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.

A company bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 75,000 labor-hours. The estimated variable manufacturing overhead was $10.70 per labor-hour and the estimated total fixed manufacturing overhead was $1,237,500. The actual labor-hours for the year turned out to be 78,100 labor-hours. Compute the company's predetermined overhead rate for the recently completed year. (Round your answer to2 decimal places.) Predetermined overhead rate per labor-hour

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…

A manufacturing company applies overhead based on direct labor hours. At the beginning of the year, it was estimated that overhead costs would be $450,000 and direct labor hours would be 90,000. Actual overhead costs incurred were $459,000 and actual direct labor hours were 95,000. What is the amount of overapplied or underapplied overhead at the end of the year? A. $16,000 overapplied B. $16,000 underapplied C. $9,000 overapplied D. $9,000 underapplied

Longobardi Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the Corporation estimated the labor-hours for the upcoming year at 49,200 labor-hours. The estimated variable manufacturing overhead was $6.38 per labor-hour and the estimated total fixed manufacturing overhead was $1,383,504. The actual labor-hours for the year turned out to be 46,400 labor-hours. The predetermined overhead rate for the recently completed year was closest to:

Online A company uses direct labor-hours for its predetermined overhead rate. The company estimated direct labor-hours would be 25,000 hours and the total estimated manufacturing overhead would be $500,000. At the end of the year, actual direct labor-hours for the year were 23,000 hours and the actual manufacturing overhead for the year was $490,000. Overhead at the end of the year was: (Do not round your intermediate calculations.) Multiple Choice