company expected its annual overhead costs to be $8. 200 and machine hours to equal 107000 hours. Actual overhead was $749000, and actual machine hours totalled 98000 hours How much overhead was over or underapplied? O $4200 underapplied O $68400 underapplied O $69000 over-applied O $64400 underapplied

company expected its annual overhead costs to be $8. 200 and machine hours to equal 107000 hours. Actual overhead was $749000, and actual machine hours totalled 98000 hours How much overhead was over or underapplied? O $4200 underapplied O $68400 underapplied O $69000 over-applied O $64400 underapplied

Name: A company expected its annual overhead costs to be $813200 and machin
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Description: A company expected its annual overhead costs to be $813200 and machine hours to equal107000 hours. Actual overhead was $749000, and actual machine hours totalled 98000 hours.How much overhead was over or underapplied?$4200 underappliedO $68400 under

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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The management of Casablanca Manufacturing Corporation believes that machine-hours is an appropriate measure of activity for overhead cost Shown below are machine-hours and total overhead costs for the past six months: Machine- Overhead Нours Cost Jan 150,000 P339,000 Feb 140,000 P328,000 Mar 160,000 P350,000 Apr 130,000 P319,500 May 170,000 P362,500 Jun 200,000 P400,000 Assume that the relevant range includes all of the activity levels mentioned in this problem. If Casablanca expects to incur 185,000 machine hours next month, what will the estimated total overhead cost be using the high-low method?
Manufacturing overhead was estimated to be OMR 400,000 for the year along with estimated 20,000 direct labor hours. Actual manufacturing overhead was OMR 415,000, and actual labor hours were 21,000. The amount debited to the Manufacturing Overhead account would be: a. None of the given answer is correct O b. OMR 435,750. O C. OMR 400,00O. O d. OMR 415,000. O e. OMR 420,000. der costing system with a single
A company estimated 111,680 direct labor hours and $810,549 in overhead. The actual overhead was $875,663, and there were 108,349 direct labor hours. How much is overhead under- or over- applied? Round to the nearest penny, two decimal places. Enter an overapplied overhead as a negative amount. For example, if it is overapplied by 500.00, the input would be -500.00 do not use parenthesis.
S Ltd absorbs overheads based on units produced. In one period 110,000 units were produced and the actual overheads were £500,000. Overheads were £50,000 over-absorbed in the period. What is the overhead absorption rate was per unit? a. 11,000 b. £6 c. 55000 d. £5
For its inspecting cost pool, Bramble, Inc. estimated overhead cost of $520000 and 4000 inspections. The actual overhead cost for that cost pool was $600000 for 5000 inspections. The activity-based overhead rate used to assign the costs of the inspecting cost pool to products is O $150 per inspection. O $104 per inspection O $130 per inspection O $120 per inspection.
Charlotte Taylor is 24 years old and single, lives in an apartment, and has no dependents. Last year (2018) she earned $53,000 as a sales assistant for Office Furniture Rentals; $6,810 of her wages was withheld for federal income taxes. In addition, she had interest income of $234. The standard deduction in 2018 was $12,000 for single. Note that personal exemptions were suspended for 2018. Refer to Exhibit 3.3 for the appropriate tax rate schedule. a. Estimate her taxable income.$ b. Estimate her tax liability. Round the answer to the nearest cent. Use unrounded values in later calculations. (Hint: Use the tax rate schedules given in Exhibit 3.3 to determine her tax liability.)$ c. Estimate her tax refund or tax owed. Enter tax owed, if any, as negative amount. Round the answer to the nearest cent.$
A company estimated 111,680 direct labor hours and $810,549 in overhead. The actual overhead was $875,663, and there were 108,349 direct labor hours. How much is overhead under- or over- applied? Round to the nearest penny, two decimal places. Enter an overapplied overhead as a negative amount. For example, if it is overapplied by 500.00, the input would be -500.00 do not use parenthesis.
Crosshill Company's total overhead costs at various levels of activity are presented below: Month Machine- Hours Total Overhead Cost April 70,000 $ 202,200 May 60,000 $ 180,300 June 80,000 $ 224,100 July 90,000 $ 246,000 Assume that the overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 60,000-machine-hour level of activity in May is as follows: Utilities (variable) $ 52,200 Supervisory salaries (fixed) 21,000 Maintenance (mixed) 107,100 Total overhead cost $ 180,300 The company wants to break down the maintenance cost into its variable and fixed cost elements. Required: 1. Estimate how much of the $246,000 of overhead cost in July was maintenance cost. (Hint: To do this, first determine how much of the $246,000 consisted of utilities and supervisory salaries. Think about the behaviour of variable and fixed costs within the relevant range.) (Round the "Variable cost per unit" to 2 decimal places.) 2. Using the high-low…
Coronado Company applies overhead on the basis of machine hours. Given the following data, what is the overhead applied and the under-or overapplication of overhead for the period? Estimated annual overhead cost Actual annual overhead cost Estimated machine hours Actual machine hours $3100000 $2940000 350000 280000 O $2480000 applied and $460000 overapplied O $2940000 applied and neither under- nor overapplied O $2480000 applied and $460000 underapplied O $3100000 applied and $460000 overapplied
Solution method please.
Saved Manufacturing overhead was estimated to be $213,150 for the year along with 20,300 direct labor hours. Actual manufacturing overhead was $194,500, and actual direct labor hours were 19,500. Which of the following would be correct? Multiple Cholce Overhead is underapplied by $11,600, Overhead Is underapplied by $10,250. Overhead is overapplied by $10,250. Overhead is overapplied by $11,600.
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