An equipment repairer estimates overhead for the year at $175,000; estimates labor for the year as 6,000 hours. Prepare the following journal entries:
An equipment repairer estimates overhead for the year at $175,000; estimates labor for the year as 6,000 hours. Prepare the following journal entries:
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An equipment repairer estimates overhead for the year at $175,000; estimates labor for the year as 6,000 hours. Prepare the following journal entries:
An equipment repairer estimates overhead for the year at $175,000; estimates labor for the year as 6,000 hours. Prepare the following journal entries:
a. Purchased materials on account, $126,000b. Traced materials to repair jobs $110,880c. Labor traced to repair jobs $165,000d. Overhead incurred (indirect labor): $171,300.e. Overhead is applied to repair jobs based on labor hours. Actual labor hours were 5,500.f. Ending work-in-process consisted of one repair job with a cost of $1,976. There was no beginning work-in-process.g. Write-off the over- or underapplied overhead to the cost of repair jobs at the end of the year
Bergan Company estimates that total factory overhead costs will be $620,000 for the year. Direct labor...
Bergan Company estimates that total factory overhead costs will be $620,000 for the year. Direct labor hours are estimated to be 80,000. Required: a. For Bergan Company, determine the predetermined factory overhead rate using direct labor hours as the activity base. If required, round your answer to two decimal places. b. During May, Bergan Company accumulated 2,500 hours of direct labor costs on Job 200 and 3,000 hours on Job 305. Determine the amount of factory overhead applied to Jobs...
3. Eric Corporation bases its predetermined overhead rate on the estimated labor-hours for the year. Dute...
3. Eric Corporation bases its predetermined overhead rate on the estimated labor-hours for the year. Dute for the most recently completed year appear below: 25,000 59 per labor-hour $300,000 Estimates made at the beginning of the year Estimated Labor-hours Estimated variable manufacturing overhead Estimated to al fixed manufacturing overhead Actual labor-hours for the year: 24,500 (a) Compute the company's predetermined overhead rate for the year (5 points). (b) If total manufacturing overhead for the year was underapplied for $6,000, prepare...
Sheffield Company estimates that 337,700 direct labor hours will be worked during the coming year, 2020, in the Packaging Department. On this basis, the following budgeted manufacturing overhead cost data are computed for the year.
Sheffield Company estimates that 337,700 direct labor hours will be worked during the coming year, 2020, in the Packaging Department. On this basis, the following budgeted manufacturing overhead cost data are computed for the year.Fixed Overhead CostsVariable Overhead CostsSupervision$88,200Indirect labor$155,342Depreciation72,000Indirect materials74,294Insurance29,760Repairs67,540Rent24,360Utilities67,540Property taxes13,080Lubricants16,885$227,400$381,601It is estimated that direct labor hours worked each month will range from 21,500 to 29,600 hours.During October, 21,500 direct labor hours were worked and the following overhead costs were incurred.Fixed overhead costs: Supervision $7,350, Depreciation $6,000, Insurance $2,450, Rent $2,030, and Property taxes $1,090.Variable overhead costs: Indirect...
Cavy Company estimates that total factory overhead costs will be $613,664 for the year. Direct labor...
Cavy Company estimates that total factory overhead costs will be $613,664 for the year. Direct labor hours are estimated to be 101,600. a. Determine the predetermined factory overhead rate. Round your answer to the nearest cent. $ b. Determine the amount of factory overhead applied to Job 345 if the amount of direct labor hours is 1,200 and Job 777 if the amount of direct labor hours is 3,200. Job 345 Job 777 C. Prepare the journal entry to apply...
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...
Salinger Company estimates that total factory overhead costs will be $115,000 for the year. Direct labor...
Salinger Company estimates that total factory overhead costs will be $115,000 for the year. Direct labor hours are estimated to be 23,000. a. For Salinger Company, determine the predetermined factory overhead rate using direct labor hours as the activity base. If required, round your answer to two decimal places. $ per direct labor hour b. During April, Salinger Company accumulated 650 hours of direct labor costs on Job 50 and 500 hours on Job 51. Determine the amount of factory...
