The Overman Company manufactures products in two departments: Mixing and Packaging. The company allocates manufacturing overhead using a single plantwide rate with direct labor hours as the allocation base. Estimated overhead costs for the year are $832,500, and estimated direct labor hours are 370,000. In October, the company incurred 75,000 direct labor hours. Read the requirements Requirement 1. Compute the predetermined overhead allocation rate. Round to two decimal places. Begin by selecting the formula to calculate the predetermined overhead (OH) allocation rate. Then enter the amounts to compute the allocation rate. Predetermined OH allocation rate Requirements 1. Compute the predetermined overhead allocation rate. Round to two decimal places. 2. Determine the amount overhead allocated in October. Print Done

Bella, Inc. manufactures two kinds of bags-totes and satchels. The company allocates manufacturing overhead using a single plantwide rate with direct labor cost as the allocation base. Estimated overhead costs for the year are $26,000. Additional estimated information is given below. Totes Direct materials cost per unit $30 Direct labor cost per unit $52 Number of units 510 Calculate the predetermined overhead allocation rate. (Round your answer to two decimal places.) A. 86.15% OB. 1.68% OC. 98.04% OD. 53.15% Satchels $45 $64 350

Lehighton Chalk Company manufactures sidewalk chalk, which it sells online by the box at $25 per unit. Lehighton uses an actual costing system, which means that the actual costs of direct material, direct labor, and manufacturing overhead are entered into work-in-process inventory. The actual application rate for manufacturing overhead is computed each year; actual manufacturing overhead is divided by actual production (in units) to compute the application rate. Information for Lehighton's first two years of operation is as follows: Sales (in units) Production (in units) Production costs: Variable manufacturing costs Fixed manufacturing overhead Selling and administrative costs: Variable Fixed Based on absorption costing Finished-goods inventory Retained earnings Year 1 2,600 3,100 $15,500 18,600 Based on variable costing Finished-goods inventory Retained earnings LEHIGHTON CHALK COMPANY Selected Balance Sheet Information End of Year 1 10,400 9,400 $ 5,500 11,100 Selected information…

Luthan Company uses a plantwide predetermined overhead rate of $22.30 per direct labor-hour. This predetermined rate was based on a cost formula that estimated $267,600 of total manufacturing overhead cost for an estimated activity level of 12,000 direct labor-hours.   The company incurred actual total manufacturing overhead cost of $266,000 and 12,400 total direct labor-hours during the period.   Required: Determine the amount of manufacturing overhead cost that would have been applied to all jobs during the period.

The Orel manufactures products in two departments: Mixing and Packaging. The company allocates manufacturing overhead using a single plantwide rate with direct labor hours as allocation base. Estimated overheard costs for the year are $828,000, and estimated direcr labor hours are 360,000. In October, the company incurred 20,000 direct labor hours.   Requirement 1. Compute the predetermined overhead allocation rate. Round to two decimal places.   Begin by selecting the formula to calculate the predetermined overheard (OH) allocation rate. Then enter the amounts to compute the allocation rate.   Requirement 2. Determine the amount of overheard allocated in October.Begin by selecting the formula to allocate overheard costs.   The overheard allocated in October is _________

Luthan Company uses a plantwide predetermined overhead rate of $23.40 per direct labor-hour. This predetermined rate was based on a cost formula that estimated $280,800 of total manufacturing overhead cost for an estimated activity level of 12,000 direct labor-hours. The company incurred actual total manufacturing overhead cost of $266,000 and 11,300 total direct labor-hours during the period. Required: Determine the amount of manufacturing overhead cost that would have been applied to all jobs during the period. Manufacturing overhead applied

At the beginning of the year, Custom Mfg. established Its predetermined overhead rate by using the following cost predictions: overhead costs, $600,000, and direct materlals costs, $200,000. At year-end, the company's records show that actual overhead costs for the year are $1,499,100. Actual direct materials cost had been assigned to jobs as follows. Jobs completed and sold Jobs in finished goods inventory Jobs in work in process inventory $360, 000 82, 000 55,000 $497,000 Total actual direct materials cost 1. Determine the predetermined overhead rate. 2&3. Enter the overhead costs Incurred and the amounts applied to jobs during the year using the predetermined overhead rate and determine whether overhead is overapplied or underapplled. 4. Prepare the adjusting entry to allocate any over- or underapplled overhead to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Req 1 Reg 2 and 3 Req 4 Determine the predetermined overhead rate. Overhead Rate…

Kingsport Containers Company makes a single product with wide seasonal variations in demand. The company uses a job-order costing system and computes plantwide predetermined overhead rates on a quarterly basis using the number of units to be produ as the allocation base. Its estimated costs, by quarter, for the coming year are given below: Direct materials Direct labor Manufacturing overhead Total manufacturing costs (a) Number of units to be produced (b) Estimated unit product cost (a) + (b) Quarter First $ 280,000 160,000 220,000 Second $ 140,000 80,000 196,000 $ 660,000 $ 416,000 120,000 $ 5.50 60,000 $ 6.93 Third $ 70,000 40,000 184,000 $ 294,000 30,000 $9.80 Fourth $ 210,000 120,000 ? $? 90,000 $? Management finds the variation in quarterly unit product costs to be confusing. Accordingly, you have been asked to find a more appropriate way of applying manufacturing overhead cost to units of product. Required: 1. Assuming the estimated variable manufacturing overhead cost per unit…

Malcolm Company uses a predetermined overhead rate based on direct labor hours to apply manufacturing overhead to jobs. The estimates for the year were: Manufacturing overhead $16,240 Direct labor hours 11,600 The actual results for the year were: Manufacturing overhead $21,700 Direct labor hours 13,000 The cost records for the year will show Group of answer choices Overapplied overhead of $5,460. Underapplied overhead of $5,460 Overapplied overhead of $ 3,500. Underapplied overhead of $3,500

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,…