3. XYZ Ltd incurred $500 000 of manufacturing overhead costs during the financial year 2021. However, only $400 000 of overhead was applied to production. At the end of the financial year, the following amounts of the applied overhead remained in the various manufacturing accounts: Work in process inventory Finished goods inventory Cost of goods sold $80,000 100,000 220,000

3. XYZ Ltd incurred $500 000 of manufacturing overhead costs during the financial year 2021. However, only $400 000 of overhead was applied to production. At the end of the financial year, the following amounts of the applied overhead remained in the various manufacturing accounts: Work in process inventory Finished goods inventory Cost of goods sold $80,000 100,000 220,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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2. Change all of the numbers in the data area of your worksheet so that it looks like this: A 1 Chapter 3: Applying Excel 2 3 Data 4 Allocation base 5 Estimated manufacturing overhead cost Estimated total amount of the allocation base Actual manufacturing overhead cost 8 Actual total amount of the allocation base 6 7 Predetermined overhead rate Machine-hours $ B $ с 409,200 62,000 machine-hours 418,200 60,000 machine-hours If your formulas are correct, you should get the correct answers to the following questions. (a) What is the Predetermined overhead rate? (Round your answer to 2 decimal places.) per machine-hour
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ACTUAL MIDTERM X G company a job-order costing sys X C Solved: 1.Lupo Corporation Uses X b My Questions | bartleby ezto.mheducation.com/ext/map/index.html?_con3Dcon&external browser%30&launchUrl%=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-group/kEZASSBkEPugso6197zDY2jbl3savPgrazaxftVYOlgUJ4J3uEQndHZ99QoKy3mg5kl.. * CTUAL MIDTERM EXAM G Saved Help Save & Exit Sul 12 AZ-99585 company makes and sells two products: Product W446 and Product Z591. The annual production and sales of Product W446 is 1,100 units and of Product Z591 is 300 units. Data concerning the expected production of each product and the expected total direct labor-hours (DLHS) required to produce that output appear below: Direct Total Expected Labor-Hours Direct X 00:34 11 Production Per Unit Labor-Hours Product W446 1,100 2.0 2,200 Product Z591 300 1.0 300 Total direct labor-hours 2,500 The direct labor rate is $2110 per DLH. The direct materials cost per unit is $229.00 for Product W446 and…
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Not yet answered Marked out of 2.00 P Flag question Write in your own words about the main functions of Cost Accounting. A B I |=而

Q5. Explain the treatment of over and under absorption of overheads in cost accounts.
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Question Describe how Required Production in Units is calculated. Do not write formula only. The description should not be longer than a page.
- Refer to the model listed next: Max: Z= 10*x1+6*x2+4*x3; Subject to: x1+x2+x3=0; where x1,x2 and x3 are the number of product 1,2 and 3 produced. (i) (ii) (iii) (iv) (v) 333 (vi) Identify the initial basis with your reason. Show one complete iteration as the solution moves to the next basis. Find the optimal basis. You may solve the problem for the optimal solution using the Lingo software but must validate the optimal basis. Estimate the optimal simplex multipliers. Solve the model using the Lingo software and report the dual prices for each constraint. Compare the optimal simplex multipliers with the shadow prices for different constraints and provide your comments.
Overhead costs are overapplied if the amount applied to Work in Process is: O a. None of the given answer is correct O b. equal to estimated overhead. Oc. equal to actual overhead incurred. O d. less than estimated overhead. O e. less than actual overhead incurred. 5 PAGE Jump to... JIZ TWO
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