2. A company had an under recovery of overheads of $200,000 with a budgeted overhead of$1,000,000. If its estimated overhead hours were 20,000 and its actual overhead hours were22,000, calculate the actual overhead cost.(1 Point)$1,300,000None of the above.$800,000$900,000$1,200,000

The objective of the question is to calculate the actual overhead cost of a company given the under…

Answered: 2. A company had an under recovery of…

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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Consider the following information: Budgeted overhead Actual overhead $ 250,000 $ 240,000 Budgeted machine hours 8,000 Actual machine hours 7,800 Net income before overhead adjustment $ 75,000 Compute the ADJUSTED Net Income
A company expected its annual overhead costs to be $813200 and machine hours to equal 107000 hours. Actual overhead was $749000, and actual machine hours totalled 98000 hours. How much overhead was over or underapplied? $4200 underapplied O $68400 underapplied O $69000 over-applied O $64400 underapplied
6
1. The accounting records of Dela Cruz Corporation revealed the following costs direct material used, $750,000; direct labor used, $1,275,000; factory overhead,$1,125,000; indirect materials used $500,000; indirect labor used $600,000; selling and marketing expenses $660,000; general and administrative expenses $440,000. Dela Cruz Corporation Prime Cost is? a. $1,875,000 b. $2,025,000 c. $2,225,000 d. $2,200,000
Actual Overhead -- P 200,000; Budgeted Overhead -- P 150,000; Estimated direct labor hours -- 5,000 hours; Direct labor (P 35 per hour) -- P 157,500; How much is the over/underapplied overhead?
Overhead rate per hour?
Answer question D
3 ences Complete the following (assume $90,000 of overhead to be distributed): Note: Round the "Ratio" to 2 decimal places. Mc Graw Hill Department A Department B Square Feet -- 10,000 30,000 Ratio < Prev Amount of Overhead Allocated 9 of 10 ⠀ JUL 30 W Next E 4 R *** 6 A 8
Below is the selected information for a company for last year: Budgeted fixed manufacturing overhead cost Denominator activity (machine-hours) Standard machine-hours allowed per unit Actual number of units produced Underapplied fixed manufacturing overhead $270,000 45,000 3 14,000 $15,200 Actual fixed cost for last year was: 236,800 O 267,200 254,800 285,200
8) Paine Company wishes to determine the fixed portion of its electrical costs (a mixed cost). Management believes that the variable portion of the electrical costs is driven by machine-hours. Information for the previous three months follows: January February March Machine-hours Electrical cost 33,000 31,000 34,000 A) $283. B) $375. (C) $327. D) $408. $600 $585 $610 Using the high-low method, the fixed portion of the company's electrical costs would be estimated to be closest to:
None
The following data pertain to the current year:Budgeted manufacturing overhead: OMR 390,000Actual manufacturing overhead: OMR 440,000Budgeted machine hours: 30,000 hrs.Actual machine hours: 33,000 hrs.Overhead applied to production totaled: Select one: a. 484,000 b. 455,000 c. 429,000 d. 355,000

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2. A company had an under recovery of overheads of $200,000 with a budgeted overhead of $1,000,000. If its estimated overhead hours were 20,000 and its actual overhead hours were 22,000, calculate the actual overhead cost. (1 Point) $1,300,000 None of the above. $800,000 $900,000 $1,200,000