None At the beginning of the year, manufacturing overhead for the yearwas estimated to be $916,725. At the end of the year, actual directlabor hours for the year were 36,330 hours, the actualmanufacturing overhead for the year was $880,000, and themanufacturing overhead for the year was overapplied by $46,415.If the predetermined overhead rate is based on direct labor hours,then the estimated direct labor hours at the beginning of the yearused in the predetermined overhead rate must have been:a. 34,510 direct labor hours.b. 35,950 direct labor hours.c. 36,330 direct labor hours.d. 32,690 direct labor hours.

Step 1: Define Predetermined Overhead RateThe predetermined overhead rate can be determined using…

Answered: At the beginning of the year,…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 3EB: A company estimated 50,000 direct labor hours and $450,000 in overhead. The actual overhead was...

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If a factory operates at 100% of capacity one month, 90% of capacity the next month, and 105% of capacity the next month, will a different cost per unit be charged to the work-in-process account each month for factory overhead assuming that a predetermined annual overhead rate is used?
A company estimated 100,000 direct labor hours and $800,000 in overhead. The actual overhead was $805,100, and there were 99,900 direct labor hours. What is the predetermined overhead rate, and how much was applied during the year?
A company estimates its manufacturing overhead will be $840,000 for the next year. What is the predetermined overhead rate given each of the following Independent allocation bases? Budgeted direct labor hours: 90,615 Budgeted direct labor expense: $750000 Estimated machine hours: 150,000
The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning February 1 would be 3,150,000, and total direct labor costs would be 1,800,000. During February, the actual direct labor cost totalled 160,000, and factory overhead cost incurred totaled 283,900. a. What is the predetermined factory overhead rate based on direct labor cost? b. Journalize the entry to apply factory overhead to production for February. c. What is the February 28 balance of the account Factory OverheadBlending Department? d. Does the balance in part (c) represent over- or underapplied factory overhead?
Queen Bees Honey, Inc., estimated its annual overhead to be $110,000 and based its predetermined overhead rate on 27,500 direct labor hours. At the end of the year, actual overhead was $106,000 and the total direct labor hours were 29,000. What is the entry to dispose of the over applied or under applied overhead?
Coops Stoops estimated its annual overhead to be $85,000 and based its predetermined overhead rate on 24,286 direct labor hours. At the end of the year, actual overhead was $90,000 and the total direct labor hours were 24,100. What is the entry to dispose of the over applied or under applied overhead?
Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 2.70 is direct materials and 5.30 is overhead. What is the prime cost per unit? Conversion cost per unit?
At the beginning of the year, manufactoring overhead for the year was estimated to be $ 267,500. At the end of the year, actual direct labor - hours for the year were 22, 100 hours, the actual manufactoring overhead for the year was $262,500, and manufactoring overhead for the year was overapplied by $13, 750. If the predetermined rate is based on direct labor - hours, then the estimated direct labor - hours at the beginning of the year used in the predetermined overhead rate must have been
At the beginning of the year, manufacturing overhead for the year was estimated to be $974,700. At the end of the year, actual direct labor- hours for the year were 36,360 hours, the actual manufacturing overhead for the year was $930,000, and manufacturing overhead for the year was overapplied by $51,720. If the predetermined overhead rate is based on direct labor-hours, then the estimated direct labor-hours at the beginning of the year used in the predetermined overhead rate must have been: Note: Do not round intermediate calculations. Multiple Choice 34.444 direct labor-hours 32,529 direct labor-hours 36,360 direct labor-hours 36,100 direct labor-hours
At the beginning of the year, manufacturing overhead for the year was estimated to be $670,700. At the end of the year, actual direct labor-hours for the year were 36,200 hours, the actual manufacturing overhead for the year was $665,700, and manufacturing overhead for the year was overapplied by $22,100. If the predetermined overhead rate is based on direct labor-hours, then the estimated direct labor-hours at the beginning of the year used in the predetermined overhead rate must have been: A) 33,874 direct labor-hours B) 35,300 direct labor-hours C) 35,037 direct labor-hours D) 36,200 direct labor-hours
At the beginning of the year, manufacturing overhead for the year was estimated to be $409,500. At the end of the year, actual direct labor-hours for the year were 32,100 hours, the actual manufacturing overhead for the year was $272,500, and manufacturing overhead for the year was overapplied by $289,250. If the predetermined overhead rate is based on direct labor-hours, then the estimated direct labor-hours at the beginning of the year used in the predetermined overhead rate must have been: Multiple Choice 2,700 direct labor-hours. 2,100 direct labor-hours. 28,000 direct labor-hours. 25,400 direct labor-hours.
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