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9. Direct labor hours are used as the allocation basis for indirect costs per quarter. A total am...
materials and direct labor) and one indirect-cost pool (assembly support). Direct labor-hours is the allocation base...
materials and direct labor) and one indirect-cost pool (assembly support). Direct labor-hours is the allocation base for assembly support costs. In December 2016, Anderson budgets 2017 assembly-support costs to be $8,300,000 and 2017 direct labor-hours to be 166.000. At the end of 2017, Anderson is comparing the costs of several jobs that were started and completed in 2017 (Click the icon to view the data) Read the requirements Requirement 1. Compute the (a) budgeted indirect.cost rate and (b) actual indirect.cost...
3. Daisy Company produces two products, T and U. The indirect labor costs include the following...
3. Daisy Company produces two products, T and U. The indirect labor costs include the following two items: 20 points) Plant Supervision 5600,000 Setup labor indirect) 300.000 Total indirect labor $900,000 The following activity-base usage and unit production information is available for the two products: Number of Direct Labor Setups Hours Units Product T 100 25.000 1.000 Product 200 25.000 1.000 Total 400 50,000 3,000 (a) Determine the single plant-wide factory overhead rate, using direct labor hours as the activity...
Assembly Department Particulars Manufacturing overhead Direct manufacturing labor costs Direct manufacturing labor-hours Machine-hours Machining Department AED3,000,000...
Assembly Department Particulars Manufacturing overhead Direct manufacturing labor costs Direct manufacturing labor-hours Machine-hours Machining Department AED3,000,000 AED 1,400,000 100.000 hours 50,000 hours AED8,750,000 AED2.500,000 200.000 hours 200,000 hours Assembly Department During May, the job-cost record for Job 707 contained the following Machining Particulars Department Direct matenals used AED65,000 Direct manufacturing labor costs AED24,000 Direct manufacturing labor-hours 1,000 hours Machine-hours 2,800 hours AED45,000 AED17.500 1,500 hours 1,000 hours REQUIRED b. At the end of 2020, the actual manufacturing overhead costs were...
manufacturing overhead costs $3,660,000 Actual machine-hours 196,000 1. Calculate the budgeted manufacturing overhead rate. 2 Calculate...
manufacturing overhead costs $3,660,000 Actual machine-hours 196,000 1. Calculate the budgeted manufacturing overhead rate. 2 Calculate the manufacturing overhead allocated during 2017 3. Calculate the amount of under-or overallocated manufacturing overhead. Why do Taylor's managers need to calculate this amount? 4-25 Job costing, accounting for manufacturing overhead, budgeted rates. The Matthew Company uses Seormal job-costing system at its Minneapolis plant. The plant has a machining department and an assem- bly department. Its job-costing system has two direct-cost categories (direct materials...
Blanket Corporation applies manufacturing overhead on the basis of direct labor hours. At the beginning of...
Blanket Corporation applies manufacturing overhead on the basis of direct labor hours. At the beginning of the most recent year, the company bases its predetermined overhead rate on the total estimated overhead of $450,000 and 75,000 estimated machine hours. Actual manufacturing overhead for the year amounted to $460,000 and actual machine hours were 80,000. Assuming that the entire amount of the underapplied or overapplied overhead is closed out to cost of goods sold, what would be the effect of the...
Is Indirect Labor part of Fixed Overhead Costs? I have to calculate the Overhead Allocation Rate...
Is Indirect Labor part of Fixed Overhead Costs? I have to calculate the Overhead Allocation Rate based on the budgeted quantity of cost drivers. From my problem: Overhead is allocated on the basis of direct labor hours. Variable overhead costs include materials and supplies at $4.50 per direct labor hour. Fixed overhead costs include depreciation on equipment and vehicles of $25,000 and miscellaneous other job-related expenses of $10,000. There is also indirect labor of $6,500. My answer: Variable OH Cost...
Direct materials ¥ 50,000 Direct labor 38,400 Indirect production costs 21,120 Total cost ¥ 109,520 Activity...
Direct materials ¥ 50,000 Direct labor 38,400 Indirect production costs 21,120 Total cost ¥ 109,520 Activity Cost-Allocation Base Predicted 20X0 Cost (¥000) Receiving Direct materials cost ¥ 3,500 Assembly Number of control units 11,960 Quality control QC hours 2,015 Shipping Number of boxes shipped 3,645 TOTAL ¥21,120 In 20X0 the Automotive Controls Department expects to produce 92,000 control units, use 650 quality control hours, and ship 8,100 boxes. Suppose Kato prices its products at 15% above total production cost. An...
