is applied on the basis of machine hours required for cutting and fabricating. A predetermined overhead application rate of $12.70 per machine hour was established for 2019. Required: If 9,000 machine hours were expected to be used during 2019, how much overhead was expected to be incurred? Actual overhead incurred during 2019

is applied on the basis of machine hours required for cutting and fabricating. A predetermined overhead application rate of $12.70 per machine hour was established for 2019. Required: If 9,000 machine hours were expected to be used during 2019, how much overhead was expected to be incurred? Actual overhead incurred during 2019

Name: Checker Inc. produces automobile bumpers. Overhead is applied on the b
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Description: Checker Inc. produces automobile bumpers. Overhead is applied on the basis of machine hours required for cutting and fabricating. A predetermined overhead application rate of $12.70 per machine hour was established for 2019. Required:If 9,000 machine

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 11PA: When setting its predetermined overhead application race, Tasty Box Meals estimated its overhead...

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Strong Company applies overhead based on machine hours. At the beginning of 2018, the company estimated that manufacturing overhead would be OMR 120,000, and machine hours would total 15,000. By 2018 year-end, actual overhead totaled OMR 140,000, and actual machine hours were 20,000. On the basis of this information, the 2018 predetermined overhead rate was:
Michael Scott Paper Co. uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on the machine hours required.At the beginning of 2020, the company expected to incur the following:Michael Scott Paper Co.Beginning of 2020 Manufacturing overhead costs $1,001,910 Direct labor costs $1,512,800 Number of Machine hours to be used 73,400 At the end of 2020, the company had actually incurred:Michael Scott Paper Co.End of 2020 Direct labor costs $1,219,700 Depreciation on manufacturing plant equipment $596,400 Property taxes on plant $39,600 Sales Salaries $28,400 Delivery drivers wages $25,600 Plant janitor's wages $17,100 Number of Machine hours actually used 65,700 (Round your answers to two decimal places when needed and use rounded answers for all future calculations).1. Compute the predetermined overhead allocation rate. Total estimated overhead cost ? Total estimated quantity of the overhead allocation base =…
Midwest Corporation has provided the following data concerning manufacturing overhead for 2020: Estimated manufacturing overhead for the year $ 30,000 Estimated direct labor hours for the year 2,000 Two jobs were worked on during the year: Job A-101 and Job A-102. The number of direct labor-hours spent on Job A-101 and Job A-102 were 1,200 and 1,000, respectively. The actual manufacturing overhead was $37,000.What is the amount of the under- or overapplied manufacturing overhead? A $3,000 overapplied. B $4,000 underapplied. C $7,000 overapplied. D $1,000 underapplied.
Midwest Corporation has provided the following data concerning manufacturing overhead for 2020: Estimated manufacturing overhead for the year $ 30,000 Estimated direct labor hours for the year 2,000 Two jobs were worked on during the year: Job A-101 and Job A-102. The number of direct labor-hours spent on Job A-101 and Job A-102 were 1,200 and 1,000, respectively. The actual manufacturing overhead was $37,000.What is the amount of the under- or overapplied manufacturing overhead?
During 2019, Sheridan Company expected Job no. 59 to cost $200000 of overhead, $500000 of materials, and $100000 in labor. Sheridan applied overhead based on direct labor cost. Actual production required an overhead cost of $195000, $660000 in materials used, and $310000 in labor. All of the goods were completed. How much is the amount of over- or underapplied overhead? $5000 overapplied $5000 underapplied $425000 overapplied $425000 underapplied
During March 2019, Annapolis Corporation recorded $42,400 of costs related to factory overhead. Alpha's overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $42,700 would be incurred, and 4,500 direct labor hours would be worked. During March, 6,250 hours were actually worked. Use this information to determine the amount of factory overhead that was (over) or under applied.
Midwest Corporation has provided the following data concerning manufacturing overhead for 2020: Estimated manufacturing overhead for the year $ 30,000 Estimated direct labor hours for the year 2,000 Two jobs were worked on during the year: Job A-101 and Job A-102. The number of direct labor-hours spent on Job A-101 and Job A-102 were 1,200 and 1,000, respectively. The actual manufacturing overhead was $37,000.What was the amount of manufacturing overhead applied to Job A-101? $24,000. $44,000. $18,000. $16,000.
2. Hayday Enterprises applies manufacturing overhead on the basis of machine-hours. At the beginning of 2019, the cost accountant estimated the following cost information for the year: Total DM Costs $440,000 Total DL Costs $890,000 Total MOH Costs $754,000 Total Machine Hours 2,000 Total DL Hours 90,000 At the end of 2019, Hayday Enterprises' cost accountant noted that the company used 2,500 machine hours and actual MOH was $912,000. Was manufacturing overhead under-applied or over-applied and by how much? Provide over-application as a positive number, and under-application as a negative.
Lakeshore Company allocates overhead using direct labour-hours. For 2020, the estimated and actual labour-hours were 182,000 and 168,000 respectively, and the predetermined overhead rate used to apply overhead for the year was $24.40 per direct labour-hour. The manufacturing overhead control T-account showed a credit balance of $184,600 at the end of the year, and this balance was disposed of at the end of the year by closing it to cost of goods sold. Required: 1. Was manufacturing overhead under- or overapplied? multiple choice 1 Underapplied Overapplied 2. Compute the actual overhead amount incurred over the year. Actual Overhead 3. How will end-of-period disposal of this amount impact net income? multiple choice 2 Increase Decrease
Win Company fabricated equipment for its office use in the company’s plant during 2019. The following data were taken from the company’s records of materials and direct labor, respectively: 1. Finished Goods: Materials- P1,000,000; Direct Labor- P1,500,000 2. Office equipment: Materials- P600,000; Direct Labor- P500,000 Factory overhead for the period amounted to P1,200,000. Normal production of the finished goods is 50,000 units. Due to the fabrication of the office equipment, finished goods produced totaled 35,000 units only during 2019. The office equipment is to be charged with the overhead which would have been apportioned to the 15,000 units that were not produced. What is the cost of the equipment after apportionment of factory overhead?
Al Shams Manufacturing LLC has furnished the following information for the month of March 2019: Materials used is RO 45,000, Direct labor is RO 28,000, Labor hours worked is 7,000, Hours of machine operation is 5,000 and Overhead cost is RO 21,000. The department during the period has executed an order (job). The relevant information is as follows: Materials used is RO 2,000, Direct labor is RO 1,200, Labor hours worked is 500 and Hours of machines operation is 225. Calculate the overhead chargeable to the job based on percentage of direct material cost. a. RO 945 b. RO 900 c. RO 933 d. RO 1500
Al Sur Manufacturing LLC has furnished the following information for the month of January 2020: Materials used is RO 10,000, Direct labor is RO 20,000, Labor hours worked is 3,000, Hours of machine operation is 2000 and Overhead cost is RO 5000.The department during the period has executed an order. The relevant information is as follows: Materials used is RO 5,000, Direct labor is RO 3000, Labor hours worked is 500 and Hours of machines operation is 300. Calculate the overhead chargeable to the job based on percentage of direct labor cost. a. RO 750 b. RO 835 c. RO 2,500 d. RO 900