A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $355,200 and direct labor hours would be 48,200. Actual manufacturing overhead costs incurred were $307,700, and actual direct labor hours were 51,900. What is the predetermined overhead rate per direct labor hour? a. $7.37 Ob. $8.84 Oc. $11.05 Od. $5.90

A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $355,200 and direct labor hours would be 48,200. Actual manufacturing overhead costs incurred were $307,700, and actual direct labor hours were 51,900. What is the predetermined overhead rate per direct labor hour? a. $7.37 Ob. $8.84 Oc. $11.05 Od. $5.90

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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The following information pertains to Whitestone Industries for the year: Estimated total overhead costs Estimated direct labor costs Actual direct labor costs Actual overhead costs Activity base $37,500 25,000 22,500 36,000 Direct labor costs What is the predetermined overhead rate for Whitestone Industries for the year? Oa. 62.5% Ob. 66.7% Oc. 150% Od. 160%
A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that total factory overhead costs would be $466,920 and direct labor hours would be 46,692. Actual factory overhead costs incurred were $496,253, and actual direct labor hours were 51,693. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year? O $516,930 overapplied Ob. $50,010 underapplied Oc. $20,677 overapplied Od. $20,677 underapplied
Note : A short answer please .
Assume the following: 1. Estimated fixed manufacturing overhead for the coming period of $220,000 2. Estimated variable manufacturing overhead of $2.00 per direct labor hour 3. Actual manufacturing overhead for the period of $320,000 4. Actual direct labor-hours worked of 54,000 hours 5. 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. Multiple Choice $325,926. $324,000. $336,004.
The 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?
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At the beginning of the year, a company estimated a predetermined plantwide overhead rate of $8.50 per machine - hour. Job X used 16 machine-hours and it was charged $200 and $288 for direct materials and direct labor, respectively. What is the total job cost for Job X? A. $446 B. $136 C. $624 D. $488
d. Assume that the actual level of activity next year was 36,000 direct labor hours and that manufactur- ing overhead was $341,550. Determine the underapplied or overapplied manufacturing overhead at the end of the year. e. Describe two ways of handling any underapplied or overapplied manufacturing overhead at the end of the year. e. Describe two ways of handling any underapplied or overapplied manufacturing overhead at the end of the year.
Reynolds Manufacturers Inc. has estimated total factory overhead costs of $113,400 and expected direct labor hours of 12,600 for the current fiscal year. If Job 117 incurs 1,460 direct labor hours, Work in Process will be debited and Factory Overhead will be credited for a. $13,140 b. $56,700 c. $113,400 d. $1,460
Here are selected data for Wilson Company Estimated manufacturing overhead Estimated labor hours Actual direct labor hours Estimated direct labor cost Actual direct labor cost Factory depreciation $257,750 35,000 36,000 $330,400 $320,300 $65,400 If the company allocates overhead based on direct labor cost, what is the predetermined manufacturing overhead rate? OA. 78% of direct labor cost OB. 80 % of direct labor cost OC. 128% of direct labor cost OD. 103% of direct labor cost Factory utilities Indirect labor Sales commissions Factory rent Factory property taxes. Indirect materials COS $30,200 $22,400 $53,700 $47,700 $28,100 $33,000
BFAR Company used a predetermined overhead rate last year of P2 per direct labor hour, based on an estimate of 87,500 direct labor hours to be worked during the year. Actual costs and activity during the year were: Actual manufacturing overhead cost incurred ........... P176,500 Actual direct labor hours worked ........... 90,000 Compute the under- or overapplied overhead. Encode the value as is if underapplied. Encode the answer as a negative amount if overapplied.
A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $349,900 and direct labor hours would be 47,000. Actual manufacturing overhead costs incurred were $303,900, and actual direct labor hours were 52,500. The journal entry to apply factory overhead costs for the year would include a A. Credit to factory overhead for 349,900 B. Debit to factory overhead for 390,600 C. Credit to factory overhead for $390,600 D. Debit to factory overhead for $303,900