compute overhead applied and the under-or overapplication of overhead for the period: Estimated annual overhead cost OMR 1,600,000 Actual annual overhead cost OMR 1,575,000 Estimated machine hours 400,000 Actual machine hours 390,000 compute overhead applied and the under-or overapplication of overhead for the period: Select one: O a. OMR 1,600,000 applied and OMR 15,000 overapplied O b. OMR 1,560,000 applied and OMR 15,000 overapplied Oc. OMR 1,560,000 applied and OMR 15,000 underapplied d. None of the answers are correct e. OMR 1,575,000 applied and neither under-nor.overapplied

compute overhead applied and the under-or overapplication of overhead for the period: Estimated annual overhead cost OMR 1,600,000 Actual annual overhead cost OMR 1,575,000 Estimated machine hours 400,000 Actual machine hours 390,000 compute overhead applied and the under-or overapplication of overhead for the period: Select one: O a. OMR 1,600,000 applied and OMR 15,000 overapplied O b. OMR 1,560,000 applied and OMR 15,000 overapplied Oc. OMR 1,560,000 applied and OMR 15,000 underapplied d. None of the answers are correct e. OMR 1,575,000 applied and neither under-nor.overapplied

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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Time left 1:5 Predetermined overhead rates are calculated: O a. based on estimated total manufacturing overhead costs O b. at the beginning of the accounting period once the actual amount of manufacturing overhead is known. O c. first and then multiplied by total actual units of the allocation base to compute the applied manufacturing overhead costs. O d. All the given answers are correct. O e. by dividing total estimated manufacturing overhead cost by estimated units of the allocation base. As production takes place, all manufacturing costs are added to the: O a. Production Labor account. O b. Manufacturing-Overhead Inventory account. O C. Finished-Goods Inventory account. Od. Cost-of-Goods-Sold account. е. Work-in-Process Inventory account. CLEAR MV CHOLCE .edu.om/mod/quiz/attempt.php?attempt=1764887&cmid=875183&page=13#question-1984017-11
a. Using FIFO method, what is the equivalent production in units of Materials? b.Using FIFO method, what is the equivalent-unit material cost for the period? c. Using FIFO method, what is the equivalent production in units of Conversion Costs?
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29. All indirect expenditure incurred from the time the product is completed until it reaches its destination are called_____________. a. Selling Overhead b. Production Overhead c. Distribution Overhead d. Office Overhead
James Smith has been studying his department's profitability reports for the past six months. He has just completed a managerial accounting course and is beginning to question the company's approach to allocating overhead to products based on machine hours. The current department overhead budget of $ 602,500 is based on 30,125 machine hours. In an initial analysis of overhead costs, James has identified the following activity cost pools. Cost Pool Expected Cost Expected Activities Product assembly $ 340,000 34,000 machine hours Machine setup and calibration 175,000 3,500 setups Product inspection 37,500 1,250 batches Raw materials storage 50,000 200,000 pounds $ 602,500
Assign costs to the department’s output—specifically, to the units transferred out and to the units that remain in work in process at period-end. (Round "Cost per EUP" to 2 decimal places.)
ACCT 102 - Subparts g h and i
Hultquist Corporation has two manufacturing departments--Forming and Customizing. The company used the following data at the beginning of the period to calculate predetermined overhead rates: Estimated total machine-hours (MHS) Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per MH Forming Customizing Total 6,000 4,000 10,000 $20,400 $ 2.50 $9,600 $30,000 $ 5.00 During the period, the company started and completed two jobs-Job C and Job L. Data concerning those two jobs follow: Job C Job L $15,500 $9,100 $22,300 $9,300 1,250 4,750 1,250 2,750 Direct materials Direct labor cost Forming machine-hours Customizing machine-hours
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The predetermined overhead rate is: Select one: O a. 60 O b.5 O c 20 O d. 1.2 O e. None of the answers are correct