Before the year began, McCrae, Inc. estimated its manufacturing overhead costs for the year to be...
Before the year began, McCrae, Inc. estimated its manufacturing overhead costs for the year to be $300,000 and estimated that 20,000 machine hours would be logged during production. The company uses machine hours to apply manufacturing overhead to production. During the year, the company received an order from a customer for 15 identical units of its most popular product. $1,000 in direct materials were requisitioned and $1,500 in direct labor costs were incurred during the production of the units. A total of 14 machine hours were logged during the production of the units. Assuming a sales price of $558, the gross profit reported on each unit in the order equals $____.
Homework Answers
manufacturing overhead per machine hour = 300000/20000 = 15 per machine hour
cost of production = direct material + direct labor + manufacturing overhead
= 1000+1500+(14*20) = 2780
gross profit = sales- cost of goods produced
(15*558)-2780 = 5590
gross profit per unit = 5590/15 = 372.67
Add Answer to:
Before the year began, McCrae, Inc. estimated its manufacturing
overhead costs for the year to be...
Before the year began, McCrae, Inc. estimated its manufacturing overhead costs for the year to be...
Before the year began, McCrae, Inc. estimated its manufacturing overhead costs for the year to be $300,000 and estimated that 10,000 machine hours would be logged during production. The company uses machine hours to apply manufacturing overhead to production. During the year, the company received an order from a customer for 15 identical units of its most popular product. $1,000 in direct materials were requisitioned and $1,500 in direct labor costs were incurred during the production of the units. A...
Before the year began, McCrae, Inc. estimated its manufacturing overhead costs for the year to be...
Before the year began, McCrae, Inc. estimated its manufacturing overhead costs for the year to be $300,000 and estimated that 10,000 machine hours would be logged during production. The company uses machine hours to apply manufacturing overhead to production During the year, the company received an order from a customer for 15 identical units of its most popular product. $1,000 in direct materials were requisitioned and $1,500 in direct labor costs were incurred during the production of the units. A...
Before the year began, McCrae, Inc. estimated its manufacturing overhead costs for the year to be...
Before the year began, McCrae, Inc. estimated its manufacturing overhead costs for the year to be $400,000 and estimated that 20,000 machine hours would be logged during production. The company uses machine hours to apply manufacturing overhead to production During the year, the company received an order from a customer for 12 identical units of its most popular product. $1,000 in direct materials were requisitioned and $1,500 in direct labor costs were incurred during the production of the units. A...
Before the year began, Mighty Mouse with Wings, Inc. estimated that its manufacturing overhead costs for...
Before the year began, Mighty Mouse with Wings, Inc. estimated that its manufacturing overhead costs for the year would be $400,000. The company esimated that 5,000 direct labor hours and 10,000 machine hours would be logged during production. The company uses the most appropriate manufacturing overhead allocation base for its highly automated manufacturing environment. During the year, the company received an order from Rufous Hummingbird for 12 identical units of its most popular product. $1,000 in direct materials were requisitioned...
year? Walsh Corporation uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to...
year? Walsh Corporation uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. The Corporation estimated that it would incur $255,000 in manufacturing overhead during the year and that it would work 100,000 machine hours. The Corporation actually worked 105 000 machine-hours and incurred串270 000 n manufacturing overhead costs. By how much wa$ manufacturing overhead underapplied or overapplied for the Select one: a. $2,250 underapplied b. $2,250 overapplied С. $15,000 underapplied d. $15,000 overapplied At the...
Giannitti Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data...
Giannitti Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the upcoming year appear below: Estimated machine-hours Estimated variable manufacturing overhead Estimated total fixed manufacturing overhead 72,200 $ 3.10 per machine-hour $838,750 The predetermined overhead rate for the recently completed year was closest to: Multiple Choice $8.61 per machine-hour $679 per machine-hour $9.30 per machine-hour $1472 per machine-hour Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based...
Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Mon...
Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Mon Fabrication Total 2,500 1,500 4,000 $10,000 $15,000 $25,000 $ 1.40 $ 2.20 Job P $13,000 $21,000 Job o $8,000 $7,500 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 1,700 500 2,300 800 900 1,700 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate...
Sheridan Company estimates that annual manufacturing overhead costs will be $902,000. Estimated annual operating activity bases...
Sheridan Company estimates that annual manufacturing overhead costs will be $902,000. Estimated annual operating activity bases are direct labor cost $400,000, direct labor hours 40,000, and machine hours 100,000. Compute the predetermined overhead rate for each activity base. (Round answers to 2 decimal places, eg. 10.50) Overhead rate per direct labor cost Overhead rate per direct labor hour $ Overhead rate per machine hour Coronado Company uses a job order cost system and applies overhead to production on the basis...
Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding...
Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding Fabrication Total 2,500 1,500 4,000 $10,000 $15,000 $25,000 $ 1.40 $ 2.20 Job P $13,000 $21,000 Job 9 $8,000 $7,500 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 1,700 600 2,300 BOG 969 1,789 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate...
Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding...
Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding Fabrication Total 2,500 1,500 4,000 $io, e $15,000 $25,000 $ 1.40 $ 2.20 Job P $13,000 $21,000 Job 0 $8,000 $7,500 Direct materials Direct labor cost Actual machine hours used: Molding Fabrication Total 1,700 600 2,300 800 900 1,700 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined...
