Walton Corporation estimated its overhead costs would be $23,400 per month except for January when it pays the $135,870 annual insurance premium on the manufacturing facility. Accordingly, the January overhead costs were expected to be $159,270 ($135,870 + $23,400). The company expected to use 7,500 direct labor hours per month except during July, August, and September when the company expected 9,800 hours of direct labor each month to build inventories for high demand that normally occurs during the Christmas season. The company's actual direct labor hours were the same as the estimated hours. The company made 3,750 units of product in each month except July, August, and September, in which it produced 4,900 units each month. Direct labor costs were $24.90 per unit, and direct materials costs were $11.10 per unit. Required a. Calculate a predetermined overhead rate based on direct labor hours. b. Determine the total allocated overhead cost for January, March, and August. c. Determine the cost per unit of product for January, March, and August. d. Determine the selling price for the product, assuming that the company desires to earn a gross margin of $20.30 per unit. Complete this question by entering your answers in the bs below. Req A Req B to D Calculate a predetermined overhead rate based on direct labor hours. Note: Round your answer to 2 decimal places. Predetermined overhead rate per labor hour

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?

Baird Manufacturing Co. expects to make 30,500 chairs during the year 1 accounting period. The company made 4,600 chairs in January. Materials and labor costs for January were $16,600 and $24,200, respectively. Baird produced 1,800 chairs in February. Material and labor costs for February were $9,900 and $13,700, respectively. The company paid the $518,500 annual rental fee on its manufacturing facility on January 1, year 1. The rental fee is allocated based on the total estimated number of units to be produced during the year. Required Assuming that Baird desires to sell its chairs for cost plus 30 percent of cost, what price should be charged for the chairs produced in January and February? (Round intermediate calculations and final answers to 2 decimal places.) January February Price per unit

Rasmussen Corporation expects to incur indirect overhead costs of $80,000 per month and direct manufacturing costs of $12 per unit. The expected production activity for the first four months of the year are as follows.    January February March April Estimated production in units 6,000 7,000 3,000 4,000   Required Calculate a predetermined overhead rate based on the number of units of product expected to be made during the first four months of the year. Allocate overhead costs to each month using the overhead rate computed in Requirement a. Calculate the total cost per unit for each month using the overhead allocated in Requirement b.

The Production Department of Hruska Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year:     1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Units to be produced 10,800 9,800 11,800 12,800   Each unit requires 0.25 direct labor-hours and direct laborers are paid $13.00 per hour.   In addition, the variable manufacturing overhead rate is $1.90 per direct labor-hour. The fixed manufacturing overhead is $88,000 per quarter. The only noncash element of manufacturing overhead is depreciation, which is $28,000 per quarter.   Required: 1. Calculate the company’s total estimated direct labor cost for each quarter of the upcoming fiscal year and for the year as a whole. 2. and 3. Calculate the company’s total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter of the upcoming fiscal year and for the year as a whole.

Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for July of the current year, during which it expected to use 14,000 hours for production: Variable overhead cost:         Indirect factory labor $44,800       Power and light 10,360       Indirect materials 21,000         Total variable overhead cost   $ 76,160 Fixed overhead cost:         Supervisory salaries $54,380       Depreciation of plant and equipment 14,310       Insurance and property taxes 26,710         Total fixed overhead cost   95,400 Total factory overhead cost   $171,560 Tannin has available 18,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 13,000 hours for production. The actual fixed costs were as budgeted. The actual variable overhead for July was as follows: Actual variable factory overhead cost:         Indirect factory labor $40,560…

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.

The Production Department of Hruska Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: 2nd Quarter 1st Quarter 10,400 3rd Quarter 11,400 4th Quarter 12,400 Units to be produced 9,400 Each unit requires 0.25 direct labor-hours and direct laborers are paid $12.00 per hour. In addition, the variable manufacturing overhead rate is $1.70 per direct labor-hour. The fixed manufacturing overhead is $84,000 per quarter. The only noncash element of manufacturing overhead is depreciation, which is $24,000 per quarter. Required: 1. Calculate the company's total estimated direct labor cost for each quarter of the the upcoming fiscal year and for the year as a whole. 2&3. Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter of the upcoming fiscal year and for the year as a whole.

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Tiger Equipment Inc., a manufacturer of construction equipment, prepared the following factory overhead cost budget for the Welding Department for May of the current year. The company expected to operate the department at 100% of normal capacity of 7,700 hours. Variable costs:        Indirect factory wages $22,330      Power and light 15,862      Indirect materials 13,552       Total variable cost   $51,744 Fixed costs:        Supervisory salaries $14,700      Depreciation of plant and equipment 37,710      Insurance and property taxes 11,500       Total fixed cost   63,910 Total factory overhead cost   $115,654 During May, the department operated at 8,200 standard hours. The factory overhead costs incurred were indirect factory wages, $24,020; power and light, $16,590; indirect materials, $14,700; supervisory salaries, $14,700; depreciation of plant and equipment, $37,710; and insurance and property taxes, $11,500. Required: Prepare a factory overhead cost…