Keenan Company estimates that total factory overhead costs will be $120,000 for the year. Direct labor...
Keenan Company estimates that total factory overhead costs will be $120,000 for the year. Direct labor hours are estimated to be 30,000. a. For Keenan Company, determine the predetermined factory overhead rate using direct labor hours as the activity base. If required, round your answer to two decimal places. per direct labor hour b. During August, Keenan Company accumulated 860 hours of direct labor costs on Job 40 and 560 hours on Job 42. Determine the amount of factory overhead...
Almerinda Company estimates that total factory overhead costs will be $2,124,000 for the year. Direct labor...
Almerinda Company estimates that total factory overhead costs will be $2,124,000 for the year. Direct labor hours are estimated to be 531,000. Required: A. For Almerinda Company, determine the predetermined factory overhead rate using direct labor hours as the activity base. B. During April, Almerinda Company accumulated 18,400 hours of direct labor costs on Job 50 and 23,200 hours on Job 51. Determine the amount of factory overhead applied to Jobs 50 and 51 in April. C. Prepare the journal...
Cavy Company estimates that total factory overhead costs will be $583,412 for the year. Direct labor...
Cavy Company estimates that total factory overhead costs will be $583,412 for the year. Direct labor hours are estimated to be 92.900. a. Determine the predetermined factory overhead rate Round your answer to the nearest cent. b. Determine the amount of factory overhead applied to Job 456 the amount of direct labor hours is 1.400 and Jobs the amount of direct labor Theuns 3,300 . Job 456 Job c. Prepare the journal entry to apply factory overhead for ording to...
Bergan Company estimates that total factory overhead costs will be $620,000 for the year. Direct labor hours are estimated to be 80,000. Required: a. For Bergan Company, determine the predetermined factory overhead rate using direct labor hours as the activity base. If required, round your answer to two decimal places. b. During May, Bergan Company accumulated 2,500 hours of direct labor costs on Job 200 and 3,000 hours on Job 305. Determine the amount of factory overhead applied to Jobs...
3. Eric Corporation bases its predetermined overhead rate on the estimated labor-hours for the year. Dute for the most recently completed year appear below: 25,000 59 per labor-hour $300,000 Estimates made at the beginning of the year Estimated Labor-hours Estimated variable manufacturing overhead Estimated to al fixed manufacturing overhead Actual labor-hours for the year: 24,500 (a) Compute the company's predetermined overhead rate for the year (5 points). (b) If total manufacturing overhead for the year was underapplied for $6,000, prepare...
Cavy Company estimates that total factory overhead costs will be $613,664 for the year. Direct labor hours are estimated to be 101,600. a. Determine the predetermined factory overhead rate. Round your answer to the nearest cent. $ b. Determine the amount of factory overhead applied to Job 345 if the amount of direct labor hours is 1,200 and Job 777 if the amount of direct labor hours is 3,200. Job 345 Job 777 C. Prepare the journal entry to apply...
Keenan Company estimates that total factory overhead costs will be $120,000 for the year. Direct labor hours are estimated to be 30,000. a. For Keenan Company, determine the predetermined factory overhead rate using direct labor hours as the activity base. If required, round your answer to two decimal places. per direct labor hour b. During August, Keenan Company accumulated 860 hours of direct labor costs on Job 40 and 560 hours on Job 42. Determine the amount of factory overhead...
Cavy Company estimates that total factory overhead costs will be $583,412 for the year. Direct labor hours are estimated to be 92.900. a. Determine the predetermined factory overhead rate Round your answer to the nearest cent. b. Determine the amount of factory overhead applied to Job 456 the amount of direct labor hours is 1.400 and Jobs the amount of direct labor Theuns 3,300 . Job 456 Job c. Prepare the journal entry to apply factory overhead for ording to...
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