Compute the Manufacturing Overhead Applied to Jobs;Direct Materials Used=$300,000,Indirect Materials Used =$75,000, Direct Labor=$250,0000,Indirect Labor=$55,000, Factory Rent Costs=$175,000,The Manufacturing Overhead Application Rate is 133% of DirectLabor Costs.Show your Answer as a Number only with no Symbols, Commas, orDollar Signs.399,000

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Description: Compute the Manufacturing Overhead Applied to Jobs;Direct Materials Used=$300,000,Indirect Materials Used =$75,000, Direct Labor=$250,0000,Indirect Labor=$55,000, Factory Rent Costs=$175,000,The Manufacturing Overhead Application Rate is 133% of Dir

Overhead cost allocation: It is the process of allocating the estimated overhead of a company to its…

Answered: Compute the Manufacturing Overhead…

Business

Accounting

Compute the Manufacturing Overhead Applied to Jobs;

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 1EA: Steeler Towel Company estimates its overhead to be $250,000. It expects to have 100,000 direct labor...

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York Company Is a machine shop that estimated overhead will be $50,000, consisting of 5,000 hours of direct labor. The cost to make job 0325 is $70 in aluminum and two hours of labor at $20 per hour. During the month. York incurs $50 in indirect material cost. $150 in administrative labor, $300 in utilities, and $250 in depreciation expense. What is the predetermined overhead rate if direct labor hours are considered the cost driver? What is the cost of Job 0325? What is the overhead incurred during the month?
Steeler Towel Company estimates its overhead to be $250,000. It expects to have 100,000 direct labor hours costing $2,500,000 in labor and utilizing 12,500 machine hours. Calculate the predetermined overhead rate using: A. Direct labor hours B. Direct labor dollars C. Machine hours
Compute the total job cost for each of the following scenarios: a. If the direct labor cost method is used in applying factory overhead and the predetermined rate is 100%, what amount should be charged to Job 2010 for factory overhead? Assume that direct materials used totaled 5,000 and that the direct labor cost totaled 3,200. b. If the direct labor hour method is used in applying factory overhead and the predetermined rate is 10 an hour, what amount should be charged to Job 2010 for factory overhead? Assume that the direct materials used totaled 5,000, the direct labor cost totaled 3,200, and the number of direct labor hours totaled 250. c. If the machine hour method is used in applying factory overhead and the predetermined rate is 12.50 an hour, what amount should be charged to Job 2010 for factory overhead? Assume that the direct materials used totaled 5,000, the direct labor cost totaled 3,200, the direct labor hours were 250 hours, and the machine hours were 295 hours.
If a company bases its predetermined overhead rate on 100,000 machine hours, and It actually has 100,000 machine hours, would there be an under applied or over applied overhead?
A company calculated the predetermined overhead based on an estimated overhead of $70.000, and the activity for the cost driver was estimated as 2,500 hours. If product A utilized 1,350 hours and product 8 utilized 1,100 hours, what was the total amount of overhead assigned to the products? A. $35000 B. $30.800 C. $37,800 D. $68,600
Green Bay Cheese Company estimates its overhead to be $375,000. It expects to have 125,000 direct labor hours costing $1,500,000 in labor and utilizing 15,000 machine hours. Calculate the predetermined overhead rate using: A. Direct labor hours B. Direct labor dollars C. Machine hours
Cavy Company estimates that total factory overhead costs will be $1,011,028 for the year. Direct labor hours are estimated to be 100,700. a. Determine the predetermined factory overhead rate. Round your answer to the nearest cent.$fill in the blank 8b99eb02a009f9f_1 b. Determine the amount of factory overhead applied to Job 567 if the amount of direct labor hours is 1,200 and Job 999 if the amount of direct labor hours is 2,800. Job 567 $fill in the blank 8b99eb02a009f9f_2 Job 999 $fill in the blank 8b99eb02a009f9f_3 c. Prepare the journal entry to apply factory overhead for April according to the predetermined overhead rate. fill in the blank aa9138f9703b038_2 fill in the blank aa9138f9703b038_4
Cavy Company estimates that total factory overhead costs will be $572,128 for the year. Direct labor hours are estimated to be 94,100. a. Determine the: 1. Predetermined factory overhead rate. Round your answer to the nearest cent.$fill in the blank acece905b02a058_1 per labor hour 2. Amount of factory overhead applied to Job 345 if the amount of direct labor hours is 1,200 and Job 777 if the amount of direct labor hours is 3,300. Job 345 $fill in the blank acece905b02a058_2 Job 777 $fill in the blank acece905b02a058_3 b. Journalize the entry to apply factory overhead for April, assuming Jobs 345 and 777 are the only jobs in production during the month. If an amount box does not require an entry, leave it blank. - Select - - Select - - Select - - Select - - Select - - Select -
Use the following information to answer the question. Estimated manufacturing overhead $180,000 Actual manufacturing overhead $240,000 Estimated direct labour hours 15,000 Actual direct labour hours worked 16,000 The predetermined overhead rate for applying manufacturing overhead would be:
A company estimates the following manufacturing costs at the beginning of the period: direct labor, $488,000; direct materials, $204,000; and factory overhead, $137,000. Required: 1. Compute its predetermined overhead rate as a percent of direct labor. 2. Compute its predetermined overhead rate as a percent of direct materials. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute its predetermined overhead rate as a percent of direct labor. Numerator: Overhead Rate Denominator: Overhead Rate = Overhead Rate
Cavy Company estimates that total factory overhead costs will be $747,937 for the year. Direct labor hours are estimated to be 104,900. a. Determine the:1. Predetermined factory overhead rate. Round your answer to the nearest cent.2. Amount of factory overhead applied to Job 345 if the amount of direct labor hours is 1,000 and Job 777 if the amount of direct labor hours is 3,000. Job 345 Job 777 b. Journalize the entry to apply factory overhead for April, assuming Jobs 345 and 777 are the only jobs in production during the month. If an amount box does not require an entry, leave it blank.
Cavy Company estimates that total factory overhead costs will be $660,000 for the year. Direct labor hours are estimated to be 100,000. a. Compute the predetermined factory overhead rate. Round your answer to the nearest cent.$ per direct labor hour b. Determine the amount of factory overhead applied to Job 345 if the amount of direct labor hours is 560 and to Job 777 if the amount of direct labor hours is 800. Job 345 $ Job 777 $ c. Journalize the entry to record the factory overhead applied if Jobs 345 and 777 are the only jobs for the period. If an amount box does not require an entry, leave it blank.