Davie Company used estimated direct labor hours of 180,000 and estimated manufacturing overhead co predetermined manufacturing overhead rate. Actual results showed: Actual manufacturing overhead $950,000 Allocated manufacturing overhead $962,500 What was the number of direct labor hours worked during 2012? O a. $186,000 O b. $180,000

Davie Company used estimated direct labor hours of 180,000 and estimated manufacturing overhead co predetermined manufacturing overhead rate. Actual results showed: Actual manufacturing overhead $950,000 Allocated manufacturing overhead $962,500 What was the number of direct labor hours worked during 2012? O a. $186,000 O b. $180,000

Name: Davie Company used estimated direct labor hours of 180,000 and estima
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Description: Davie Company used estimated direct labor hours of 180,000 and estimated manufacturing overhead costs of $990,000 in establishing its 2012predetermined manufacturing overhead rate. Actual results showed:Actual manufacturing overheadAllocated manufac

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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Lakeside Company estimated manufacturing overhead costs for 2014 at $390,000, based on 160,000 estimated direct labor hours. Actual direct labor hours for 2014 totaled 195,000. The manufacturing overhead account contains debit entries totaling $391,500. The manufacturing overhead for 2014 was: (Round your intermediate calculations to one decimal place)
The following information is available: -Estimated Factory Overhead for the year $10,000 -Estimated Direct Labor Hours for the year 5,000 -Actual Factory Overhead for the year $9,500 -Actual Direct Labor Hours for the year 5,010 1. What is the amount of the Applied Factory overhead? A. $9,969.90 B.$10,020.00 C.$9,468.90 D. Not enough information 2.Total factory payroll paid was $60,000 of which $5,000 is indirect labor. What is the journal entry? A. FOH $65,000; Wages Payable $65,000 B. WIP $55,000; Wages Payable $60,000; FOH $5,000 C. WIP $60,000, FOH 5,000; Cash $65,000 D. WIP $55,000; FOH 5,000; Cash $60,000 3. The Cost of Goods Manufactured ($20,00) was transferred out of the factory. What is the journal entry? A. FG $20,000; WIP $20,000 B. FG $20,000; COGS $20,000 C. WIP $20,000; FG $20,000 D. COGM $20,000; $20,000
A Company estimates its overhead to be $375,000 It expects to have 125,000 direct labor hours costing $1,500,000 in labor It expects to utilize 15,000 machine hours Calculate the predetermined overhead rate using: Direct labor hours Direct labor dollars Machine hours Predetermined overhead allocation rate= estimated manufacturing overhead cost/ allocation base
Determine the manufacturing overhead of Cleene Company using the following information: • Work in process, ending_P8,000 • Work in process, beginning_P11,000 • Cost of goods manufactured_P70,000 • Direct labor_P25,000 • Direct materials_P20,000
The following Information relates to a company that has two manufacturing departments. The company used the following data at the beginning of the period to calculate predetermined overhead rates: Dept. X 4,000 $22,000 $ 3.00 Dept. Y 6,000 $20,400 $ 6.00 Total Estimated total machine-hours (MHS) Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per MH 10,eee $42,400 During the perlod, the company started and completed two Jobs--Job A and Job B. Data concerning those two Jobs follow: Job A Job B Direct materials $22,500 $8,400 $22,700 $8,000 2,500 1,250 Direct labor cost Molding machine-hours Assembly machine-hours 1,500 4,750 Requlred: 1. Assume the company uses a plantwide predetermined manufacturing overhead rate based on machine hours. a. Calculate the overhead rate. (Round your answer to 2 decimal places.) b. Calculate the amount of manufacturing overhead applied to Job A. (Do not round Intermedlate calculatlons.) c. Calculate the…
What is the total manufacturing cost to account for??
Sohar Factory applies manufacturing overhead based on machine hours. Information concerning manufacturing overhead and labor for the year as follows: Actual manufacturing overhead OMR 360,000 costs Estimated manufacturing overhead 1,500,000 Actual machine hours used 10,000 Estimated machine hours 300,000 Estimated labor hours 6,000 Actual labor hours 7,500 The amount of manufacturing overhead to be applied is:
Action corporation, which applies manufacturing overhead on the basis of labor hours, has provided the following data for its most recent year of operations. Estimated labor hours were 3,900. Actual labor hours were 3800. Note that labor hours are used. Estimated manufacturing overhead $137,080 Estimated machine-hours 3,800 Actual manufacturing overhead $137,000 Actual machine-hours 3,780 The applied manufacturing overhead for the year is closest to: $136,269 $138,348 $135,513 $133,565 None of the above Please show work.
services 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 OMR41,000 overhead for the year? What was the estimated man turi Select one: O a. OMR49,200 O b.OMR39,600 O c. None of the answers given O d. OMR46,800 e OMRS1,600 ge Next page
The following information is obtained from the company’s records for 2014: Total manufacturing costs, P8,000,000 Cost of finished goods manufactured, P7,920,000 Manufacturing overhead applied, P3,600,000 Manufacturing overhead was applied to production at a rate of 200% of direct laborcosts The peso amount of work in process inventory on January 1, 2014 was P320,000.What is the cost of direct materials used in 2014?a. P2,600,000b. P2,500,000c. P1,800,000d. P3,600,000