9. The Silver Company uses a predetermined overhead rate to apply manufacturing overhead to jobs. The predetermined overhead rate is based on labor cost in Dept. A and on machine-hours in Dept. B. At the beginning of the year, the company made the following estimates: Dept A Dept B S60,000 $40,000 Direct labor cost. Manufacturing overhead. Direct labor-hours.. $90,000 $45,000 6,000 9,000 2,000 15,000 Machine-hours . What predetermined overhead rates would be used in Dept A and Dept B, respectively? 67% and $3.00 150% and $5.00 150% and $3.00 67% and $5.00

9. The Silver Company uses a predetermined overhead rate to apply manufacturing overhead to jobs. The predetermined overhead rate is based on labor cost in Dept. A and on machine-hours in Dept. B. At the beginning of the year, the company made the following estimates: Dept A Dept B S60,000 $40,000 Direct labor cost. Manufacturing overhead. Direct labor-hours.. $90,000 $45,000 6,000 9,000 2,000 15,000 Machine-hours . What predetermined overhead rates would be used in Dept A and Dept B, respectively? 67% and $3.00 150% and $5.00 150% and $3.00 67% and $5.00

Name: 9. The Silver Company uses a predetermined overhead rate to apply man
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Description: 9. The Silver Company uses a predetermined overhead rate to apply manufacturing overhead to jobs. Thepredetermined overhead rate is based on labor cost in Dept. A and on machine-hours in Dept. B. At thebeginning of the year, the company made the fol

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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ATZOmpany uses a predetermined overhead rate to apply manufacturing overhead to jobs. The predetermined overhead rate is based on labor cost in Dept. X and on machine-hours in Dept. Y. At the beginning of the year, the :Corporation made the following estimates Dept. Y Dept. X 40,000 OMR 60,000 OMR Direct labor cost 60,000 OMR100,000 OMR Manufacturing overhead 15,000 6,000 Direct labor-hours 9,000 2,000 Machine-hours What predetermined overhead rates would be used in Dept. X and Dept. Y, ?respectively None of the given answers .a and OMR 4.00 200% .b and OMR 6.67 167% .c O and OMR 4.00 167% .d .e and OMR 5.00 150%
Pro-Craft Company computed the following activity rates to allocate overhead cost for the year. Activity Materials handling Quality inspection Utilities Activity Rate $64 per materials requisition $ 54 per inspection $5 per machine hour During January, the company produced the following two jobs. Allocate overhead cost to each job using the activity rates. Activity Cost Driver Materials requisitions Inspections Machine hours Activity Usage Job A 5 8 370 Job B 3 4 270 Allocate overhead based on actual activity usage-Job A Activity Activity Usage Materials handling Quality inspection Utilities Total Allocate overhead based on actual activity usage-Job B Activity Activity Usage Materials handling Quality inspection Utilities Total Activity Rate Activity Rate Allocated Cost $ Allocated Cost $ 0 0
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FICA—OASDI 6.2% on first $137,700FICA—HI 1.45% on total earningsSUTA 0.5% on first $8,000Tax on Employer:FICA—OASDI 6.2% on first $137,700FICA—HI 1.45% on total earningsFUTA 0.6% on first $7,000SUTA 2.8% on first $8,000
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Mason Company has two manufacturing departments-Machining and Assembly. All of the company's manufacturing overhead costs are fixed costs. It provided the following estimates at the beginning of the year as well as the following information for Jobs A and B: Estimated Data Manufacturing overhead Direct labor-hours Machine-hours Job A Direct labor-hours Machine-hours Job B Direct labor-hours Machine-hours Machining $5,054,000 19,000 266,000 Machining Assembly 5 10 11 2 Machining 4 12 Assembly 5 3 Assembly $361,000 266,000 14,000 Total 15 13 Total 9 15 Total $5,415,000 285,000 280,000 Required: 1. If Mason Company uses a plantwide predetermined overhead rate with direct labor-hours as the allocation base, how much manufacturing overhead cost would be applied to Job A? Job B? 2. Assume Mason Company uses departmental predetermined overhead rates. The Machining Department is allocated based on machine-hours and the Assembly Department is allocated based on direct labor-hours. How much…
The related data of Manushi Company: Actual direct labor hours 10,000 Actual overhead cost 682,500 Overapplied factory overhead 125,700 Factory overhead is based on direct labor hours. How much is the predetermined rate?