Before the year began, McCrae, Inc. estimated its manufacturing overhead costs for the year to be $300,000 and estimated that 10,000 machine hours would be logged during production. The company uses machine hours to apply manufacturing overhead to production. During the year, the company received an order from a customer for 15 identical units of its most popular product. $1,000 in direct materials were requisitioned and $1,500 in direct labor costs were incurred during the production of the units. A...
Before the year began, McCrae, Inc. estimated its manufacturing overhead costs for the year to be $300,000 and estimated that 10,000 machine hours would be logged during production. The company uses machine hours to apply manufacturing overhead to production During the year, the company received an order from a customer for 15 identical units of its most popular product. $1,000 in direct materials were requisitioned and $1,500 in direct labor costs were incurred during the production of the units. A...
Before the year began, McCrae, Inc. estimated its manufacturing overhead costs for the year to be $400,000 and estimated that 20,000 machine hours would be logged during production. The company uses machine hours to apply manufacturing overhead to production During the year, the company received an order from a customer for 12 identical units of its most popular product. $1,000 in direct materials were requisitioned and $1,500 in direct labor costs were incurred during the production of the units. A...
Before the year began, Mighty Mouse with Wings, Inc. estimated that its manufacturing overhead costs for the year would be $400,000. The company esimated that 5,000 direct labor hours and 10,000 machine hours would be logged during production. The company uses the most appropriate manufacturing overhead allocation base for its highly automated manufacturing environment. During the year, the company received an order from Rufous Hummingbird for 12 identical units of its most popular product. $1,000 in direct materials were requisitioned...
year? Walsh Corporation uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. The Corporation estimated that it would incur $255,000 in manufacturing overhead during the year and that it would work 100,000 machine hours. The Corporation actually worked 105 000 machine-hours and incurred串270 000 n manufacturing overhead costs. By how much wa$ manufacturing overhead underapplied or overapplied for the Select one: a. $2,250 underapplied b. $2,250 overapplied С. $15,000 underapplied d. $15,000 overapplied At the...
Giannitti Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the upcoming year appear below: Estimated machine-hours Estimated variable manufacturing overhead Estimated total fixed manufacturing overhead 72,200 $ 3.10 per machine-hour $838,750 The predetermined overhead rate for the recently completed year was closest to: Multiple Choice $8.61 per machine-hour $679 per machine-hour $9.30 per machine-hour $1472 per machine-hour Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based...
Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Mon Fabrication Total 2,500 1,500 4,000 $10,000 $15,000 $25,000 $ 1.40 $ 2.20 Job P $13,000 $21,000 Job o $8,000 $7,500 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 1,700 500 2,300 800 900 1,700 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate...
Sheridan Company estimates that annual manufacturing overhead costs will be $902,000. Estimated annual operating activity bases are direct labor cost $400,000, direct labor hours 40,000, and machine hours 100,000. Compute the predetermined overhead rate for each activity base. (Round answers to 2 decimal places, eg. 10.50) Overhead rate per direct labor cost Overhead rate per direct labor hour $ Overhead rate per machine hour Coronado Company uses a job order cost system and applies overhead to production on the basis...
Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding Fabrication Total 2,500 1,500 4,000 $10,000 $15,000 $25,000 $ 1.40 $ 2.20 Job P $13,000 $21,000 Job 9 $8,000 $7,500 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 1,700 600 2,300 BOG 969 1,789 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate...
Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding Fabrication Total 2,500 1,500 4,000 $io, e $15,000 $25,000 $ 1.40 $ 2.20 Job P $13,000 $21,000 Job 0 $8,000 $7,500 Direct materials Direct labor cost Actual machine hours used: Molding Fabrication Total 1,700 600 2,300 800 900 1,700 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined...
Most questions answered within 3 hours.
-
An MNE is this kind of industry when competition in one country
is essentially independent of...
asked 21 minutes ago -
. For this set of questions, determine what
proportion of a normal distribution is located betweeneach...
asked 57 minutes ago -
A college student is employed as a door-to-door newspaper
salesman. Historical data suggests that the student...
asked 1 hour ago -
MATLAB HW 11 problem using Switch Case and Input commands
Write a script file that calculates...
asked 1 hour ago -
Considering gravitational time dilation, calculate the time that
passes in Earth’s surface while 1 hour passes...
asked 2 hours ago -
Minitab Problem: Take the Lake Hume June rainfall data and find
use the processes outlined in...
asked 3 hours ago -
X Company is trying to decide whether to continue using old
equipment to make Product A...
asked 3 hours ago -
IN PYTHON ONLY !! Program 2: Re-work
program #5 (WeeklyHours) from the previous assignment such that...
asked 3 hours ago -
The average length of time between arrivals at a turnpike
toll-booth is 26 seconds. What is...
asked 5 hours ago -
(a) A piston at 6.1 atm contains a gas that occupies a volume of
3.5 L....
asked 6 hours ago -
Please answer true or false. Words
cannot be changed or added in to make it true...
asked 6 hours ago -
An empty test tube weighs 15.923 grams. Then,
MgCl2•6H2O is added into the test tube. After...
asked 6 hours ago