Marigold provided the following information from its accounting records for 2022: Expected production Actual production Budgeted overhead Actual overhead 33200 labour hours 31200 labour hours $1660000 $1610000 How much is the overhead application rate if Marigold bases the rate on direct labour hours?

Marigold provided the following information from its accounting records for 2022: Expected production Actual production Budgeted overhead Actual overhead 33200 labour hours 31200 labour hours $1660000 $1610000 How much is the overhead application rate if Marigold bases the rate on direct labour hours?

Name: Marigold provided the following information from its accounting recor
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Description: Marigold provided the following information from its accounting records for 2022:Expected productionActual productionBudgeted overheadActual overhead33200 labour hours31200 labour hours$1660000$1610000How much is the overhead application rate if Mar

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 8PA: Coops Stoops estimated its annual overhead to be $85,000 and based its predetermined overhead rate...

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Coops Stoops estimated its annual overhead to be $85,000 and based its predetermined overhead rate on 24,286 direct labor hours. At the end of the year, actual overhead was $90,000 and the total direct labor hours were 24,100. What is the entry to dispose of the over applied or under applied overhead?
A company expected its annual overhead costs to be $1600000 and direct labor costs to be $1000000. Actual overhead was $1550000, and actual labor costs totaled $1100000. How much is the company’s predetermined overhead rate to the nearest cent? $1.45 $1.41 $1.60 $1.55
If annual overhead costs are expected to be $ 784000 and direct labor costs are expected to be $ 1000000, then if the activity base is direct labor costs: a. a predetermined overhead rate cannot be determined. b. for every dollar of manufacturing overhead, 1.28 cents of direct labor will be assigned. c. for every dollar of direct labor, 78.4 cents of manufacturing overhead will be assigned. d. $ 1.28 is the predetermined overhead rate.
Amanzi Company applies Overhead based on Direct Labour hours. At The beginning of the year, Amanzi estimates Overhead to be R700 000, Machine hours to be R200 000 and Direct labour hours to be R35000. During the year Amanzi has R5000 Direct labour hours and 10 000 Machine hoursWhat is the Predetermined Overhead rate?a. R15.00 per machine hourb. R14.00 per direct labour hourc. R20.00 per direct labor hourd. R18.00 per machine houre. None of these are correct.
Amanzi Company applies Overhead based on Direct Labour hours. At The beginning of the year, Amanzi estimates Overhead to be R700 000, Machine hours to be R200 000 and Direct labour hours to be R35000. During the year Amanzi has R5000 Direct labour hours and 10 000 Machine hours What is the Predetermined Overhead rate? a. R15.00 per machine hour b. R14.00 per direct labour hour c. R20.00 per direct labor hour d. R18.00 per machine hour e. None of these are correct.
Gensource Company provided the following information from its accounting records for 2021: Estimated production 60,000 labor hours Actual production 56,000 labor hours Estimated overhead $1,800,000 Actual overhead $1,740,000 How much is the predetermined overhead rate if the Company bases it on direct labor hours? Select one: O a. $29.00 per hour b. $32.14 per hour c. $30.00 per hour d. $31.07 per hour
Use the following information to answer the question. Estimated manufacturing overhead $180,000 Actual manufacturing overhead $240,000 Estimated direct labour hours 15,000 Actual direct labour hours worked 16,000 The predetermined overhead rate for applying manufacturing overhead would be:
a)Compute EpsilonManufacturing Company predetermined manufacturing overhead rate for 2018. b)How much manufacturing overhead was allocated to Job#W500? c)Calculate the total cost & quotation price of Job #W500, given that a margin of 25% is applied. d)How much was the production cost per unit (cost per crate) of finished product?
Oriole Company provided the following information from its accounting records for 2019: Expected production 100000 labor hours Actual production 96000 labor hours Budgeted overhead $2100000 Actual overhead $1840000 How much is the overhead application rate if Oriole Company bases it on direct labor hours? $21.00 per hour $19.17 per hour $21.88 per hour $18.40 per hour
Assume the following: Estimated fixed manufacturing overhead for the coming period of $202,000 Estimated variable manufacturing overhead of $2.00 per direct labor hour Actual manufacturing overhead for the period of $320,000 Actual direct labor - hours worked of 54,000 hours Estimated direct labor - hours to be worked in the coming period of 55,000 hours. The amount of overhead applied to production during the period is closest to: Note: Round your intermediate value of "Predetermined overhead rate" to two decimal places
Amanzi Company applies Overhead based on Direct Labour hours. At The beginning of the year, Amanzi estimates Overhead to be R700 000, Machine hours to be R200 000 and Direct labour hours to be R35000. During the year Amanzi has R5000 Direct labour hours and 10 000 Machine hours What is the Predetermined Overhead rate?
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