Cullumber Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $252,000 for the year, and machine usage is estimated at 105,000 hours. For the year, $270,480 of overhead costs are incurred, and 109,200 hours are used. Part 1 Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e.g. 1.25.) Manufacturing overhead rate $ eTextbook and Media List of Accounts Save for Later Part 2 What is the amount of under- or overapplied overhead at December 31? Manufacturing Overhead eTextbook and Media per machine hour $ Attempts: 0 of 2 used Submit Answer
Cullumber Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $252,000 for the year, and machine usage is estimated at 105,000 hours. For the year, $270,480 of overhead costs are incurred, and 109,200 hours are used. Part 1 Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e.g. 1.25.) Manufacturing overhead rate $ eTextbook and Media List of Accounts Save for Later Part 2 What is the amount of under- or overapplied overhead at December 31? Manufacturing Overhead eTextbook and Media per machine hour $ Attempts: 0 of 2 used Submit Answer
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter2: Job Order Costing
Section: Chapter Questions
Problem 9E: Eclipse Solar Company operates two factories. The company applies factory overhead to jobs on the...
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List of accounts
Accounts Payable
Accounts Receivable
Accumulated Depreciation -Buildings
Accumulated Depreciation-Equipment
Cash
Cost of Completed Service Contracts
Cost of Goods Sold
Depreciation Expense
Employer Fringe Benefits Payable
Employer Payroll Taxes Payable
Factory Labor
Factory Wages Payable
Finished Goods Inventory
Manufacturing Overhead
Operating Overhead
Prepaid Property Taxes
Raw Materials Inventory
Salaries and Wages Payable
Sales Revenue
Service Contracts in Process
Service Salaries and Wages
Supplies
Utilities Payable
Work in Process Inventory
![Cullumber Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to
total $252,000 for the year, and machine usage is estimated at 105,000 hours.
For the year, $270,480 of overhead costs are incurred, and 109,200 hours are used.
Part 1
Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e.g. 1.25.)
Manufacturing overhead rate $
eTextbook and Media
List of Accounts
Save for Later
Part 2
What is the amount of under- or overapplied overhead at December 31?
dou
Manufacturing Overhead
eTextbook and Media
per machine hour
$
Attempts: 0 of 2 used
Submit Answer](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffaa03fab-f285-443e-95a5-3f4098efa8b2%2F4ca5d45a-3e3f-458a-8ef9-fd4a16fe6f4c%2F6gvw1dp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Cullumber Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to
total $252,000 for the year, and machine usage is estimated at 105,000 hours.
For the year, $270,480 of overhead costs are incurred, and 109,200 hours are used.
Part 1
Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e.g. 1.25.)
Manufacturing overhead rate $
eTextbook and Media
List of Accounts
Save for Later
Part 2
What is the amount of under- or overapplied overhead at December 31?
dou
Manufacturing Overhead
eTextbook and Media
per machine hour
$
Attempts: 0 of 2 used
Submit Answer
![Part 3
Prepare the adjusting entry to assign the under- or overapplied overhead for the year to cost of goods sold. (List all debit entries
before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Account Titles and Explanation
oland Media
Debit
Credit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffaa03fab-f285-443e-95a5-3f4098efa8b2%2F4ca5d45a-3e3f-458a-8ef9-fd4a16fe6f4c%2Fn23oq7_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Part 3
Prepare the adjusting entry to assign the under- or overapplied overhead for the year to cost of goods sold. (List all debit entries
before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Account Titles and Explanation
oland Media
Debit
Credit
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