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Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs...
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs...
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during the year: direct materials costs, $650,000; direct labor costs, $3,000,000; and factory overhead costs applied, $1,800,000. 1. Determine the company's predetermined overhead rate for the year. 2. Assuming that the company's $71,000 ending Work in Process Inventory account for the year had $20,000 of direct labor costs, determine the inventory's direct materials costs.
Exercise 15-17 Overhead rate calculation, allocation, and analysis LO P3 Moonrise Bakery applies factory overhead based...
Exercise 15-17 Overhead rate calculation, allocation, and analysis LO P3 Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during the year: direct materials costs, $700,000; direct labor costs, $3,500,000; and factory overhead costs applied, $2,100,000. 1. Determine the company's predetermined overhead rate for the year. 2. Assuming that the company's $76,000 ending Work in Process Inventory account for the year had $25,000 of direct labor costs, determine the inventory's direct materials costs....
1 and 2 Exercise 2-17 Overhead rate calculation allocation, and analysis P3 Moonrise Bakery applies factory...
1 and 2
Exercise 2-17 Overhead rate calculation allocation, and analysis P3 Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the follow- ing costs during 2017: direct materials costs, $650,000; direct labor costs, $3,000,000; and factory over- head costs applied. S1.800,000. 1. Determine the company's predetermined overhead rate for 2017. 2. Assuming that the company's $71,000 ending Work in Process Inventory account for 2017 had $20,000 of direct labor costs, determine the inventory's direct materials...
- fury to allocate any over- or underapplied overhead to Cost of Goods Sold. Moonrise Bakery...
- fury to allocate any over- or underapplied overhead to Cost of Goods Sold. Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the follow- ing costs during 2017: direct materials costs, $650,000; direct labor costs, $3,000,000; and factory over- head costs applied, $1,800,000. 1. Determine the company's predetermined overhead rate for 2017. 2. Assuming that the company's $71,000 ending Work in Process Inventory account for 2017 had $20,000 of direct labor costs, determine the inventory's...
NEED HELP!!!!! READ THIS INFORMATION VERY CAREFULLY PLEASE THANK YOU. Moonrise Bakery applies factory overhead based...
NEED HELP!!!!! READ THIS INFORMATION VERY CAREFULLY PLEASE THANK
YOU.
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during 2015: direct materials costs, $650,000; direct labor costs, $3,000,000; and factory overhead costs applied, $1,800,000 Determine the company's predetermined overhead rate for year 2015. Answer is complete but not entirely correct. Choose Numerator: Total overhead costs 1,800,000 Overhead Rate Choose Denominator: Total direct labor costs 3,000 I - - - Overhead Rate Overhead...
Laura's Bakery Beginning Work-in-Process Inventory Direct Materials Used Direct Labor Manufacturing Overhead Total Manufacturing Costs Incurred...
Laura's Bakery Beginning Work-in-Process Inventory Direct Materials Used Direct Labor Manufacturing Overhead Total Manufacturing Costs Incurred 14,500 10,300 45,400 during the Year Total Manufacturing Costs to Account For Ending Work-in-Process Inventory Cost of Goods Manufactured 56,000 51,600
Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost...
Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost of goods completed Cost of goods sold Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of direct - labor costs $152,000 85,000 127,000 148,000 286.000 259,000 35,000 65,000 53,000 140 percent The ending balance of work-in-process inventory is O A. $413,000 O B. $454,800 OC. $168,800 OD. $127,000
r cost system and applies overhead to production on the basis of direct labor costs. On...
r cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $ 24,000, direct labor $ 14,400, and manufacturing overhead $ 19,200. As of January 1, Job 49 had been completed at a cost of $ 108,000 and was part of finished goods inventory. There was a $ 18,000...
Mango Company applies overhead based on direct labor costs. For the current year, Mango Company estimated...
Mango Company applies overhead based on direct labor costs. For the current year, Mango Company estimated total overhead costs to be $700,000, and direct labor costs to be $350,000. Actual overhead costs for the year totaled $710,000, and actual direct labor costs totaled $390,000. At year-end, the balance in the Factory Overhead account is a: Multiple Choice $390,000 Debit balance. $70.000 Credit balance. $70,000 Debit balance. $780,000 Credit balance. $710.000 Debit balance.
