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40. For 2019, LIMO Company incurred $600,000 of actual manufacturing overhead costs. The Manufacturing Overhead account...
d overhead ek in Process 39. MK Company uses a job order costing system and applies...
d overhead ek in Process 39. MK Company uses a job order costing system and applies overhead to jobs at a predetermined a 45% of direct labor cost. For the month of July, the following debits (credits) were in the Work in Pa account: $40,000 Beginning balance Direct materials 200,000 Direct labor 160,000 Manufacturing overhead 72,000 Cost of goods manufactured (438,000) Job A300, the only job in process at the end of July, was charged with manufacturing overhead of $9,000....
Mackinaw Manufacturing Corporation uses a predetermined overhead rate based on direct labor hours to apply manufacturing...
Mackinaw Manufacturing Corporation uses a predetermined overhead rate based on direct labor hours to apply manufacturing overhead to jobs. Last year, the Corporation worked 17,500 actual direct labor-hours and incurred $148.300 of actual manufacturing overhead cost. They had estimated at the beginning of the year that 16,300 direct labor hours would be worked and S146700 of manufacturing overhead costs incurred. The Corporation had calculated a predetermined overhead rate of $9 per direct labor-hour. The Corporation's manufacturing overhead for the year...
18) Precision Corporation used a predetermined overhead rate last year of $3 per direct labor-hour, based...
18) Precision Corporation used a predetermined overhead rate last year of $3 per direct labor-hour, based on an estimate of 24,000 direct labor-hours to be worked during the year. Actual costs and activity during the year were: Actual manufacturing overhead cost incurred 34,000 Actual direct labor-hours worked 127,000 The overapplied or underapplied manufacturing overhead for the year was: A) $3,000 underapplied B) $3,000 overapplied C) $12,000 underapplied D) $12,000 overapplied 19) Boursaw Corporation has provided the following data concerning last...
Colby Company estimates that annual manufacturing overhead costs will be $600,000. Estimated annual operating activity bases...
Colby Company estimates that annual manufacturing overhead costs will be $600,000. Estimated annual operating activity bases are: direct labor cost $460,000, direct labor hours 40,000 and machine hours 80,000. The actual manufacturing overhead cost for the year was $601,000 and the actual direct labor cost for the year was $456,000. Actual direct labor hours totaled 39,800 and machine hours totaled 79,000. Colby applies overhead based on direct labor hours. Compute the predetermined overhead rate and determine the amount of manufacturing...
would appreciate detailed steps/formulas Dane Company's predetermined overhead rate is based on direct labor hours (DLHS)....
would appreciate detailed steps/formulas
Dane Company's predetermined overhead rate is based on direct labor hours (DLHS). At the beginning of the current year, the company estimated that its manufacturing overhead would total $181,500 during the year. During the year, the company incurred $210,000 in actual manufacturing overhead costs. The Manufacturing Overhead account showed that overhead was overapplied by $1,200 during the year. If the company used 960 DLHS during the period, how many DLHs were estimated to be used at...
Star Company had actual manufacturing overhead costs of $130,000 and a predetermined overhead rate of $3.50...
Star Company had actual manufacturing overhead costs of $130,000 and a predetermined overhead rate of $3.50 per machine hour Star Compa during the period. Star's manufacturing overhead is Select one O a $27,500 overapplied O b. $28,500 overapplied O c. $27,500 underapplied O d. $28,500 underapplied Star Company had actual manufacturing overhead costs of $130,000 and a predetermined overhead rate of during the period. Star's manufacturing overhead is Select one: O a $27,500 overapplied b. $28,500 overapplied c. $27,500 underapplied...
Amy Corporation, which applies manufacturing overhead on the basis of direct labor hours, has provided the...
Amy Corporation, which applies manufacturing overhead on the basis of direct labor hours, has provided the following data for its most recent year of operations. Estimated manufacturing overhead Estimated direct labor hours Actual manufacturing overhead Actual direct labor hours $80,080 1,100 $76,800 1,060 The estimates of the manufacturing overhead and of direct labor hours were made at the beginning of the year. The applied manufacturing overhead for the year is closest to Multiple Choke $75,089 0 $77,168 576.800 $76.450 Magnolia...
Problem 11A-8 Applying Overhead; Overhead Variances [LO11-3, LO11-4] Lane Company manufactures a ...
Problem 11A-8 Applying Overhead; Overhead Variances [LO11-3, LO11-4] Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. Variable manufacturing overhead should be $2.40 per standard direct labor-hour and fixed manufacturing overhead should be $384,000 per year. The company's product requires 4 pounds of material that has a standard cost of $4.00 per pound and 1.5 hours of direct labor time that has a standard...
Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost...
Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. The budgeted variable manufacturing overhead is $2.60 per direct labor-hour and the budgeted fixed manufacturing overhead is $495,000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $4.50 per pound. The standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $12.30 per...
12 A company uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead...
12 A company uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Last year, the company worked 61,000 actual direct labor-hours and incurred $552,000 of actual manufacturing overhead cost. The company had estimated that it would work 62,000 direct labor-hours during the year and incur $465,000 of manufacturing overhead cost. The company's manufacturing overhead cost for the year was: (Round your intermediate calculations to 2 decimal places.) Multiple Choice overapplied by $94,500 underapplied by...
d overhead ek in Process 39. MK Company uses a job order costing system and applies overhead to jobs at a predetermined a 45% of direct labor cost. For the month of July, the following debits (credits) were in the Work in Pa account: $40,000 Beginning balance Direct materials 200,000 Direct labor 160,000 Manufacturing overhead 72,000 Cost of goods manufactured (438,000) Job A300, the only job in process at the end of July, was charged with manufacturing overhead of $9,000....
Mackinaw Manufacturing Corporation uses a predetermined overhead rate based on direct labor hours to apply manufacturing overhead to jobs. Last year, the Corporation worked 17,500 actual direct labor-hours and incurred $148.300 of actual manufacturing overhead cost. They had estimated at the beginning of the year that 16,300 direct labor hours would be worked and S146700 of manufacturing overhead costs incurred. The Corporation had calculated a predetermined overhead rate of $9 per direct labor-hour. The Corporation's manufacturing overhead for the year...
18) Precision Corporation used a predetermined overhead rate last year of $3 per direct labor-hour, based on an estimate of 24,000 direct labor-hours to be worked during the year. Actual costs and activity during the year were: Actual manufacturing overhead cost incurred 34,000 Actual direct labor-hours worked 127,000 The overapplied or underapplied manufacturing overhead for the year was: A) $3,000 underapplied B) $3,000 overapplied C) $12,000 underapplied D) $12,000 overapplied 19) Boursaw Corporation has provided the following data concerning last...
would appreciate detailed steps/formulas
Dane Company's predetermined overhead rate is based on direct labor hours (DLHS). At the beginning of the current year, the company estimated that its manufacturing overhead would total $181,500 during the year. During the year, the company incurred $210,000 in actual manufacturing overhead costs. The Manufacturing Overhead account showed that overhead was overapplied by $1,200 during the year. If the company used 960 DLHS during the period, how many DLHs were estimated to be used at...
Star Company had actual manufacturing overhead costs of $130,000 and a predetermined overhead rate of $3.50 per machine hour Star Compa during the period. Star's manufacturing overhead is Select one O a $27,500 overapplied O b. $28,500 overapplied O c. $27,500 underapplied O d. $28,500 underapplied Star Company had actual manufacturing overhead costs of $130,000 and a predetermined overhead rate of during the period. Star's manufacturing overhead is Select one: O a $27,500 overapplied b. $28,500 overapplied c. $27,500 underapplied...
Amy Corporation, which applies manufacturing overhead on the basis of direct labor hours, has provided the following data for its most recent year of operations. Estimated manufacturing overhead Estimated direct labor hours Actual manufacturing overhead Actual direct labor hours $80,080 1,100 $76,800 1,060 The estimates of the manufacturing overhead and of direct labor hours were made at the beginning of the year. The applied manufacturing overhead for the year is closest to Multiple Choke $75,089 0 $77,168 576.800 $76.450 Magnolia...
Problem 11A-8 Applying Overhead; Overhead Variances [LO11-3, LO11-4] Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. Variable manufacturing overhead should be $2.40 per standard direct labor-hour and fixed manufacturing overhead should be $384,000 per year. The company's product requires 4 pounds of material that has a standard cost of $4.00 per pound and 1.5 hours of direct labor time that has a standard...
Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. The budgeted variable manufacturing overhead is $2.60 per direct labor-hour and the budgeted fixed manufacturing overhead is $495,000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $4.50 per pound. The standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $12.30 per...
12 A company uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Last year, the company worked 61,000 actual direct labor-hours and incurred $552,000 of actual manufacturing overhead cost. The company had estimated that it would work 62,000 direct labor-hours during the year and incur $465,000 of manufacturing overhead cost. The company's manufacturing overhead cost for the year was: (Round your intermediate calculations to 2 decimal places.) Multiple Choice overapplied by $94,500 underapplied by...
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