Hello tutor please provide this question solution accounting Digger Inc. sells a high-speed retrieval system for mining information. Itprovides the following information for the year.BudgetedActualOverhead cost$1,122,000 $1,092,000Machine hours56,20048,700Direct labor hours 102,00098,0001. Compute the predetermined overhead rate.2. Determine the amount of overhead applied for the year.

Step 1: Define Predetermined Overhead RateAs manufacturing overhead cannot be directly traceable to…

Answered: Digger Inc. sells a high-speed…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 7EB: A company estimates its manufacturing overhead will be $840,000 for the next year. What is the...

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Digger Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year. Budgeted Actual Overhead cost $1,513,600 $1,486,600 Machine hours 56,600 47,700 Direct labor hours 110,000 104,000 Overhead is applied on the basis of direct labor hours. Compute the predetermined overhead rate. (Round answer to 2 decimal places, e.g. 12.25.) Predetermined overhead rate per direct labor hour LINK TO TEXT INTERACTIVE TUTORIAL Determine the amount of overhead applied for the year. Amount of overhead applied
Digger Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year. Budgeted Actual Overhead cost $1,522,610 $1,494,610 Machine hours 58,000 49,600 Direct labor hours 107,000 102,500 Overhead is applied on the basis of direct labor hours. (a) Compute the predetermined overhead rate. (Round answer to 2 decimal places, e.g. 12.25.) Predetermined overhead rate per direct labor hour
Digger Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year.Overhead cost Machine hours Direct labor hoursBudgeted$975,000 50,000 100,000Actual$950,000 45,000 92,000Overhead is applied on the basis of direct labor hours. (a) Compute the predetermined overhead rate. (b) Determine the amount of overhead applied for the year.
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A company has identified the following overhead costs and cost drivers for the coming year. Overhead item Cost driver Budgeted Activity Budgeted Overhead Machine set – up Number of sets – up 200 P 20,000 Inspection Number of inspections 6,500 P130,000 Material handling Number of materials moves 8,000 P 80,000 Engineering Number of engineering hours 1,000 P 50,000 Total P 280,000 The following information was collected on three jobs that were completed during the year: Job 101 Job 102 Job 103 Direct materials P 5,000…
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General accounting
Correct status of manufacturing overhead at year end?
Audio Zone Co. needs to prepare pro forma financial statements for the next fiscal year. To do so, the company must forecast its total overhead cost. The actual machine hours and total overhead cost are presented below for the past six months. Total Machine Month Overhead Hours Jan. $6, 288 1,980 Feb. 6,460 2,090 Mar. 5,987 1,745 Apr. 5,559 1,560 Мay 6,032 1,865 June 6,341 2,012 Using the high-low method, total monthly fixed overhead cost is calculated to be:
Calculate the predetermined Overhead Rate .
Please do not give solution in image format
How much total overhead was applied during the year?

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