The T-account showing the manufacturing overhead activity for Kenneth Corp. for 2018 is as follows: Manufacturing Overhead 210,000 196,000 Read the requirements. Requirement 1. What is the actual manufacturing overhead? Actual manufacturing overhead: S Requirement 2. What is the allocated manufacturing overhead? Allocated manufacturing overhead: S Requirement 3. Is manufacturing overhead underallocated or overallocated? By how much? Manufacturing overhead is by $

The T-account showing the manufacturing overhead activity for Kenneth Corp. for 2018 is as follows: Manufacturing Overhead 210,000 196,000 Read the requirements. Requirement 1. What is the actual manufacturing overhead? Actual manufacturing overhead: S Requirement 2. What is the allocated manufacturing overhead? Allocated manufacturing overhead: S Requirement 3. Is manufacturing overhead underallocated or overallocated? By how much? Manufacturing overhead is by $

Name: The T-account showing the manufacturing overhead activity for Kenneth
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Description: The T-account showing the manufacturing overhead activity for Kenneth Corp. for 2018 is as follows:Manufacturing Overhead210,000 196,000Read the requirements.Requirement 1. What is the actual manufacturing overhead?Actual manufacturing overhead: SRe

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 7EA: A company estimates its manufacturing overhead will be $750,000 for the next year. What is the...

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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?
The actual overhead for a company is $73,175. Overhead was based on 4,500 machine hours and was $3,325 over applied for the year. What is the overhead application rate per direct labor hour? What is the journal entry to dispose of the under applied overhead?
If a company bases its predetermined overhead rate on 100,000 machine hours, and It actually has 100,000 machine hours, would there be an under applied or over applied overhead?
A company estimates its manufacturing overhead will be $750,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? Budgeted direct labor hours: 60,000 Budgeted direct labor expense: $1,500,000 Estimated machine hours: 100,000
The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?
A company calculated the predetermined overhead based on an estimated overhead of $70.000, and the activity for the cost driver was estimated as 2,500 hours. If product A utilized 1,350 hours and product 8 utilized 1,100 hours, what was the total amount of overhead assigned to the products? A. $35000 B. $30.800 C. $37,800 D. $68,600
lator The T-account showing the manufacturing overhead activity for Davis Corp. for 2024 is as follows: K Manufacturing Overhead 203,000 200,000 Read the requirements. Requirement 1. What is the actual manufacturing overhead? Actual manufacturing overhead: Ask my instructor Clear all Check
A company estimates the following manufacturing costs at the beginning of the period: direct labor, $532,000; dir $203,000; and factory overhead, $142,000. Required: 1. Compute its predetermined overhead rate as a percent of direct labor. 2. Compute its predetermined overhead rate as a percent of direct materials. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute its predetermined overhead rate as a percent of direct labor. Numerator: 1 1 Overhead Rate Denominator: Required 1 = Overhead Rate Overhead Rate = = Required 2 >
Use the ff. information. The firm applies manufacturing overhead on the basis of machine hours. The estimates of the manufacturing overhead and of machine hours were made at the beginning of the year for the purpose of computing the company’s predetermined overhead rate (POHR). Estimated manufacturing overhead ₱ 695,400 Estimated machine hours 19,000 Actual manufacturing overhead ₱ 685,000 Actual machine hours 18,900 The firm’s POHR would be? a. ₱ 36.60 b. ₱ 36.79 d. ₱ 36.24 e. ₱ 36.05 c. ₱ 36.41 f. ₱0 The applied manufacturing overhead would be? a. ₱ 685,000 b. ₱ 695,331 c. ₱ 691,740 d. ₱ 688,149 e. ₱ 688,560 f. ₱ 681,345 The overhead for the year was: a. ₱ 10,331 underapplied b. ₱ 6,740 overapplied c. ₱ 3,660 underapplied d. ₱ 6,740 underapplied e. ₱ 3,149overapplied f. ₱ 10,331 overapplied
Vakos Manufacturers uses the traditional approach in allocating manufacturing overheads base hours. They have provided you with the following information: E For year ended 30 December 2022: Purchases - direct materials Cost per labour hour Manufacturing Overhead rate Actual Labour hours Actual Machine hours a) b) c) Actual manufacturing overheads Selling and admin expenses Interest paid Sales Tax rate Inventories at year end: Materials Work in Process Finished Goods 205,000 6 15/mach.hr 20,000hrs 30,000hrs 440,000 400,000 40,000 2,000,000 30% 2021 2022 (E) (E) 5,000 10,000 20,000 30,000 25,000 15,000 Compute the total Applied Manufacturing Overhead costs using the rate. Compute the MO Overhead cost variance and state whether over or underapplied and how the variance would be treated. Prepare a Statement of Goods Manufactured for year ended 31 December 2022 using Actual M.O costs. Prepare the Income Statement for year ended 30 December 2022.
The predetermined overhead rate per direct labor hour to be used to apply total overhead to individual jobs next year is: P3.70 P3.88 P3.36 P3.50
Estimated overhead to be $ 500000 , Direct labor hours are 50000 , Machine hours are to be 25000 , overhead applied based on Direct labor What is the predtermined overhead rate?