ABC company had the following transactions and events during the ycar ended 31 March 2022. The company uses direct labor dollars as the allocation base. For the current year, the estimated overhead was $777,000 and estimated direct labor cost was $350,000. Actual costs incurred follows: a. Purchased raw materials on account, $567,000. b. 10% of raw materials purchased was requisitioned as indirect materials. c. Direct labor for production is $320,000, indirect labor is $125,000. d. Some costs for the company and their percentage for factory are shown below, with the remaining percentage for administration costs. Other costs for Total Percentage spent in factory the company Property tax 100,000 90% Utilities 90,000 89% Depreciation 150,000 75%

During 2022, Carla Vista Company incurred the following direct labor costs: January $19,200 and February $28,800. Carla Vista uses a predetermined overhead rate of 120% of direct labor cost. Estimated-overhead for the 2 months, respectively, totaled $18,720 and $34,272. Actual overhead for the 2 months, respectively, totaled $24,000 and $32,160. Calculate overhead applied. January February $ Determine if overhead is over- or underapplied for each of the two months and the respective amounts. January $ February I

At the beginning of the year, Custom Manufacturing set its predetermined overhead rate using the following estimates: overhead costs, $520,000, and direct materials costs, $200,000.At year-end, the company reports that actual overhead costs for the year are $528,700 and actual direct materials costs for the year are $200,000. 1. Determine the predetermined overhead rate using estimated direct materials costs 2. Enter the actual overhead costs incurred and the amount of overhead cost applied to jobs during the year using the predetermined overhead rate. Determine whether overhead is over- or underapplied (and the amount) for the year. 3. Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Enter the actual overhead costs incurred and the amount of overhead cost applied to jobs during the year using the predetermined overhead rate. Determine whether overhead…

Baltimore Manufacturing had a Work in Process balance of $64,000 on January 1, 2018. The year-end balance of Work in Process was $51,000 and the Cost of Goods Manufactured was $500,000. Use this information to determine the total manufacturing costs incurred during the fiscal year 2018.

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The following information provides the amount of cost incurred in Merch for the cost items indicated. During March 8,500 units of the firm's single product were manufactured Factory depreciation exper rect Ser Production servi Сперитет гента и an is Required 141.200 a. How much cost would you expect to be incurred for each of these items during Apr when 9.700 units of the product are planned for production? (Do not round intermedine calcul Factory on exper D Potion superviso Frey 1 of 13 Next >

Lonestar Corporation has the following information for the year: Materials placed into production Indirect labor Direct labor (10,000 hours) Depreciation of factory building Other factory overhead Increase in work-in-process inventory $140,000 40,000 160,000 60,000 100,000 30,000 Factory overhead is applied at a predetermined overhead rate of $18 per direct labor hour. What is the amount of under- or overapplied overhead for Lonestar Corporation for the year? Oa. $20,000 underapplied Ob. $40,000 underapplied Oc. $40,000 overapplied Od. $20,000 overapplied

Submit UOJPBY781 Corp.s manufacturing overhead for the year was estimated to be $783,200 at the begining of the year. O Quiz Tools At the end of the year, UOJPBY781's actual direct labor-hours for the year were 36,260 hours. (ID#65031) UOJPBY781's actual manufacturing overhead for the year was $760,000. 100% UOJPBY781's manufacturing overhead for the year was overapplied by $37,720. Collapse Q.) If UOJPBY781's predetermined overhead rate is based on direct labor-hours, then the estimated direct labor-hours at the beginning of the year used in the predetermined overhead rate must have been: (Round your intermediate calculations to 2 decimal places.) Multiple Choice 32,831 direct labor-hours 36,260 direct labor-hours 35,600 direct labor-hours MacBook Air ...