Please solve this MCQs At the beginning of the year, manufacturing overhead for the year was estimated to be $267,500. At the end of the year, actual direct labor-hours for the year were 22,100 hours, the actual manufacturing overhead for the year was $262,500, and manufacturing overhead for the year was overapplied by $13,750. If the predetermined overhead rate is based on direct labor-hours, then the estimated direct labor-hours at the beginning of the year used to calculate the predetermined overhead rate was:       22,100 direct labor-hours.     21,000 direct labor-hours.     21,400 direct labor-hours.     19,900 direct labor-hours.

Q: Manufacturing overhead was estimated to be OMR 400,000 for the year along with 20,000 direct labor…

A: Predetermined overhead rate = estimated manufacturing overhead / estimated direct labor hours…

Q: Mehboob Corporation calculate its predetermined overhead rate on the basis of estimated…

A: Predetermined fixed overhead rate = Estimated total fixed manufacturing overhead / Estimated Machine…

Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of…

A: Pre-determined overhead rate is used to apply manufacturing overhead to work-in-progress inventory.

Q: Midwest Corporation has provided the following data concerning manufacturing overhead for 2020:…

A: Under applied overhead = Actual overhead - Expected overhead

Q: Aaron Company estimates direct labor costs and manufacturing overhead costs for the coming year to…

A: Overheads are considered as fixed and common expenses that should be allocated to the products on…

Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of…

A:

Q: XYZ Company had the following information available for the last year: manufacturing overhead for…

A: Applied overhead = Actual manufacturing overhead + Overapplied overhead = OMR 250,000 + 10200 = OMR…

Q: Crich Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of…

A: Overhead costs are those expenses that must be incurred in order to run a firm but cannot be clearly…

Q: Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor hours.…

A: Predetermined overhead rate: Predetermined overhead rate is calculated befor the period begins. This…

Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of…

A: Predetermined overhead rate = Estimated factory overhead costs / direct labor hours  = $238,800 /…

Q: manufacturing company applies factory overhead based on direct labor hours. At the beginning of the…

A: Solution: Applied overhead is the overhead which is applied to production based on predetermined…

Q: The estimated manufacturing overhead at the beginning of the year used to calculate the…

A: 21600

Q: Mehboob Corporation calculate its predetermined overhead rate on the basis of estimated…

A: Predetermined Overhead Rate =  Total Estimated Fixed Manufacturing OverheadTotal Estimated Machine…

Q: WYENNE Corporation uses a predetermined overhead application rate of P.30 per direct labor hour.…

A: Overheads are the indirect costs and expenses related to production and manufacturing of goods.…

Q: Hanif Corporation uses a predetermined overhead rate based on direct labor-hours to apply…

A: Direct labor cost are those cost which incurred directly on the good in the manufacturing process of…

Q: Winston Company estimates that the factory overhead for the following year will be $833,900. The…

A: Pre-Determined Manufacturing Overhead: Pre-Determined Manufacturing Overhead Rate is an allocation…

Q: The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the…

A: Formula: Predetermined overhead rate = ( Estimated factory overhead / Estimated direct labor costs )…

Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of…

A: Direct labor is the labor used for direct production.  Factory…

Q: Manufacturing overhead was estimated to be OMR 200,000 for the year along with 20,000 direct labor…

A: Overhead means the cost incurred indirectly for the production of goods.

Q: A company estimates its manufacturing overhead will be $882,760 for the next year. What is the…

A: Predetermined overhead rate = Estimated manufacturing overhead/Allocation base

Q: XYZ Company had the following information available for the last year: manufacturing overhead for…

A: As the questions asked have more than 1 question, the first question is answered. If you want the…

Q: Giannitti Corporation bases its predetermined overhead rate on the estimated machine-hours for the…

A: Predetermined overhead rates are used to allocate the indirect cost. It can be allocated on the…

Q: Winston Company estimates that the factory overhead for the following year will be $1,134,000. The…

A: Budgeted overhead = $1,134,000 Budgeted Machine Hours = 37,800 Thus Rate at which overhead will be…

Q: d. Assume that the actual level of activity next year was 36,000 direct labor hours and that…

A: As we know that Pre-determined overhead rate can be calculated using the formula given below. The…

Q: During March 2020, Polaro Corporation recorded P40,200 of costs related to factory overhead.…

A: Overheads which was estimated=P40,900 Estimated direct labor hours=5,000 hours Actual hours worked…

Q: Black Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided…

A: solution given Estimated manufacturing overhead $139,080 Estimated machine-hours 3800…

Q: Your Corporation uses a predetermined overhead rate based on direct labor hours to apply…

A: 1) predetermined overhead rate   assessed moh/assessed direct work cost   1,200,000/(50,000*12)…

Q: ch Solutions computes its predetermined overhead rate annually on the basis of direct labor-hours.…

A: The predetermined overhead rate is calculated as follows: Predetermined overhead rate = Estimated…

Q: At the beginning of the year, Vaughn Manufacturing estimates annual overhead costs to be $2400000…

A: The question is based on the concept of Cost Accounting.

Q: Acheson Corporation, which applies manufacturing overhead on the basis of machine-hours, has…

A: Predetermined overhead rate = Estimated manufacturing overhead/Estimated machine hours

Q: A manufacturing company applies factory overhead based on direct labor hours. At the     beginning…

A: Underapplied and Overapplied overhead: Underapplied overhead refers to a situation that arises when…

Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of…

A: Predetermined overhead rate = Estimated factory overhead costs / Estimated direct labor hours  =…

Q: XYZ Corporation uses a predetermined overhead application rate of P.30 per direct labor hour. During…

A: Actual hours = applied overhead / predetermined overhead application rate  = P363,000 /0.30 =…

Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of…

A: Overheads are applied as follows -                     It is given that estimated overhead cost is…

Q: Onix Manufacturing Company Inc uses direct labor hours in its predetermined overhead rate. At the…

A: Lets understand the basics. Overhead rate is calculated to applied on actual output using below…

Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of…

A: Applied overhead = Actual hours x overhead rate Where,  Overhead rate = estimated factory overhead…

Q: silver company uses direct labor-hours in its predetermined overhead rate. At the beginning of the…

A: The manufacturing overhead are said to be underapplied when actual overheads are more than the…

Q: Bernson Corporation is using a predetermined overhead rate that was based on estimated total fixed…

A: The correct answer is $464,120.

Q: Gilchrist Corporation bases its predetermined overhead rate on the estimated machine-hours for the…

A: At the start of the accounting period, a predetermined overhead rate is calculated by dividing the…

Q: Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning…

A: Lets understand the basics. Predetermine overhead rate is a overhead rate which is calculate to…

Q: XYZ Company had the following information available for the last year: manufacturing overhead for…

A: Direct costs are the costs which can be directly traced to the cost object that we are trying to…

Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of…

A: Predetermined overhead rate is used to compute the overhead applied to the manufacturing company.…

Q: ​Lakeside, Inc. estimated manufacturing overhead costs for the year at $374,000​, based on 182,000…

A: Overheads are considered as fixed and common expenses that should be allocated to the products on…

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.