Linzee Liners estimates that its manufacturing overhead will be $1,725,000 in Year 1. It further estimates that direct labor costs will amount to $750,000. During March, Linzee worked on four jobs with actual direct labor costs of $35,000 for Job 0301, $22,500 for Job 0302, $32,000 for Job 0303, and $16,000 for Job 0304. Actual manufacturing overhead costs for the year were $1,710,000. Actual direct labor costs for the year were $735,000. Manufacturing overhead is applied to jobs based on direct labor costs using predetermined rates. The amount of overhead applied in each of the inventory accounts at the end of Year 1 is as follows: $ 33,810 $ 270,480 $ 1,386,210 Work-in-process inventory Finished goods inventory Cost of goods sold Required: Prepare an entry to allocate the over- or underapplied overhead. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list View journal entry worksheet No A Transaction 1 General Journal Work-in-Process Inventory Finished Goods Inventory Cost of Goods Sold Manufacturing Overhead Applied Debit 390 3,120 15,990 Credit 19,500 X

Richey Company uses an actual cost accounting system that applies overhead on the basis of direct labor hours. At the beginning of the year, management estimated that during the year, the company would work 26,000 direct labor hours and budgeted $1,300,000 for MOH. The company actually worked 24,000 direct labor hours and incurred the following actual manufacturing costs: Direct materials used in production $1,240,000 Direct labor 1,800,000 Indirect labor 300,000 Indirect materials 220,000 Insurance 150,000 Utilities 190,000 Repairs and Maintenance 180,000 Depreciation 320,000 Determine the amount of underapplied or overapplied overhead for the year.

The Vinta Company estimates its factory overhead for the next period at P2,500,000. It is estimated that 40,000 units will be produced at a material costs of P1,600,000 and will require 100,000 direct labor hours at an estimated cost of P2,500,000. The machine will run about 320,000 hours. What is the predetermined factory overhead rate based on direct labor cost? * P7.8125 156.25% 100.00% O P25.00 O P62.50

Delph Company uses job-order costing with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that 54,000 machine-hours would be required for the period’s estimated level of production. It also estimated $1,000,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per machine-hour. Because Delph has two manufacturing departments—Molding and Fabrication—it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following information to enable calculating departmental overhead rates:   Molding Fabrication Total Machine-hours 23,000 31,000 54,000 Fixed manufacturing overhead cost $ 760,000 $ 240,000 $ 1,000,000 Variable manufacturing overhead cost per machine-hour $ 4.00 $ 1.00   During the year, the company had no beginning or ending inventories and it started,…

Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 20,000 direct labor-hours would be required for the period’s estimated level of production. The company also estimated $94,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $123,900 and its actual total direct labor was 21,000 hours. Required: Compute the company's plantwide predetermined overhead rate for the year. Note: Round your answer to 2 decimal places.

Cavy Company estimates that the factory overhead for the following year will be $2,829,000. The company has determined that the basis for applying factory overhead will be machine hours, which is estimated to be 34,500 hours. There are 4,690 machine hours for all of the jobs in the month of April. What amount will be applied to all of the jobs for the month of April?

Delph Company uses job-order costing with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that 54,000 machine-hours would be required for the period's estimated level of production. It also estimated $1,040,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $5.00 per machine-hour. Because Delph has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following information to enable calculating departmental overhead rates: Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Job D-70 Direct materials cost Direct labor cost Machine-hours Job C-200 Direct materials cost Direct labor cost Machine-hours During the year, the company had no beginning or ending inventories and it…

Captain Pickles Pet Products computes its predetermined overhead rate annually on the basis of direct labor hours. At the beginning of the year, it estimated that 40,000 direct labor-hours would be required for the period’s estimated level of production. The company also estimated P586,000 manufacturing overhead expenses for the coming period. Captain Pickles’s actual manufacturing overhead for the year was P713,400 and its actual total direct labor was 41,000 hours. Compute the company’s predetermined overhead rate for the year.     P14.29 per direct labor hour P14.65 per direct labor hour P17.84 per direct labor hour P17.40 per direct labor hour

Winston Company estimates that total factory overhead for the following year will be $1,347,500. The company has decided that the basis for applying factory overhead should be machine hours, which are estimated to be 38,500 hours. The actual total machine hours for the year were 54,300 hours. The actual factory overhead for the year was $1,927,000. Enter the amount as a positive number. a. Determine the total factory overhead applied. Round to the nearest dollar. b. Compute the over- or underapplied factory overhead for the year. c. Journalize the entry to transfer the over- or underapplied factory overhead to cost of goods sold. If an amount box does not require an entry, leave it blank.

he Thomlin Company forecasts that total overhead for the current year will be $11,385,000 with 164,000 total machine hours. Year to date, the actual overhead is $7,616,000 and the actual machine hours are 93,000 hours. If the Thomlin Company uses a predetermined overhead rate based on machine hours for applying overhead, as of this point in time (year to date), the overhead is Round the factory overhead rate to the nearest dollar before multiplying by the number of hours.