Blueberry Corp. uses a job order costing system with manufacturing overhead applied to products on the basis of machine hours. For the upcoming year, Blueberry Corp. estimated total manufacturing overhead cost at $440,300 and total machine hours of 47,600. During the year actual manufacturing overhead incurred was $432,960 and 49,200 machine hours were used. (a) Calculate the predetermined overhead rate. (Round your answer to 2 decimal places.) Predetermined Overhead Rate per hour (b) Calculate how much manufacturing overhead will be applied to production. Manufacturing Overhead Applied (c) Is overhead over- or underapplied? By how much? (Input the amount as positive value.)

Blueberry Corp. uses a job order costing system with manufacturing overhead applied to products on the basis of machine hours. For the upcoming year, Blueberry Corp. estimated total manufacturing overhead cost at $440,300 and total machine hours of 47,600. During the year actual manufacturing overhead incurred was $432,960 and 49,200 machine hours were used. (a) Calculate the predetermined overhead rate. (Round your answer to 2 decimal places.) Predetermined Overhead Rate per hour (b) Calculate how much manufacturing overhead will be applied to production. Manufacturing Overhead Applied (c) Is overhead over- or underapplied? By how much? (Input the amount as positive value.)

Name: Blueberry Corp. uses a job order costing system with manufacturing ov
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Description: Blueberry Corp. uses a job order costing system with manufacturing overhead applied to products on the basis of machine hours. Forthe upcoming year, Blueberry Corp. estimated total manufacturing overhead cost at $440,300 and total machine hours of 4

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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Company uses a job-order costing system and applies manufacturing overhead cost to jobs on the basis of the cost of materials used in production. At the beginning of the most recent year, the following estimates were made as a basis for computing the predetermined overhead rate for the year: manufacturing overhead cost : 200,000 direct material cost: 160,000 Raw materials purchased: $86,000.Raw materials requisitioned for use in production (all direct materials): $98,000.What is the journal entry for"Manufacturing overhead cost was applied to jobs as per company policy."
The following information applies to Your Company for the current year: Direct labor-hours: Estimated for the year. 85,000 Actual hours worked. 80,000 Machine hours Estimated for the year. 92,000 Actual hours worked. 95,000 Manufacturing overhead: Estimated for the year $192,000 Actual cost incurred 200,000 Overhead cost is applied to production on a basis of direct labor hours. What is the predetermined overhead rate (round if necessary)? Group of answer choices $2.35 $2.09 $2.26 $2.40 $2.50
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XYZ Company has two production departments, Machining and Customizing. The company uses a job- order costing system and computes a predetermined overhead rate (POHR) in each department. The Machining Department's POHR is based on machine- hours (Mhrs) and the Customizing Department's POHR is based on direct labor-hours (DLH). At the beginning of the current year, the company estimated the following yearly Mhrs and DLH to be used in each department: 20,000 Mhrs and 15,000 DLH in the Marching Department; 10,000 Mhrs and 25,000 DLH in the Customizing Department. The company also estimated the yearly total manufacturing overhead cost in each department: OMR150,000 in the Machining Department and OMR100,000 in the Customizing Department. During the year, Job XY incurred the following numbber of hours in each department: 58 Mhrs and 30 DLH in the Machining Department; and 80 Mhrs and 50 DLH in the- Customizing Department. What is the total amount of manufacturing overhead that should be…
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