs of $6,000,000 were allocated based on direct labor costs. Direct labor costs totaled $2,000,000 last year, and the company produced 15,000 desks and 5,000 tables. Total direct labor and direct materials costs by product for last year were as follows: Desk Table Direct materials $1,575,000 $950,000 Direct labor...
X Company, a manufacturer, uses a plantwide overhead allocation system with direct labor hours as the...
X Company, a manufacturer, uses a plantwide overhead allocation system with direct labor hours as the cost driver. The following is budgeted total cost and activity information in 2018: Direct $426,923 materials Direct labor $523,585 Overhead $555,000 Research & development $100,000 Advertising $59,000 Direct labor 26,056 hours The following information is taken from the job cost sheet for Job A in 2018: Direct Materials Total $45,765 Direct Direct Labor Labor Overhead Hours $85,500 689 ?? How much overhead was allocated...
Hello! Number 12 is the question that I need assists with.. Required information [The following information...
Hello! Number 12 is the question that I need assists with..
Required information [The following information applies to the questions displayed below.) Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The company has two manufacturing departments--Molding and Fabrication. It started, completed, and sold only two jobs during March-Job P and Job Q. The following additional information is available for the company as a whole and for Jobs P and Q (all data...
Problem 3-21 (Algo) Plantwide Versus Multiple Predetermined Overhead Rates (LO3-1, LO3-2] Mason Company has two manufacturing...
Problem 3-21 (Algo) Plantwide Versus Multiple Predetermined Overhead Rates (LO3-1, LO3-2] Mason Company has two manufacturing departments-Machining and Assembly. The company considers all of its manufacturing overhead costs to be fixed costs. It provided the following estimates at the beginning of the year as well as the following Information with respect to Jobs A and B: $ Estimated Data Manufacturing overhead Direct labor hours Machine hours Machining $ 1,008,000 12,000 84,000 Assembly 144,000 84,000 7,000 Total $1,152,000 96,000 91,000 Machining...
Question 11 EcoFabrics has budgeted overhead costs of $1,096,200. It has allocated overhead on a plantwide basis to its two products (wool and cotton) using direct labor hours which are estimated to be 522,000 for the current year. The company has decided to experiment with activity-based costing and has created two activity cost pools and related activity cost drivers. These two cost pools are cutting (cost driver is machine hours and design (cost driver is number of setups). Overhead allocated...
All one problem, just two pictures to fit it.
Mason Company has two manufacturing departments - Machining and Assembly. The company considers all of its manufacturing overhead costs to be fixed costs. It provided the following estimates at the beginning of the year as well as the following information with respect to Jobs A and B: Estimated Data Manufacturing overhead Direct labor-hours Machine-hours Machining $1,000,000 12,000 84,000 Assembly $ 144,000 84,000 7,000 Total $1,152,000 96,000 91,000 Job A Direct labor-hours...
Exercise 2-1 Compute a Predetermined Overhead Rate [LO2-1] Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 20,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $94,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $123.900 and its...
also, Calculate the overhead rates using the
traditional approach.
Overhead Rates using the traditional approach is.
______$___________ per direct labor hour
What amount of overhead would be allocated to the wool
and cotton product lines using the traditional approach, assuming
direct labor hours were incurred evenly between the wool and
cotton?
Overhead Allocated. for Wool Product Line is
=____$_____
Overhead Allocated. for Cotton Product Line is
=____$______
EcoFabrics has budgeted overhead costs of $1,105,650. It has allocated overhead on...
Quality Furniture,Inc., produces a wood desk that sells for $500
and a wood table that sells for $900. Last year, total overhead
costs of $6,000,000 were allocated based on direct labor costs.
Direct labor costs totaled $2,000,000 last year, and Quality
Furniture produced 15,000 desks and 5,000 tables. Total direct
labor and direct materials costs by product for the last year were
as follows:
Desk
Table
Total
Direct materials
1,575,000
950,000
Direct labor
1,200,000
800,000
2,000,000
Sales price
500
900...
41. Activity-Based Costing Versus Traditional Approach, Activity-Based Management. Fine Finishing, Inc, produces a wood desk that sells for $500 and a wood table that sells for $900. Last year, total overhead costs of $6,000,000 were allocated based on direct labor costs. Direct labor costs totaled $2,000,000 last year, and the company produced 15,000 desks and 5,000 tables. Total direct labor and direct materials costs by product for last year were as follows: Desk Table Direct materials $1,575,000 $950,000 Direct labor...
X Company, a manufacturer, uses a plantwide overhead allocation system with direct labor hours as the cost driver. The following is budgeted total cost and activity information in 2018: Direct $426,923 materials Direct labor $523,585 Overhead $555,000 Research & development $100,000 Advertising $59,000 Direct labor 26,056 hours The following information is taken from the job cost sheet for Job A in 2018: Direct Materials Total $45,765 Direct Direct Labor Labor Overhead Hours $85,500 689 ?? How much overhead was allocated...
Hello! Number 12 is the question that I need assists with..
Required information [The following information applies to the questions displayed below.) Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The company has two manufacturing departments--Molding and Fabrication. It started, completed, and sold only two jobs during March-Job P and Job Q. The following additional information is available for the company as a whole and for Jobs P and Q (all data...
Problem 3-21 (Algo) Plantwide Versus Multiple Predetermined Overhead Rates (LO3-1, LO3-2] Mason Company has two manufacturing departments-Machining and Assembly. The company considers all of its manufacturing overhead costs to be fixed costs. It provided the following estimates at the beginning of the year as well as the following Information with respect to Jobs A and B: $ Estimated Data Manufacturing overhead Direct labor hours Machine hours Machining $ 1,008,000 12,000 84,000 Assembly 144,000 84,000 7,000 Total $1,152,000 96,000 91,000 Machining...
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