Using the most appropriate overhead application based, the appliead factory overhead for the year is _________________ Cille Yuan Manufacturing Company makes only one product. The company has a normal capacityof 32,000 units annually. Cille Yuan is expecting to produce 30,000 units next year but during theyear, it actually produced 31,000 units. The company accountant has budgeted the following factoryoverhead costs for the coming year:P2 per unit144,000 plus P2 per unit60,000 plus PO.04 per unit20,000 plus PO.34 per unit16,000 plus PO.12 per unit210,000 per year50,000 per year12,000 per yearIndirect materialsIndirect laborPlant utilitiesRepairs for the plantMaterial handling costsDepreciation plant assetsRent of plant buildingInsurance on plant buildingUsing the most appropriate overhead application based, the applied factory overhead for the year is

Name: Using the most appropriate overhead application based, the appliead fa
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Using the most appropriate overhead application based, the appliead factory overhead for the year is _________________ Cille Yuan Manufacturing Company makes only one product. The company has a normal capacityof 32,000 units annually. Cille Yuan is e

Total indirect labor = 1440000 + No. of units produced x P2 per unit = 144000 + 31000 units x P2 per…

Business

Accounting

Cille Yuan Manufacturing Company makes only one product. The company has a normal capacity of 32,000 units annually. Cille Yuan is expecting to produce 30,000 units next year but during the year, it actually produced 31,000 units. The company accountant has budgeted the following factory overhead costs for the coming year: Indirect materials Indirect labor Plant utilities Repairs for the plant Material handling costs Depreciation plant assets Rent of plant building Insurance on plant building P2 per unit 144,000 plus P2 per unit 60,000 plus PO.04 per unit 20,000 plus PO.34 per unit 16,000 plus PO.12 per unit 210,000 per year 50,000 per year 12,000 per year Using the most appropriate overhead application based, the applied factory overhead for the year is

Cille Yuan Manufacturing Company makes only one product. The company has a normal capacity of 32,000 units annually. Cille Yuan is expecting to produce 30,000 units next year but during the year, it actually produced 31,000 units. The company accountant has budgeted the following factory overhead costs for the coming year: Indirect materials Indirect labor Plant utilities Repairs for the plant Material handling costs Depreciation plant assets Rent of plant building Insurance on plant building P2 per unit 144,000 plus P2 per unit 60,000 plus PO.04 per unit 20,000 plus PO.34 per unit 16,000 plus PO.12 per unit 210,000 per year 50,000 per year 12,000 per year Using the most appropriate overhead application based, the applied factory overhead for the year is

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Required information The Foundational 15 (Algo) [LO2-1, LO2-2, LO2-3, LO2-4] [The following information applies to the questions displayed below.] Sweeten Company had no jobs in progress at the beginning of the year and no beginning inventories. It started, completed, and sold only two jobs during the year-Job P and Job Q. The company uses a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours would be required for the period's estimated level of production. Sweeten also estimated $29,800 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.90 per machine-hour. Because Sweeten has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following additional information to enable calculating departmental overhead rates:…
explain why the factory overhead balance must be disposed of at year end?
At the end of a period, what balance should remain in the Factory Overhead account?
Comparing actual to allocated overhead Columbus Enterprises reports the following information at December 31, 2018: Requirements What is the actual manufacturing overhead of Columbus Enterprises? What is the allocated manufacturing overhead?
Assume (1) estimated direct labor hours used to calculate the predetermined overhead rate = 19,950, (2) the manufacturing overhead applied to production = $105,000, and (3) the total direct labor hours actually worked during the period = 21,000.What is the estimated total manufacturing overhead cost for the period?
calculate the manufacturing overhead rate of the year . round the answer to 2 decimal places
2. Which of the following is a possible cost driver that may be used in calculating a company's predetermined overhead rate? A) Direct labour hours B) Direct labour dollars C) Machine hours D) All of the above
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 O O $6.73 per machine-hour $28.56 per machine-hour $29.05 per machine-hour O $22.32 per machine-hour 35,900 $ 6.73 per machine-hour $ 801,288 33,300
Total manufacturing costs for a period consist of the cost of direct materials used, the cost of direct labour incurred, and the actual manufacturing overhead cost incurred during the period. True O False
Is Manufacturing Overhead cost allocated to jobs by precisely identifying the overhead cost of each job or by an estimation? Explain.
Application of Factory Overhead Tomek Company uses a job costing system that applies factory overhead on the basis of direct labor-hours. The company’s factory overhead budget for 2010 included the followinRg estimates:
What is the total factory overhead costs incurred by Regional Safety Supplies during the period?