Bergan Company estimates that total factory overhead costs will be $620,000 for the year. Direct labor...
Bergan Company estimates that total factory overhead costs will be $620,000 for the year. Direct labor hours are estimated to be 80,000. Required: a. For Bergan Company, determine the predetermined factory overhead rate using direct labor hours as the activity base. If required, round your answer to two decimal places. b. During May, Bergan Company accumulated 2,500 hours of direct labor costs on Job 200 and 3,000 hours on Job 305. Determine the amount of factory overhead applied to Jobs...
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during the year: direct materials costs, $650,000; direct labor costs, $3,000,000; and factory overhead costs applied, $1,800,000. 1. Determine the company's predetermined overhead rate for the year. 2. Assuming that the company's $71,000 ending Work in Process Inventory account for the year had $20,000 of direct labor costs, determine the inventory's direct materials costs.
Exercise 15-17 Overhead rate calculation, allocation, and analysis LO P3 Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during the year: direct materials costs, $700,000; direct labor costs, $3,500,000; and factory overhead costs applied, $2,100,000. 1. Determine the company's predetermined overhead rate for the year. 2. Assuming that the company's $76,000 ending Work in Process Inventory account for the year had $25,000 of direct labor costs, determine the inventory's direct materials costs....
1 and 2
Exercise 2-17 Overhead rate calculation allocation, and analysis P3 Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the follow- ing costs during 2017: direct materials costs, $650,000; direct labor costs, $3,000,000; and factory over- head costs applied. S1.800,000. 1. Determine the company's predetermined overhead rate for 2017. 2. Assuming that the company's $71,000 ending Work in Process Inventory account for 2017 had $20,000 of direct labor costs, determine the inventory's direct materials...
- fury to allocate any over- or underapplied overhead to Cost of Goods Sold. Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the follow- ing costs during 2017: direct materials costs, $650,000; direct labor costs, $3,000,000; and factory over- head costs applied, $1,800,000. 1. Determine the company's predetermined overhead rate for 2017. 2. Assuming that the company's $71,000 ending Work in Process Inventory account for 2017 had $20,000 of direct labor costs, determine the inventory's...
NEED HELP!!!!! READ THIS INFORMATION VERY CAREFULLY PLEASE THANK
YOU.
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during 2015: direct materials costs, $650,000; direct labor costs, $3,000,000; and factory overhead costs applied, $1,800,000 Determine the company's predetermined overhead rate for year 2015. Answer is complete but not entirely correct. Choose Numerator: Total overhead costs 1,800,000 Overhead Rate Choose Denominator: Total direct labor costs 3,000 I - - - Overhead Rate Overhead...
Laura's Bakery Beginning Work-in-Process Inventory Direct Materials Used Direct Labor Manufacturing Overhead Total Manufacturing Costs Incurred 14,500 10,300 45,400 during the Year Total Manufacturing Costs to Account For Ending Work-in-Process Inventory Cost of Goods Manufactured 56,000 51,600
Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost of goods completed Cost of goods sold Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of direct - labor costs $152,000 85,000 127,000 148,000 286.000 259,000 35,000 65,000 53,000 140 percent The ending balance of work-in-process inventory is O A. $413,000 O B. $454,800 OC. $168,800 OD. $127,000
r cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $ 24,000, direct labor $ 14,400, and manufacturing overhead $ 19,200. As of January 1, Job 49 had been completed at a cost of $ 108,000 and was part of finished goods inventory. There was a $ 18,000...
Mango Company applies overhead based on direct labor costs. For the current year, Mango Company estimated total overhead costs to be $700,000, and direct labor costs to be $350,000. Actual overhead costs for the year totaled $710,000, and actual direct labor costs totaled $390,000. At year-end, the balance in the Factory Overhead account is a: Multiple Choice $390,000 Debit balance. $70.000 Credit balance. $70,000 Debit balance. $780,000 Credit balance. $710.000 Debit balance.
Bergan Company estimates that total factory overhead costs will be $620,000 for the year. Direct labor hours are estimated to be 80,000. Required: a. For Bergan Company, determine the predetermined factory overhead rate using direct labor hours as the activity base. If required, round your answer to two decimal places. b. During May, Bergan Company accumulated 2,500 hours of direct labor costs on Job 200 and 3,000 hours on Job 305. Determine the amount of factory overhead applied to Jobs...
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