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1. Compute the firm's predetermined overhead rate for the year using each o (b) direct-labor hours, and (c) direct-labor dollars. Note: Round your answers to 2 decimal places. Cost Drivers (a) Machine hours (b) Direct-labor hours (c) Direct-labor dollars Overhead Rate per machine hour per direct-labor hour per direct-labor dollar

1. Compute the firm's predetermined overhead rate for the year using each o (b) direct-labor hours, and (c) direct-labor dollars. Note: Round your answers to 2 decimal places. Cost Drivers (a) Machine hours (b) Direct-labor hours (c) Direct-labor dollars Overhead Rate per machine hour per direct-labor hour per direct-labor dollar

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Required: 1. Compute the firm's predetermined overhead rate for the year using each of the following common cost drivers: (a) machine hours, (b) direct-labor hours, and (c) direct-labor dollars. Note: Round your answers to 2 decimal places. Cost Drivers (a) Machine hours (b) Direct-labor hours (c) Direct-labor dollars Cost Drivers Overhead Rate 2. Calculate the overapplied or underapplied overhead for the year using each of the following cost drivers. Note: Round intermediate calculation to 2 decimal places. (a) Machine hours (b) Direct-labor hours (c) Direct-labor dollars per machine hour per direct-labor hour per direct-labor dollar Amount
Transcribed Image Text:Required: 1. Compute the firm's predetermined overhead rate for the year using each of the following common cost drivers: (a) machine hours, (b) direct-labor hours, and (c) direct-labor dollars. Note: Round your answers to 2 decimal places. Cost Drivers (a) Machine hours (b) Direct-labor hours (c) Direct-labor dollars Cost Drivers Overhead Rate 2. Calculate the overapplied or underapplied overhead for the year using each of the following cost drivers. Note: Round intermediate calculation to 2 decimal places. (a) Machine hours (b) Direct-labor hours (c) Direct-labor dollars per machine hour per direct-labor hour per direct-labor dollar Amount
EX 3-35,3-36 (Algo) Predetermined Overhead Rate; Various Cost Drivers (LO 3-4) [The following information applies to the questions displayed below.] The following data pertain to the Oneida Restaurant Supply Company for the year just ended. Budgeted sales revenue Actual manufacturing overhead Budgeted machine hours (based on practical capacity) Budgeted direct-labor hours (based on practical capacity) Budgeted direct-labor rate Budgeted manufacturing overhead Actual machine hours Actual direct-labor hours Actual direct-labor rate $ 200,000 338,000 10,000 20,000 $ 14 $364,000 11,000 18,000 $ 16
Transcribed Image Text:EX 3-35,3-36 (Algo) Predetermined Overhead Rate; Various Cost Drivers (LO 3-4) [The following information applies to the questions displayed below.] The following data pertain to the Oneida Restaurant Supply Company for the year just ended. Budgeted sales revenue Actual manufacturing overhead Budgeted machine hours (based on practical capacity) Budgeted direct-labor hours (based on practical capacity) Budgeted direct-labor rate Budgeted manufacturing overhead Actual machine hours Actual direct-labor hours Actual direct-labor rate $ 200,000 338,000 10,000 20,000 $ 14 $364,000 11,000 18,000 $ 16
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