J 1 Chapter 17 Homework2SkippedeBookPrietReferencesRafner Manufacturing identified the following budgeted data in its two production departments.Assembly$1,181,700Manufacturing overhead costsDirect labor hours.Machine hours.Saved11,800 DLH5,800 MHThe departmental overhead rate for FinishingFinishing$ 580,00019,800 DLH15,800 MHRequired:What is the company's Finishing department overhead rate using machine hours?

Overhead are those expenses which is incurred during the production of any product. it will be…

Rafner Manufacturing identified the following budgeted data in its two production departments. Assembly $1,181,700 Finishing $ 580,000 Manufacturing overhead costs Direct labor hours Machine hours 11,800 DLH 5,800 MH 19,800 DLH 15,800 MH Required: What is the company's Finishing department overhead rate using machine hours? The departmental overhead rate for Finishing

Rafner Manufacturing identified the following budgeted data in its two production departments. Assembly $1,181,700 Finishing $ 580,000 Manufacturing overhead costs Direct labor hours Machine hours 11,800 DLH 5,800 MH 19,800 DLH 15,800 MH Required: What is the company's Finishing department overhead rate using machine hours? The departmental overhead rate for Finishing

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead

Section: Chapter Questions

Problem 20E: Calculating amount of factory overhead applied to work in process The overhead application rate for...

