b. Direct-laborers worked 56,000 hours at a rate of $16.00 per hour. c. Total variable manufacturing overhead for the month was $524,720. nmissions and shipping

Sagon Corporation has provided data concerning the Corporation's Manufacturing Overhead account for the month of September. Prior to the closing of the overapplied or underapplied balance to Cost of Goods Sold, the total of the debits to the Manufacturing Overhead account was $76,000 and the total of the credits to the account was $66,000. Which of the following statements is true?

The following costs were incurred during the month of June: Direct Materials $34,000 Direct Labor $72,000 Variable Manufacturing Overhead $3,000 Fixed Manufacturing Overhead $16,000 Selling Expenses $13,000 Administrative Expenses $16,000 What were the total inventoriable costs for June?

Direct materials used in production totaled $280,000. Direct labor was $375,000, and $180,000 of manufacturing overhead was added to production for the month. What were total manufacturing costs incurred for the month?

Walton Company incurred manufacturing overhead cost for the year as follows.      Direct materials $ 39.00 /unit Direct labor $ 27.40 /unit Manufacturing overhead       Variable $ 11.10 /unit Fixed ($18.80/unit for 1,900 units) $ 35,720   Variable selling and administrative expenses $ 10,360   Fixed selling and administrative expenses $ 15,500     The company produced 1,900 units and sold 1,400 of them at $182.00 per unit. Assume that the production manager is paid a 1 percent bonus based on the company’s net income.  Required Prepare an income statement using absorption costing. Prepare an income statement using variable costing. Determine the manager’s bonus using each approach. Which approach would you recommend for internal reporting?

1A company estimated 100,000 direct labor hours and $800,000 in overhead. The actual overhead was $805,100, and there were 99,900 direct labor hours. What is the predetermined overhead rate, and how much was applied during the year?

If estimated annual factory overhead is $768,000; overhead is applied using direct labor hours; estimated annual direct labor hours are 240,000; actual March factory overhead is $68,800; and actual March direct labor hours are 21,000; then overhead is:

Princeton Manufacturing Company summarizes the following total cost data for the month of March. Princeton has a normal capacity per month of 25,000 units of product that sell for $40 each. For the foreseeable future, sales volume should equal normal capacity of production. Direct material $295,000 Direct labor 165,000 Variable overhead 85,000 Fixed overhead (Note 1) 140,000 Selling expense (Note 2) 80,000 Administrative expense (fixed) 56,000   $821,000 Notes:1. Beyond normal capacity, fixed overhead cost increases $6,350 for each 1,000 units or fraction thereof until a maximum capacity of 30,000 units is reached.2. Selling expenses are a 5% sales commission plus shipping costs of $1.20 per unit. a. Using the information available, prepare a formula to estimate Princeton's total cost at various production volumes up to normal capacity.   b. Prove your answer in requirement (a) relative to the total cost figure for 25,000 units.   c. Calculate the planned total…

1. For KnightRider Company, the predetermined overhead rate is 150% of direct labor cost. During the month, KnightRider incurred $100,000 of factory labor costs, of which $85,000 is direct labor and $15,000 is indirect labor. Actual overhead incurred was $120,000. Required: Compute the amount of manufacturing overhead applied during the month. Determine the amount of under or over applied manufacturing overhead.

Direct labor hours are estimated as 1,900 in Quarter 1; 2,000 in Quarter 2; 1,800 in Quarter 3; and 2,200 in Quarter 4. Indirect material per hour $1.00 Supervisory salaries $16,000 Indirect labor per hour 1.25 Maintenance Salaries 4,000 Maintenance per hour 0.25 Property taxes and insurance 6,000 Utilities per hour 0.50 Depreciation 3,500 Prepare a manufacturing overhead budget using the above overhead information. Manufacturing Overhead Budget For the Year Ending Dec. 31, 2020 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total Variable Costs Total Variable Manufacturing Costs $ Fixed Costs Total Fixed Manufacturing Costs Total Manufacturing Overhead