14.2 (14.2) Fuji Hill Corp, a manufacturer of musical instruments, uses a budgeted factory overheadrate to apply overhead to production.The Amount Budgeted factory overhead 675,000Budgeted machine hours 20,000Actual direct labor cost 482,000Budgeted direct labor costs 450,000If the company uses estimated direct labor costs as its activity base, what is the overheadapplication rate?

Explanation of Factory Overhead: Factory overhead represents all manufacturing costs that cannot be…

Answered: (14.2) Fuji Hill Corp, a manufacturer…

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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Please give me answer general accounting
How much overhead would be applied to production?
Can you please solve this financial accounting question?
For many years, Yotsuya Company has used a manufacturing overhead rate based on direct labor hours. A new plant accountant has suggested that the company may be able to assign overhead costs to products more accurately by using an activity-based costing system. The accountant explains that by creating an overhead rate for each production activity that causes overhead costs, the resulting product costs will reflect an accurate measure of overhead cost. The direct material cost is P120 per unit. The budgeted hours is 8,030 direct labor hours. The accountant has identified activity centers to which overhead costs are assigned. The cost pool amounts for theses centers and their selected activity drivers for 2019: Activity Centers Costs Activity Drivers Materials handling P60,000 1,200 times handled Scheduling and setups 80,000 400 setups Design section 10,750 100 changes No. of parts 50,000 500 parts P200,750 The company’s products…
What is the amount of overapplied or underapllied overhead
How much overhead cost would be assigned to product?
A) Explain in detail how a single, plant-wide factory overhead allocation rate is established (i.e., what is the formula?). Pate Company uses a job order cost accounting system. The company's management estimated that they would incur 250,000 hours of direct labor hours at a cost of $12.00 per hour, totaling $3,000,000; they also estimate that total factory overhead costs would be $1,500,000 for the current period. At the end of the period, the records show that the actual number of direct labor hours amounted to 248,000. The records also showed that actual (not the allocated amount) overhead costs amounted to $1,520,000. (B) Using the preceding example, calculate the pre-determined factory overhead allocation rate that was used, assuming that direct labor hours were used as the base. (C) Did Pate Company OVER-allocate or UNDER-allocate factory overhead for the period?
Using the direct method, compute for the factory overhead rate of the D department if it apply overhead based on direct labor hours and budgeted direct labor hours for the period total to 75,000 hours. Sylvie Corporation has three production departments: K, D, and C. It also has two service departments: Administration and Personnel. Administration costs are allocated based on value of assets employed, and Personnel costs are allocated based on number of employees. Assume that Administration provides more service to the other departments than does the Personnel Department. Department Administration Direct Costs Employees Asset Value 900,000 1,200,000 600,000 300,000 1,600,000 1,800,000 700,000 1,400,000 400,000 500,000 50 Personnel 20 K 30 D 10 C 20
Not use ai please
. The company has traditionally used a plantwide manufacturing overhead rate based on machine hours to allocate manufacturing overhead to its products. The company estimates that it will incur attached ss below thanks wgwirgw
The predetermined overhead rate per direct labor hour to be used to apply total overhead to individual jobs next year is: P3.70 P3.88 P3.36 P3.50
What is its standard manufacturing overhead rate per unit ?

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