X company had actual overhead costs of 25,000 in 2007. In its costing system $30,000 of...
Homework Answers
Answer- The amount of over-applied overhead costs = $5000.
Explanation= Over-applied overhead costs = Manufacturing overhead applied - Actual manufacturing overhead costs
= $30000 – $25000
= $5000
Add Answer to:
X
company had actual overhead costs of 25,000 in 2007. In its costing
system $30,000 of...
30. The overhead control account records the actual overhead costs incurred and the overhead cost...
True or False
30. The overhead control account records the actual overhead costs incurred and the overhead costs allocated. 31. There are normally three inventory accounts in a manufacturer's general ledger; raw materials, cost of sales and finished goods. 32. When raw materials are purchased the raw materials inventory account is credited. 33. Actual overhead is debited to the overhead control account. 34. The journal entry to record overhead allocated is debit Work in Process and credit Overhead Control 35....
ARKANSAS CORPORATION is a company that produces machinery to customer order. Its job costing system, using...
ARKANSAS CORPORATION is a company that produces machinery to customer order. Its job costing system, using normal costing, has two direct cost categories, direct materials and direct labor, and one indirect cost pool, manufacturing overhead, allocated using a budgeted rate based on direct labor costs. Budgeted and actual information for 2019 are as follows: Budget Actual Direct Labor $210,000 $200,000 Manufacturing overhead $126,000 $ 93,420 At the end of 2019, the ending work in process consisted of: Ending Work...
Taylor Construction Company uses a job-order costing system. The company had 3 jobs in process at...
Taylor Construction Company uses a job-order costing system. The company had 3 jobs in process at the beginning of the month Job 302. Job 303, and Job 304). The beginning balance of the Work In Process account was $145,400, consisting of $42,400, 565, 100, and $37.900 shown on the job cost sheets for Jobs 302, 303, and 304, respectively. During the month. Taylor added the following materials and labor costs to each job: Inventory Materials Labor $32.000 Job 302 Job...
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...
Aspen Company estimates its manufacturing overhead to be $848,000 and its direct labor costs to be...
Aspen Company estimates its manufacturing overhead to be $848,000 and its direct labor costs to be $530,000 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 $166,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $291,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $116,000. Actual...
Aspen Company estimates its manufacturing overhead to be $765,000 and its direct labor costs to be...
Aspen Company estimates its manufacturing overhead to be $765,000 and its direct labor costs to be $510,000 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 $162,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $287,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $112,000. Actual...
Vanwagenen Inc. uses a job costing system. The company applies manufacturing overhead to jobs using a...
Vanwagenen Inc. uses a job costing system. The company applies manufacturing overhead to jobs using a predetermined overhead rate based on direct labor cost. The company has provided the following data for the month of April: Inventories: Beginning Ending Raw materials (all materials are direct materials) ............................... $13,500 $17,500 Work in process……………………………………………...................... $12,000 $16,000 Finished goods………………………………………………..................... $27,000 $25,000 Addition information is given below. Direct materials used in production..………………………..... $66,000 Total manufacturing costs charged to production (includes direct materials, direct labor,...
Aspen Company estimates its manufacturing overhead to be $1,170,000 and its direct labor costs to be...
Aspen Company estimates its manufacturing overhead to be $1,170,000 and its direct labor costs to be $600,000 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 $180,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $305,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $130,000. Actual...
Furniture Company manufactures custom furniture only and uses a job order costing system to accumulate costs....
Furniture Company manufactures custom furniture only and uses a job order costing system to accumulate costs. This is Corbanzo’s first year of operation. Actual direct materials and direct labor costs are accumulated for each job, but a predetermined overhead rate is used to apply manufacturing overhead costs to individual jobs. Manufacturing overhead is applied on the basis of direct labor hours. In computing a predetermined overhead rate, the controller estimated that manufacturing overhead costs for the year would be $200,000...
Aspen Company estimates its manufacturing overhead to be $1,220,000 and its direct labor costs to be $610,000 for year...
Aspen Company estimates its manufacturing overhead to be $1,220,000 and its direct labor costs to be $610,000 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 $182,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $307,000. Job 2-3, which is still in work- in-process inventory, had actual direct labor costs of $132,000....
True or False
30. The overhead control account records the actual overhead costs incurred and the overhead costs allocated. 31. There are normally three inventory accounts in a manufacturer's general ledger; raw materials, cost of sales and finished goods. 32. When raw materials are purchased the raw materials inventory account is credited. 33. Actual overhead is debited to the overhead control account. 34. The journal entry to record overhead allocated is debit Work in Process and credit Overhead Control 35....
Taylor Construction Company uses a job-order costing system. The company had 3 jobs in process at the beginning of the month Job 302. Job 303, and Job 304). The beginning balance of the Work In Process account was $145,400, consisting of $42,400, 565, 100, and $37.900 shown on the job cost sheets for Jobs 302, 303, and 304, respectively. During the month. Taylor added the following materials and labor costs to each job: Inventory Materials Labor $32.000 Job 302 Job...
Aspen Company estimates its manufacturing overhead to be $1,170,000 and its direct labor costs to be $600,000 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 $180,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $305,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $130,000. Actual...
Aspen Company estimates its manufacturing overhead to be $1,220,000 and its direct labor costs to be $610,000 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 $182,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $307,000. Job 2-3, which is still in work- in-process inventory, had actual direct labor costs of $132,000....
Most questions answered within 3 hours.
-
Write a program to solve the Josephus problem, with the following
modification:
Sample Input:
./a.out n...
asked 1 hour ago -
At the start of a CD it is spinning at a rate of 525 rpm
(revolutions...
asked 2 hours ago -
4. Without doing any calculations, predict whether the observed
∆T would increase, decrease or remain the...
asked 3 hours ago -
Based on the range, which of the following sets of scores has
the greatest variability? 3,...
asked 4 hours ago -
Ripples in a pond travel at a velocity of 3 m/s with one peak
passing a...
asked 4 hours ago -
A man stands on the roof of a building of height 13.0 mm and
throws a...
asked 4 hours ago -
The extent to which assets are financed by borrowed funds and
other liabilities is indicated by:...
asked 5 hours ago -
Explain in detail
Germany is the fifth largest economy
explain what goods and services Germany specializes...
asked 5 hours ago -
The density of platinum is 21.45 g/mL. If a cube of platinum
with a mass of...
asked 5 hours ago -
Accounts Receivable
Sales
A/R Posting
Extended Sales Invoice
Packing Slip
Compare invoice to packing slip 2...
asked 6 hours ago -
Michaella, age 23, is a full-time law student and is claimed by
her parents as a...
asked 6 hours ago -
Why are polymers not typically casted into products?
asked 6 hours ago