alculate the direct cost of labor for a project team member using the following data: Hourly rate: $50/hr Hours needed: 120 Overhead rate: 40%

Sphinx Company projected the following overhead costs and cost drivers: Overhead Item Expected Costs Cost Driver Expected Quantity Setup costs $121,500 Number of setups 50 Ordering costs 40,500 Number of orders 30 Maintenance 174,000 Machine-hours 600 Power 27,000 Kilowatt-hours 600 Total overhead cost 363,000 Direct Labor Hours 500 Sphinx contracted for 2 jobs, both of which were completed during the year. Production managers reported the following data in relation to these jobs:    Job 1 Job 2 Direct materials $170,000 $120,000 Direct labor $14,000 $11,000 Direct labor-hours 300 220 Number of setups 25 23 Number of orders 20 13 Machine-hours 410 200 Kilowatt-hours 380 240 If Sphinx uses activity based costing method to determine the overhead cost. How much overhead costs should be assigned to Job 1. Show the calculation steps and clearly indicate the…

Rocks Industries has identified three different activities as cost drivers: machine setups, machine hours, and inspections. The overhead and estimated usage are: Activity Overhead per Activity Annual Usage Machine Set Up $75,000 6,000 Machine Hours $85,002 5,484 Inspections $70,000 20,000 Compute the overhead rate for each activity.

Sagar

Mountain Peaks applies overhead on the basis of machine hours and reports the following information: Budget Actual $150,000 30,000 Overhead Machine hours Direct materials Direct labor A. What is the predetermined overhead rate? 5✓ per machine hour B. How much overhead was applied during the year? 135,000✔ machine hours $144,000 27,000 $210,000 $350,000 C. Was overhead over- or underapplied, and by what amount? 9,000 ✓ Underapplied Feedback Check My Work Use budgeted amounts to calculate the predetermined overhead rate. The amount is then used to determine the overhead applied (along with ot overapplied. D. What is the journal entry to dispose of the over- or underapplied overhead? If an amount box does not require an entry, leave it blank. Cost of Goods Sold 18 Manufacturing Overhead

Mountain Peaks applies overhead on the basis of machine hours and reports the following information: Budget Actual $150,000 30,000 Overhead Machine hours Direct materials Direct labor $144,000 27,000 $210,000 $350,000 A. What is the predetermined overhead rate? per machine hour B. How much overhead was applied during the year? machine hours C. Was overhead over- or underapplied, and by what amount? Underapplied

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 formula

Your task is to calculate from the following information the:  ( a )Conversion cost ( b )Product cost ( c )Prime cost ( d ) Period cost ( e ) Expected manufacturing overhead cost for a production level of 60,000 units.   Zou Pty Ltd prepared a summary showing the following expected costs for a production level of 50,000 units: Direct labour $ 80,000 Fixed manufacturing overhead 60,000 Fixed selling and administration 110,000 Variable manufacturing overhead 30,000 Variable manufacturing 250,000 Variable selling 70,000 Zou Pty Ltd accounts for all manufacturing costs as inventorial (product) costs.

Arbor, Inc. has estimated overhead to be $315,000 and labor hours to be 35,000. Actual overhead turned out to be $325,000 when 35,500 labor hours were worked. The predetermined overhead rate would be:   Multiple Choice   82.39%.   $9.00.   $9.15.   $9.29.

Singh and Danzin is an architectural firm that provides services for residential construction projects. The following overhead cost data are from the current period. Budgeted Costs Budgeted Activity Usage contact Activity Client consultation $ 292,500 1,500 hours design hours Drawings 130,000 2,000 1. Compute an activity rate for each activity using activity-based costing. 2. Allocate overhead cost to a job that requires 60 contact hours and 355 design hours. 1. Compute an activity rate for each activity using activity-based costing. (Round "Activity rate" to 2 decimal places.) Budgeted Cost Activity Budgeted Activity Usage Activity Rate Client consultation Drawings 2. Allocate overhead cost to a job that requires 60 contact hours and 355 design hours. (Round "Activity Rate" to 2 decimal places and other answers to the nearest whole dollar amount.) Activity Activity Usage Activity Rate Allocated Cost Client consultation Drawings