Company XYZ uses direct labor hours to allocate its manufacturing overhead. The companyestimates that total direct labor hours to be operated next year are 250,000 hours. Theestimated variable overhead is OMR10 per hour and the estimated fixed overhead costs areOMR750,000. Calculate the predetermined overhead rate.Select one:a. OMR3.00b. OMRO.08C. None of the answers givend. OMR14.00OMB13.00

Predetermined overhead rate: It can be defined as a rate that is used by the business to allocate…

Answered: Company XYZ uses direct labor hours to…

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

Leo Company wishes to determine the fixed portion of its electrical costs (a mixed cost). Management believes that the variable portion of the electrical costs is driven by machine-hours. Information for the previous three months follows: Machine-hours Electrical cost August 33 000 R6 000 September 31 000 R5 850 October 34 000 R6 100 Using the high-low method, the fixed portion of the company's electrical costs would be estimated to be closest to: A. R3 750 B. R4 080 C. R3 267 D. R2 830
from where the $ 3 amount that I highlighted is coming from, please , can you explain me. Thank you
i need solution for this ..
[The following information applies to the questions displayed below.] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct material: 4 pounds at $8.00 per pound \table[[{fcbfd2c16-e6db-4579-9aec-24d6bce88229} \table[[32.00],[32.00],[12.00]]],[$76.00
Please help me with show all Calculation thanku
4. Nova Company's total overhead cost at various levels of activity are presented below: Month April May June July Machine hours 70,000 60,000 80,000 90,000 Utilities (variable). Supervisory salaries (fixed). Maintenance (mixed) Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these May month's costs at the 60,000 machine-hour level of activity is: $ 42,000 $ 27,000 $ 105,000 Total overhead cost......... $174,000 Total O/H cost $205,000 $174,000 $235,000 $255.000 1. Estimate how much of the $255,000 of overhead cost in July was maintenance cost. 2. Using the high-low method, estimate a cost formula for maintenance, and identify the maintenance cost for 120,000 machine hours
XYZ industries applies overhead based on direct labor cost. The following information was available for the last year: Actual manufacturing overhead OMR50,000; Underapplied manufacturing overhead OMR10,400; Actual Prime cost OMR52,000; Actual Direct material cost OMR19,000; Estimated direct labor cost OMR43,000. What was the estimated manufacturing overhead for the year? Select one: a. None of the answers given O b. OMR49,200 O c. OMR51,600 O d. OMR39,600 O e. OMR46,800
Please help me. Thankyou.
2. In 2019, the Creighton Agricultural Products Company used a predetermined manufacturing overhead rate of 150% times direct labor cost. Information for the year is as follows: Actual direct materials cost $812,500 $180,000 Actual direct labor cost Actual overhead costs incurred $264,000 5,520 Total direct labor hours What is the amount of the adjustment to COGS required due to the over or under allocation of overhead costs. A. None of the choices B. $5,900 C. $4,300 D. $6,000
5
Company XYZ uses machine hours to allocate its manufacturing overhead. The company estimates that total machine hours to be operated next year are 190,000 hours. The estimat variable overhead is $9 per hour and the estimated fixed overhead costs are $152,000. Calculate the predetermined overhead rate. Select one: O a. $10.80 Ob. $9.80
Your Company uses a predetermined overhead rate based on machine hours to apply manufacturing overhead to jobs. Last year, the company worked 38,500 direct labor-hours and incurred $756,800 of actual manufacturing overhead cost. Overhead was over-applied by $5,000. What was the predetermined overhead rate? (Round to two digits if necessary.) Group of answer choices $19.15 $19.66 $19.79 $19.53 $19.50

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS