I won't to this question answer general Accounting At the end of the year, overhead applied was$3,285,484. Actual overhead was $3,677,594. Closingover/under applied overhead into cost of goods soldwould cause net income to increase/decrease by

Applied and Actual OverheadApplied Overhead: This is the estimated overhead costs that the company…

Answered: At the end of the year, overhead…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 1CP

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What are the total costs to account for if a companys beginning inventory had $231,432 in materials, $186,450 in conversion costs, and added direct material costs ($4,231,392), direct labor ($2,313,392), and manufacturing overhead ($1,156,696)?
At the end of the year, overhead applied was $35,000,000. Actual overhead was $34,300,000. Closing over/under applied overhead into cost of goods sold would cause net income to: O Decrease by $300,000 O Remain constant O Increase by $700,000 O Decrease by $700,000
At the end of the year, factory overhead applied was $3,744,000. Actual factory overhead was $3,425,000. Closing over/underapplied overhead into Cost of Goods Sold would cause net income to O a increase by $319,000 Ob decrease by $638,000 O increase by $630,000 Od decrease by $319,000 €
The contribution margin per unit ? posted in general account.
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A company has a net income of $918,000 based on variable costing method. Beginning and ending inventories were 56,800 units and 55,600 units. Assume the fixed overhead per unit was $2.15 for both the beginning and ending inventory. What will be the net income under absorption costing?
Overapplied Or Underupplied?
Ming Company had income of $771,200 based on variable costing. Beginning and ending finished goods inventories were 7,700 units and 5,100 units, respectively. Assume the fixed overhead per unit was $2.90 for both the beginning and ending finished goods inventory. What is income under absorption costing? (Amounts to be deducted should be indicated with a minus sign.) Variable costing income Fixed overhead in beginning FG inventory Fixed overhead in ending FG inventory Absorption costing income

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At the end of the year, overhead applied was $3,285,484. Actual overhead was $3,677,594. Closing over/under applied overhead into cost of goods sold would cause net income to increase/decrease by