Adams, 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 $190,800 20,800 32,800 14,800 a. Predetermined overhead rate b. Applied manufacturing overhead 20,000 44,500 38,600 157,700 The company uses a predetermined overhead rate based on machine hours. Estimated hours for labor in Year 3 were 212,000 and for machines were 130,000. 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 145,000. (Do not round intermediate calculations.) per machine hour

Adams, 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 $190,800 20,800 32,800 14,800 a. Predetermined overhead rate b. Applied manufacturing overhead 20,000 44,500 38,600 157,700 The company uses a predetermined overhead rate based on machine hours. Estimated hours for labor in Year 3 were 212,000 and for machines were 130,000. 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 145,000. (Do not round intermediate calculations.) per machine hour

Name: Adams, Inc. estimates manufacturing overhead costs for the Year 3 acc
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Description: Adams, Inc. estimates manufacturing overhead costs for the Year 3 accounting period as follows.Equipment depreciationSuppliesMaterials handlingProperty taxesProduction setupRentMaintenanceSupervisory salaries$190,80020,80032,80014,80020,00044,50038,

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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