18) Blakely charges manufacturing overhead to products by using a predetermined application rate,computed on the basis of machine hours. The following data pertain to the current year:Budgeted manufacturing overhead: S550,000Actual manufacturing overhead: $480,000Budgeted machine hours: 25,000Actual machine hours: 20,000Overhead applied to production totaled:A. $384,000B. $440,000C. S600,000D. $687,500E. Some other amount

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Description: 18) Blakely charges manufacturing overhead to products by using a predetermined application rate,computed on the basis of machine hours. The following data pertain to the current year:Budgeted manufacturing overhead: S550,000Actual manufacturing ove

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1B) Blakely charges manufacturing overhead to products by using a predetermined application rate, computed on the basis of machine hours. The following data pertain to the current year: Budgeted manufacturing overhead: $550,000 Actual manufacturing overhead: $480,000 Budgeted machine hours: 25,000 Actual machine hours: 20,000 Overhead applied to production totaled: A. S384,000 B. $440,000 C. S600,000 D. $687,500 E. Some other amount

1B) Blakely charges manufacturing overhead to products by using a predetermined application rate, computed on the basis of machine hours. The following data pertain to the current year: Budgeted manufacturing overhead: $550,000 Actual manufacturing overhead: $480,000 Budgeted machine hours: 25,000 Actual machine hours: 20,000 Overhead applied to production totaled: A. S384,000 B. $440,000 C. S600,000 D. $687,500 E. Some other amount

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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7. At the beginning of the year, a company estimates total direct materials costs of $1,940,000 and total overhead costs of $2,793,600. If the company uses direct materials costs as its activity base to apply overhead, what is the predetermined overhead rate it should use during the year? a. 100% b. 144% c. 69% d. 44% e. 31%
From the following information relating to the month of January, 2019, calculate the equivalent production units and the value of finished production and work-in- progress using LIFO method. Opening work-in-progress on lst January 15,000 units; 50% complete. Units introduced in the process : 30,000 units Cost Cost Materials Labour Overheads 18,000 24,000 24,000 Materials Labour Overheads 90,000 1,57,500 2,10,000 66,000 4,57,500 During the period 22,500 units were completed and transferred to the next process. Closing work-in-progress on 31st January : 22,500 units ; 50% complete.
← Doric Agricultural Corporation uses a predetermined overhead allocation rate based on the direct labor cost. The manufacturing overhead cost allocated during the year is $280,000. The details of production and costs incurred during the year are as follows: Actual direct materials cost Actual direct labor cost $811,000 $170,000 $262,000 5,520 hours Actual overhead costs incurred Total direct labor hours What is the predetermined overhead allocation rate applied by the corporation? (Round your answer to two decimal places.) OA. 164.71% OB. 34.53% OC. 93.57% O D. 64.89% XXID
pany applies overhead based on machine hours. At the beginning of 20x1, the company estimated that manufacturing overhead would be $500,000, and machine hours would total 20,000. By 20x1 vear-end, actual overhead totaled $525,000, and actual machine hours were 25.000, On the basis of this information, the 20x1 predetermined overhead rate was: A) $20 per machine hour. B) $0.05 per machine hour. C) $0.04 per machine hour. D) $25 per machine hour. E) $21 per machine hour.
Shoes Wisely, Inc. allocates overhead using machine hours as the allocation base. The following information was estimated at the beginning of the year: Estimated Manufacturing Overhead $73,000 Estimated Machine Hours 19,000 Actual overhead totaled $72,000. During the year, the company produced 8,500 units of product using 14,000 machine hours and 60,000 direct labor hours. How much manufacturing overhead was allcoated to the product during the year? Round your answer to whole dollars.
The cost of materials for beginning work-in-process is $10,400. Materials costs added during the period were $131,500. The equivalent units of production for materials is 50,000 units Using the weighted average method, what is the cost per equivalent unit for materials? OA. $0.21 OB. $2.04 OC. $2.63 OD. 53.84
Subject: accounting
Compute conversion costs given the following data: direct materials, $347,500; direct labor, $196,300; factory overhead, $187,900; and selling expenses, $45,290. a.$543,800 b.$187,900 c.$384,200 d.$731,700
d. Assume that the actual level of activity next year was 36,000 direct labor hours and that manufactur- ing overhead was $341,550. Determine the underapplied or overapplied manufacturing overhead at the end of the year. e. Describe two ways of handling any underapplied or overapplied manufacturing overhead at the end of the year. e. Describe two ways of handling any underapplied or overapplied manufacturing overhead at the end of the year.
The accounting records of Inter Company revealed the following selected costs: Sales commissions, $65,000; plant supervision, $190,000; and administrative expenses, $185,000. Inter's period costs total: a. $440,000. O b. $285,000. O c. $250,000. O d. $255,000.
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Franklin, Inc. estimates manufacturing overhead costs for the Year 3 accounting period as follows. Equipment depreciation. Supplies Materials handling Property taxes Production setup Rent Maintenance Supervisory salaries $190,100. 20,000 33,200 a. Predetermined overhead rate b. Applied manufacturing overhead 13,300 20,100 43,000 39,000 281,300 The company uses a predetermined overhead rate based on machine hours. Estimated hours for labor in Year 3 were 201,000 and for machines were 128,000. Required a. Calculate the predetermined overhead rate. (Round your answer to 2 decimal places.) b. Determine the amount of manufacturing overhead applied to Work in Process Inventory during the Year 3 period if actual machine hours were 143,000. (Do not round intermediate calculations.) per machine hour