Homework Answers
20. Answer: $15.00
Calculations:
| Total Estimated factory overhead costs | $1,725,000 |
| ÷ Total Estimated machine hours | 115,000 |
| = Overhead allocation rate per machine hour | $15.00 |
21.Answer: $2,250.00
Calculations:
| Machine hours for Job # 4560 | 150 |
| x Overhead allocation rate per machine hour | $15.00 |
| = The amount of overhead applied to Job 4560 | $2,250.00 |
22.Answer: $1,050.00
Calculations:
| Machine hours for Job # 4570 | 70 |
| x Overhead allocation rate per machine hour | $15.00 |
| = The amount of overhead applied to Job 4570 | $1,050.00 |
23.Answer: $42,960.00
Calculations:
| Job # 4560 | |
| Direct materials | $14,400 |
| Direct labor | $10,200 |
| Overhead | $2,250 |
| Total cost | $26,850 |
| Add: Mark up [$26,850 x 60%] | $16,110 |
| Price for the Job #4560 | $42,960 |
24. Answer: $1,620,000.00
Calculations:
| Total Machine hours | 108,000 |
| x Overhead allocation rate per machine hour | $15.00 |
| = The amount of overhead applied to all Jobs | $1,620,000.00 |
25. Answer: c)Over-applied
Explanation:
Applied overhead is more than the Actual. Therefore, it is over-applied.
26.Answer: Over-applied of $33,000.00
Calculations:
| Overhead applied | $1,620,000.00 |
| Actual overhead | ($1,587,000) |
| Over-applied (Under-applied) | $33,000.00 |
Add Answer to:
- Do NOT round calculations, ONLY round final answer for each
individual required in a problem...
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5 pts Question 5 The Thomlin Company forecasts that total overhead for the current year will...
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Hello, Please have a look at the picture attached and help me with questions below. Compute...
Hello,
Please have a look at the picture attached and help me with
questions below.
Compute the overhead allocation rate. If job number
1070 is chosen, find the allocated overhead and any over or
under-applied overhead.
Q1. Yahya Company uses a job costing system with machine hours as the allocation base for overhead. The company uses normal costing to develop the overhead allocation rate. The following data are available for the latest accounting period: Estimated fixed factory overhead cost Estimated...
can you show me with detailed calculations how to arrive at each answer. thanks Bierce Corporation...
can you show me with detailed calculations how to
arrive at each answer. thanks
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A manufacturing company estimates it will incur $240,000 of overhead costs in the next vear The...
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6. What was the total manufacturing cost assigned to Job Q? (Do not round intermediate calculations.)...
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(Do not round intermediate calculations.)
a. What was the company’s plant wide predetermined overhead
rate? (Round your answer to 2 decimal places.)
b. How much manufacturing overhead was applied to Job P and how
much was applied to Job Q? (Do not round intermediate
calculations.)
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3. What was the total manufacturing cost assigned to Job P? (Do not round intermediate calculations.)...
3. What was the total manufacturing cost assigned to Job P?
(Do not round intermediate calculations.)
4. If Job P included 20 units, what was its unit product cost?
(Do not round intermediate calculations. Round your final
answer to nearest whole dollar.)
5. What was the total manufacturing cost assigned to Job Q?
(Do not round intermediate calculations.)
6. If Job Q included 30 units, what was its unit product cost?
(Do not round intermediate calculations. Round your final
answer...
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Hello,
Please have a look at the picture attached and help me with
questions below.
Compute the overhead allocation rate. If job number
1070 is chosen, find the allocated overhead and any over or
under-applied overhead.
Q1. Yahya Company uses a job costing system with machine hours as the allocation base for overhead. The company uses normal costing to develop the overhead allocation rate. The following data are available for the latest accounting period: Estimated fixed factory overhead cost Estimated...
can you show me with detailed calculations how to
arrive at each answer. thanks
Bierce Corporation has two manufacturing departments--Machining and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Machining Finishing 4, e00 $4 Total Estimated total machine-hours (MHs) Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per MH 6, 000 $ 42, 000 10,000 $ 46, e00 $ 4, 000 $ 2.20 24 6.00 $4 warded...
A manufacturing company estimates it will incur $240,000 of overhead costs in the next vear The company applies overhead using machine hours and estimates it will use 1,600 machine 2. hours in the next year. What is the predetermined overhead rate for 2020? a) Fast forward to June 2020 when the company used 80 machine hours on Job 1 and 70 machine hours on Job 2. b) What is the overhead applied to Job 1? What is the overhead applied...
6. What was the total manufacturing cost assigned to Job Q?
(Do not round intermediate calculations.)
a. What was the company’s plant wide predetermined overhead
rate? (Round your answer to 2 decimal places.)
b. How much manufacturing overhead was applied to Job P and how
much was applied to Job Q? (Do not round intermediate
calculations.)
12. If Job P included 20 units, what was its unit product cost?
(Do not round intermediate calculations. Round your final
answer to nearest...
Part II - Job Costing Use the information below to answer the following questions: County Lawn and Garden Company is a manufacture of lawn and garden equipment: Budgeted and Actual for 2017 Budgeted variable factory overhead (Budgeted fixed factory overhead (Actual variable factory overhead (Actual fixed factory overhead Budgeted direct labor hours Budgeted direct labor dollars - Budgeted machine hours (Actual direct labor hours Actual direct labor dollars LActual machine hours Direct materials used $ 44,000 $31.000 $ 45,000 $...
3. What was the total manufacturing cost assigned to Job P?
(Do not round intermediate calculations.)
4. If Job P included 20 units, what was its unit product cost?
(Do not round intermediate calculations. Round your final
answer to nearest whole dollar.)
5. What was the total manufacturing cost assigned to Job Q?
(Do not round intermediate calculations.)
6. If Job Q included 30 units, what was its unit product cost?
(Do not round intermediate calculations. Round your final
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