Brothern Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the most recently completed year appear below: Estimates made at the beginning of the year: Estimated machine-hours Estimated variable manufacturing overhead Estimated total fixed manufacturing overhead Actual machine-hours for the year The predetermined overhead rate for the recently completed year was closest to: Multiple Choice $6.73 per machine-hour $28.56 per machine-hour $29.05 per machine-hour $22.32 per machine-hour 35,900 $6.73 per machine-hour $ 801,288 33,300

Brothern Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the most recently completed year appear below: Estimates made at the beginning of the year: Estimated machine-hours Estimated variable manufacturing overhead Estimated total fixed manufacturing overhead Actual machine-hours for the year The predetermined overhead rate for the recently completed year was closest to: Multiple Choice $6.73 per machine-hour $28.56 per machine-hour $29.05 per machine-hour $22.32 per machine-hour 35,900 $6.73 per machine-hour $ 801,288 33,300

Name: Brothern Corporation bases its predetermined overhead rate on the est
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Description: Brothern Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the most recently completed year appear below:Estimates made at the beginning of the year:Estimated machine-hoursEstimated vari

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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Assume the following: 1. Estimated fixed manufacturing overhead for the coming period of $220,000 2. Estimated variable manufacturing overhead of $2.00 per direct labor hour 3. Actual manufacturing overhead for the period of $320,000 4. Actual direct labor-hours worked of 54,000 hours 5. Estimated direct labor-hours to be worked in the coming period of 55,000 hours. The amount of overhead applied to production during the period is closest to: Note: Round your intermediate value of "Predetermined overhead rate" to two decimal places. Multiple Choice $325,926. $324,000. $336,004.
Itranscript Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 27,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $548,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $714,898 and its actual total direct labor was 27,500 hours. Required: Compute the company's plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.) Predetermined overhead rate per DLH
Henke corporation bases its predetermined overhead rate on the estimated labor hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor hours for the upcoming year at 69,000 labor hours. The estimated variable manufacturing overhead was $7.30 per labor hour and the estimated total fix manufacturing overhead was $1,380,000. The actual labor hours for the year turned out to be 73,000 labor hours. Compute the company's predetermined overhead rate for the recently completed year
ABC Inc. computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 25,000 direct labor hours would be required for the period's estimated level of production. The company also estimated $520,000 of fixed manufacturing cost for the coming period and variable manufacturing overhead of $4 per direct labor-hour. ABC's actual manufacturing overhead cost for the year was $671,925 and its actual total direct labor was 25,500 hours. Compute the company's plantwidew predetermined overhead rate for the year.
Winston Company estimates that total factory overhead for the following year will be $1,050,300. The company has decided that the basis for applying factory overhead should be machine hours, which are estimated to be 38,900 hours. The total machine hours for the year were 54,200. The actual factory overhead for the year was $1,455,000. a. Determine the total factory overhead applied. Round to the nearest dollar. b. Compute the over- or underapplied factory overhead for the year. c. Journalize the entry to transfer the over- or underapplied factory overhead to Cost of Goods Sold. If an amount box does not require an entry, leave it blank.
TNQBTK124 Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the most recently completed year appear below: (ID#82312) Estimates made at the beginning of the year: Estimated machine-hours Estimated variable manufacturing overhead Estimated total fixed manufacturing overhead Actual machine-hours for the year Multiple Choice O (Baruch College Exam) Q) What was TNQBTK124 Corp.'s predetermined overhead rate for the recently completed year? (choose the closest answer) $32.27 per machine-hour $31.93 per machine-hour $25.35 per machine-hour $ $6.92 per machine-hour 43,000 6.92 per machine-hour $1,090,050 40,900
A company estimates its manufacturing overhead will be $525,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? When required, round your answers to nearest cent. A. Budgeted direct labor hours: 42,000 per direct labor hour B. Budgeted direct labor expense: $1,050,000 per direct labor dollar C. Estimated machine hours: 70,000 per machine hour
Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 65,000 labor-hours. The estimated variable manufacturing overhead was $8.10 per labor-hour and the estimated total fixed manufacturing overhead was $1,092,000. The actual labor-hours for the year turned out to be 67,800 labor-hours. Required: Compute the company's predetermined overhead rate for the recently completed year Note: Round your answer to 2 decimal places. Predetermined overhead rate per labor-hour
Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upćoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 80,000 labor-hours. The estimated variable manufacturing overhead was $10.70 per labor-hour and the estimated total fixed manufacturing overhead was $1,440,000. The actual labor-hours for the year turned out to be 84,000 labor-hours. Required: Compute the company's predetermined overhead rate for the recently completed year. (Round your answer to 2 decimal places.) Predetermined overhead rate per labor-hour
Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 43,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $537,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.00 per direct labor-hour, Harris's actual manufacturing overhead cost for the year was $702,019 and its actual total direct labor was 43,500 hours. Required: Compute the company's plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.) Predetermined overhead rate per DLH
Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 20,000 direct labor-hours would be required for the period’s estimated level of production. The company also estimated $94,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $123,900 and its actual total direct labor was 21,000 hours. Required: Compute the company's plantwide predetermined overhead rate for the year. Note: Round your answer to 2 decimal places.
Hyu Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 56,000 labor-hours. The estimated variable manufacturing overhead was $3.18 per labor-hour and the estimated total fixed manufacturing overhead was $1,237,160. The actual labor-hours for the year turned out to be 56,600 labor-hours. The predetermined overhead rate for the recently completed year was closest to: Multiple Choice $22.49. $3.18. $25.01. $25.27.