FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- please solve for overhead rate per direct labor cost, overhead rate per direct labor hour, and overhead rate per machine hourarrow_forwardA manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $624,600 and direct labor hours would be 34,700. Actual manufacturing overhead costs incurred were $429,400, and actual direct labor hours were 22,600. The entry to apply the factory overhead costs for the year would include aarrow_forward1.arrow_forward
- A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $355,200 and direct labor hours would be 48,200. Actual manufacturing overhead costs incurred were $307,700, and actual direct labor hours were 51,900. What is the predetermined overhead rate per direct labor hour? a. $7.37 b. $8.84 c. $11.05 d. $5.90arrow_forwardA manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $351,232 and direct labor hours would be 43,904. Actual factory overhead costs incurred were $391,711, and actual direct labor hours were 51,004. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year? If the contribution margin ratio for France Company is 46%, sales were $452,000, and fixed costs were $100,000, what was the income from operations? Department M had 2,100 units 57% completed in process at the beginning of June, 11,600 units completed during June, and 1,700 units 25% completed at the end of June. What was the number of equivalent units of production for conversion costs for June if the first-in, first-out method is used to cost inventories?arrow_forwardA manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $329,800 and direct labor hours would be 49,100. Actual manufacturing overhead costs incurred were $316,500, and actual direct labor hours were 50,200. The journal entry to apply the factory overhead costs for the year would include aarrow_forward
- Assume (1) estimated direct labor hours used to calculate the predetermined overhead rate = 19,950, (2) the manufacturing overhead applied to production = $105,000, and (3) the total direct labor hours actually worked during the period = 21,000.What is the estimated total manufacturing overhead cost for the period?arrow_forwardAction corporation, which applies manufacturing overhead on the basis of labor hours, has provided the following data for its most recent year of operations. Estimated labor hours were 3,900. Actual labor hours were 3800. Note that labor hours are used. Estimated manufacturing overhead $137,080 Estimated machine-hours 3,800 Actual manufacturing overhead $137,000 Actual machine-hours 3,780 The applied manufacturing overhead for the year is closest to: $136,269 $138,348 $135,513 $133,565 None of the above Please show work.arrow_forwardMalone Company has the following balances for the current month: Indirect materials used $1320 Direct labor 5469 Sales salaries 11588 Indirect labor 1508 Production manager's salary 10170 Marketing costs 4286 Factory rent Direct materials used What are the total period costs? 11814 2021arrow_forward
- A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $489,720 and direct labor hours would be 48,972. Actual factory overhead costs incurred were $511,421, and actual direct labor hours were 53,273. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year? a.$21,309 overapplied b.$43,010 underapplied c.$532,730 overapplied d.$21,309 underappliedarrow_forwardActon Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its most recent year of operations. Estimated manufacturing overhead Estimated machine-hours Actual manufacturing overhead Actual machine-hours $139,080 3,838 $137,000 3,800 The estimates of the manufacturing overhead and of machine-hours were made at the beginning of the year for the purpose of computing the company's predetermined overhead rate for the year. The predetermined overhead rate is closest to:arrow_forward
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