FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Metal Company budgeted $564,000 manufacturing direct wages, 2,000 direct labor hours, and had the following manufacturing overhead:
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TB MC Qu. 5-63 (Algo) Manufacturing overhead: Metal Company
Metal Company budgeted $564,000 manufacturing direct wages, 2,000 direct labor hours, and had the following manufacturing overhead:
Budgeted Level for Cost
Driver
Overhead Cost Pool
Materials handling
Budgeted Overhead.
Cost
$164,000
14,400
4,100 pounds
Machine setup
480 setups
Overhead Cost Driver
Weight of materials
Number of setups
Machine hours
Number of inspections
Machine repair
1,800
15,000
30,000 machine hours
250 inspections
Inspections
Requirements for Job # 971 which manufactured 4 units of product:
Direct labor
20 hours
Direct materials
220 pounds
Machine setup
40 setups
Machine hours
15,900 machine hours
Inspections
15 inspections
If Metal Company uses a volume-based overhead rate based on direct labor hours, the manufacturing overhead for Job # 971 is:
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Transcribed Image Text:Saved TB MC Qu. 5-63 (Algo) Manufacturing overhead: Metal Company Metal Company budgeted $564,000 manufacturing direct wages, 2,000 direct labor hours, and had the following manufacturing overhead: Budgeted Level for Cost Driver Overhead Cost Pool Materials handling Budgeted Overhead. Cost $164,000 14,400 4,100 pounds Machine setup 480 setups Overhead Cost Driver Weight of materials Number of setups Machine hours Number of inspections Machine repair 1,800 15,000 30,000 machine hours 250 inspections Inspections Requirements for Job # 971 which manufactured 4 units of product: Direct labor 20 hours Direct materials 220 pounds Machine setup 40 setups Machine hours 15,900 machine hours Inspections 15 inspections If Metal Company uses a volume-based overhead rate based on direct labor hours, the manufacturing overhead for Job # 971 is:
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