1 Data Table Laguna Model Construction period Direct materials costs Direct labor costs Direct labor-hours Feb-June...
1 Data Table Laguna Model Construction period Direct materials costs Direct labor costs Direct labor-hours Feb-June 2017 106,440 $ 36,625 $ Mission Model May-Oct 2017 127,250 41,130 1,090 $ 970 Direct materials and direct labor are paid for on a contract basis. The costs of each are known when direct materials are used or when direct labor-hours are worked. The 2017 actual assembly-support costs were $7,425,000, and the actual direct labor-hours were 165,000. Print Done X Requirements 1. Compute the...
Fringe Benefits House Allocation Rate Weight of Base Allocated Cost 2 Total Indirect Materials: House Allocation...
Fringe Benefits House Allocation Rate Weight of Base Allocated Cost 2 Total Indirect Materials: House Allocation Rate Weight of Base Allocated Cost 2 Total The cost components to determine the total cost of each house Expected Costs Home 1 Home 2 Home 3 Total Direct labor Direct materials Fringe benefits Indirect Materials Total cost Walton Construction Company expects to build three new homes during a specific accounting period. The estimated direct materials and labor costs are as follows: Home 2...
ABC Corp. allocates overhead to production on the basis of direct labor costs. If Deltan's total...
ABC Corp. allocates overhead to production on the basis of direct labor costs. If Deltan's total estimated overhead is $450,000 and estimated direct labor cost is $180,000, determine the amount of overhead to be allocated to finished goods inventory. There is $20,000 of total direct labor cost in the jobs in the finished goods inventory. $20,000 $90,000 $70,000 $50,000
materials and direct labor) and one indirect-cost pool (assembly support). Direct labor-hours is the allocation base for assembly support costs. In December 2016, Anderson budgets 2017 assembly-support costs to be $8,300,000 and 2017 direct labor-hours to be 166.000. At the end of 2017, Anderson is comparing the costs of several jobs that were started and completed in 2017 (Click the icon to view the data) Read the requirements Requirement 1. Compute the (a) budgeted indirect.cost rate and (b) actual indirect.cost...
3. Daisy Company produces two products, T and U. The indirect labor costs include the following two items: 20 points) Plant Supervision 5600,000 Setup labor indirect) 300.000 Total indirect labor $900,000 The following activity-base usage and unit production information is available for the two products: Number of Direct Labor Setups Hours Units Product T 100 25.000 1.000 Product 200 25.000 1.000 Total 400 50,000 3,000 (a) Determine the single plant-wide factory overhead rate, using direct labor hours as the activity...
Assembly Department Particulars Manufacturing overhead Direct manufacturing labor costs Direct manufacturing labor-hours Machine-hours Machining Department AED3,000,000 AED 1,400,000 100.000 hours 50,000 hours AED8,750,000 AED2.500,000 200.000 hours 200,000 hours Assembly Department During May, the job-cost record for Job 707 contained the following Machining Particulars Department Direct matenals used AED65,000 Direct manufacturing labor costs AED24,000 Direct manufacturing labor-hours 1,000 hours Machine-hours 2,800 hours AED45,000 AED17.500 1,500 hours 1,000 hours REQUIRED b. At the end of 2020, the actual manufacturing overhead costs were...
manufacturing overhead costs $3,660,000 Actual machine-hours 196,000 1. Calculate the budgeted manufacturing overhead rate. 2 Calculate the manufacturing overhead allocated during 2017 3. Calculate the amount of under-or overallocated manufacturing overhead. Why do Taylor's managers need to calculate this amount? 4-25 Job costing, accounting for manufacturing overhead, budgeted rates. The Matthew Company uses Seormal job-costing system at its Minneapolis plant. The plant has a machining department and an assem- bly department. Its job-costing system has two direct-cost categories (direct materials...
1 Data Table Laguna Model Construction period Direct materials costs Direct labor costs Direct labor-hours Feb-June 2017 106,440 $ 36,625 $ Mission Model May-Oct 2017 127,250 41,130 1,090 $ 970 Direct materials and direct labor are paid for on a contract basis. The costs of each are known when direct materials are used or when direct labor-hours are worked. The 2017 actual assembly-support costs were $7,425,000, and the actual direct labor-hours were 165,000. Print Done X Requirements 1. Compute the...
Fringe Benefits House Allocation Rate Weight of Base Allocated Cost 2 Total Indirect Materials: House Allocation Rate Weight of Base Allocated Cost 2 Total The cost components to determine the total cost of each house Expected Costs Home 1 Home 2 Home 3 Total Direct labor Direct materials Fringe benefits Indirect Materials Total cost Walton Construction Company expects to build three new homes during a specific accounting period. The estimated direct materials and labor costs are as follows: Home 2...
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