See similar textbooks

Similar questions

Professional labor cost budget for a service company Based on the data in Exercise 7 and assuming that the average compensation per hour for staff is 40 and for partners is 175, prepare a professional labor cost budget for each department forLundquist Fretwell, CPAs, for the year ending May 31, 20Y8. Use the following column headings:
Budget performance report for a cost center Sneed Industries Company sells vehicle parts to manufacturers of heavy construction equipment. The Crane Division is organized as a cost center. The budget for the Crane Division for the month ended August 31, 20Y6, is as follows (in thousands): During August, the costs incurred in the Crane Division were as follows: Instructions For which costs might the director be expected to request supplemental reports?
Budget performance report for a cost center Sneed Industries Company sells vehicle parts to manufacturers of heavy construction equipment. The Crane Division is organized as a cost center. The budget for the Crane Division for the month ended August 31, 20Y6, is as follows (in thousands): During August, the costs incurred in the Crane Division were as follows: Instructions Prepare a budget performance report for the director of the Crane Division for the month of August.
Calculating amount of factory overhead applied to work in process The overhead application rate for a company is 2.50 per unit, made up of 1.00 for fixed overhead and 1.50 for variable overhead. Normal capacity is 10,000 units. In one month, there was an unfavorable flexible budget variance of 200. Actual overhead for the month was 27,000. What was the amount of the budgeted overhead for the actual level of production?
IV. Product Costing Systems Job Costing 1. Lind Company uses a normal job-order costing system. There are two departments, Assembly and Finishing, through which most jobs pass. Selected budgeted and actual data for the past year follow: Budgeted overhead Actual overhead Expected activity (direct labor hours) Expected machine hours Assembly $330,000 110,000 150,000 Finishing $1,000,000 520,000 25,000 25,000 125,000 During the year, several jobs were completed. Data pertaining to one such job, Job 330, follow: Direct materials P730,00 Direct labor cost: Assembly (5,0000 hours @ $12 per hr.) Finishing (400 hours @ $12 per hr.) Machine hours used: $ 60,000 4,800 Assembly Finishing Units produced 100 1,200 10,000 Required: 1. Compute the predetermined overhead rate. 2. Using the predetermined rate, compute the per-unit manufacturing cost for Job 330. (Note: Round the unit cost to the nearest cent.) 3. Recalculate the unit manufacturing cost for Job 330 using departmental overhead rates. Use…
Travelcraft Company manufactures a complete line of fiberglass suitcases and attaché cases. The firm has three manufacturing departments: Molding, Component, and Assembly. There are also two service departments: Power and Maintenance. The sides of the cases are manufactured in the Molding Department. The frames, hinges, and locks are manufactured in the Component Department. The cases are completed in the Assembly Department. Varying amounts of materials, time, and effort are required for each of the cases. The Power Department and Maintenance Department provide services to the three manufacturing departments. Travelcraft has always used a plantwide overhead rate. Direct-labor hours are used to assign overhead to products. The predetermined overhead rate is calculated by dividing the company's total estimated overhead by the total estimated direct-labor hours to be worked in the three manufacturing departments. Karen Mason, director of cost management, has recommended that Travelcraft…
1 Red Raider Company uses a plantwide overhead rate based on machine hours. Each unit requires 2.00 machine hours to produce. How much overhead will be assigned to each unit produced given the following budgeted amounts? Budgeted Data: Department 1 Department 2 Overhead costs $ 2,700,000 $ 2,940,000 Direct labor hours 170,000 DLH 112,000 DLH Machine hours 31,000 MH 9,000 MH
14. A company is preparing its production overhead budgets and determining the apportionment of these overheads to products. Cost centres expenses and related information have been budgeted as follows: Production Cost Centre Machine Machine Dept A ($) Dept B ($) 8,586 9,190 6,400 8,700 Indirect wages Indirect materials Rental Bldg. insurance Power Air Floor space (sq. metres) Value of Total conditioning 3,400 Machine depreciation 40,200 machinery Power 78,560 16,900 16,700 The following information is also available: (kilowatt hrs) Direct labour hrs Machine hrs 2,400 8,600 Total Machine Dept A 45,000 10,000 $402,000 $201,000 $179,000 100 35,000 25,200 55 8,000 7,200 11 12,000 40 Service Cost Centre Assembly Canteen Maintenance ($) ($) ($) 6,200 000 15,674 1,200 Machine Assembly Canteen Maintenance Dept B 29,650 3 600 15,000 6,000 22,000 20,800 15,460 2,000 Required: (a) Prepare a statement showing the allocation and apportionment of overheads to the cost centres, showing clearly the…
A company reports the following budgeted overhead costs and budgeted cost driver activity. Activity (Cost driver) Quality (number of units inspected) Factory services (square feet) Purchasing (number of orders) Activity Quality Factory services Purchasing Budgeted Cost $ 52,116 $ 123,216 $ 17,472 Use activity-based costing to compute the activity rate for each activity. Note: Round your "Activity Rate" to 2 decimal places. Budgeted Cost $ 52,116 123,216 17,472 Budgeted Activity of Cost Driver Standard Deluxe Total 3,180 860 3,820 2,220 188 228 Budgeted Activity Usage Activity Rate 4,040 6,040 416
Question 4 A production department has a budgeted production overheads of $180,000 and budgeted activity of 45,000 machine hours. Overheads are absorbed on a machine hour basis. Required Calculate the under-/over-absorbed overhead, and note the reasons for the under-/over-absorption in the following circumstances. (a) Actual overheads cost $170,000 and 45,000 machine hours were worked. (b) Actual overheads cost $180,000 and 40,000 machine hours were worked. (c) Actual overheads cost $170,000 and 40,000 machine hours were worked.
Question 140 A company has a standard costing system that applies overhead using machine hours. Each item produced requires 2 hours of machine time and the budgeted level of activity is 1,500 machine hours. The predetermined overhead rate for fixed overhead is $4.40 per machine hour. The flexible budget for manufacturing overhead is as follows: Per MH Variable overhead costs Fixed overhead cost Total overhead costs The most recent year had the following results: Required: Calculate the following: Machine Hours: $ 1.65 $ $ Actual number of units produced Actual machine hours worked Actual variable overhead costs Actual fixed overhead costs 1,000 1,650 $ 6,600 8.250 $ 1,500 2,475 $ 6.600 2.075 $ 740 1,554 $2,550 $6,400 2.000 3,300 6,600 9.900
S Craftmore Machining reports the following budgeted overhead cost and related data for this year. Budgeted Activity Usage Budgeted Cost $ 555,750 85,500 28,500 Activity Cost Driver Direct labor hours (DLH) Engineering hours (EH) Machine hours (MH) 13,000 1,500 11,400 570 71,250 Setups $ 741,000 Activity Assembly Product design Electricity Setup Total Required: 1. Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 13,000 direct labor hours. 2. Job 31 used 320 direct labor hours and Job 42 used 680 direct labor hours. Allocate overhead cost to each job using the single plantwide overhead rate from part 1. 3. Compute an activity rate for each activity using activity-based costing. 4. Allocate overhead costs to Job 31 and Job 42 using activity-based costing. Activity Cost Driver Direct labor hours (DLH) Engineering hours (EH) Machine hours (MH) Setups Required 1 Required 2 Activity Usage Job 31 Required 3 320 43 56 6 Complete this question by…