FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Figuring a predetermined overhead rate using direct materials as the allocation base. $130500 estimated manufacturing overhead cost and $87000 as allocation base. Then whats next in the formulaarrow_forwardOwe Subject: acountingarrow_forward(c) Calculate the total manufacturing overhead cost for the period. $ __________________ (d) Calculate the total manufacturing cost for the period. $ __________________arrow_forward
- The following information has been collected from the cost records of P&L company for theyear ended 31st October, 2021:Direct Materials 500,000Direct Labour 400,000Direct Expenses 40,000Works Overheads 320,000Office Expenses 189,000The total number of direct labour hours were 200,000 involving 80,000 machine hours.I. Calculate the percentage on direct wagesII. Calculate the productive labour hours rateIII. Calculate the machine hour ratearrow_forwardapplying factory overhead should be direct labor hours, which are estimated to be 96,900 hours. Question Content Area a. Compute the predetermined factory overhead rate. Round your answer to the nearest cent.fill in the blank 1 of 1$ per direct labor hour b. Determine the amount of factory overhead applied to Job 345 if the amount of direct labor hours is 1,200 and to Job 777 if the amount of direct labor hours is 3,000.Job 345 fill in the blank 1 of 1$Job 777 fill in the blank 1 of 1$ Question Content Area c. Journalize the entry for the factory overhead applied if Jobs 345 and 777 are the only jobs for the period. If an amount box does not require an entry, leave it blank. blank Account Debit Credit blankarrow_forwardThe related data of Manushi Company: Actual direct labor hours 10,000 Actual overhead cost 682,500 Overapplied factory overhead 125,700 Factory overhead is based on direct labor hours. How much is the predetermined rate?arrow_forward
- 11. Subject:- Accountingarrow_forward2.A company makes two products 1 and 2. The finishing activity pool has estimated manufacuring costs of $82,749 and the cost drivers for Product 1 is 359 and 282 for Product 2. The assembling activity pool has estimated costs of $63,039 and the cost drivers for Product 1 is 200 and 300 for Product 2. Direct labor hours for Product 1 is 497and 303 for Product 2. What is the total manufacturing overhead cost to be assigned to Product 1 using a single overhead rate as under tradional cost accounting? Round your final answer to the nearest whole dollar and do not put a dollar sign in your answer.arrow_forwardPlease help complete parts of question 1 1a. If 8,000 units are produced, what is the total amount of manufacturing overhead cost incurred to support this level of production at is this total amount expressed on a per unit basis? (Round your "per unit" answer to 2 decimal places.) Total manufacturing overhead cost: Manufacturing overhead per unit it: 1b. If 12,500 units are produced, what is the total amount of manufacturing overhead cost incurred to support this level of production? What is this total amount expressed on a per unit basis? (Round your "per unit" answer to 2 decimal places.) Total manufacturing overhead cost: Manufacturing overhead per unit: 1c. If the selling price is $22 per unit, what is the contribution margin per unit? (Do not round intermediate calculations. Round you answer to 2 decimal places.) 1d. If 11,000 units are produced, what are the total amounts of direct and indirect manufacturing costs incurred to support this leve production? (Do not round…arrow_forward
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