$98,000 per quarter. The only noncash element of manufacturing overhead is depreciation, which is $38,000 per quarter.Required:1. Calculate the company's total estimated direct labor cost for each quarter of the upcoming fiscal year and for the year as awhole.2. and 3. Calculate the company's total estimated manufacturing overhead cost and the cash disbursements formanufacturing overhead for each quarter of the upcoming fiscal year and for the year as a whole.Complete this question by entering your answers in the tabs below.Req 1Req 2 and 3Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead forthe the upcoming fiscal year and for the year as a whole.Total manufacturing overheadCash disbursements for manufacturing overhead< Prev1st Quarter< Rea 13 of 3 itt2nd Quarter3rd QuarterRea 2 and 3>Next >4th QuarterYear Check my workThe Production Department of Hruska Corporation has submitted the following forecast of units to be produced by quarterfor the upcoming fiscal year:1st Quarter 2nd Quarter11,80010,8003rd Quarter12,800Units to be producedEach unit requires 0.20 direct labor-hours and direct laborers are paid $16.00 per hour.In addition, the variable manufacturing overhead rate is $1.75 per direct labor-hour. The fixed manufacturing overhead is$98,000 per quarter. The only noncash element of manufacturing overhead is depreciation, which is $38,000 per quarter.Required:1. Calculate the company's total estimated direct labor cost for each quarter of the upcoming fiscal year and for the year as awhole.2. and 3. Calculate the company's total estimated manufacturing overhead cost and the cash disbursements formanufacturing overhead for each quarter of the upcoming fiscal year and for the year as a whole.Complete this question by entering your answers in the tabs below.Req 1Req 2 and 3Calculate the company's total estimated direct labor cost for each quarter of the upcoming fiscal year and for the year as awhole. (Round "Direct labor time per unit (hours)" answers to 2 decimal places.)2nd Quarter 3rd Quarter 4th QuarterTotal direct labor costR1st QuarterNext >Year

Budgeting is a process of estimation of future income and expenditure for a particular period of…

$98,000 per quarter. The only noncash element of manufacturing overhead is depreciation, which is $38,000 per quarter. Required: 1. Calculate the company's total estimated direct labor cost for each quarter of the upcoming fiscal year and for the year as a whole. 2. and 3. Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter of the upcoming fiscal year and for the year as a whole. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for the the upcoming fiscal year and for the year as a whole. 1st Quarter 2nd Quarter Total manufacturing overhead Cash disbursements for manufacturing overhead < Prev Rea 1 3 of 3 # 3rd Quarter Rea 2 and 3 Next > 4th Quarter Year

$98,000 per quarter. The only noncash element of manufacturing overhead is depreciation, which is $38,000 per quarter. Required: 1. Calculate the company's total estimated direct labor cost for each quarter of the upcoming fiscal year and for the year as a whole. 2. and 3. Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter of the upcoming fiscal year and for the year as a whole. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for the the upcoming fiscal year and for the year as a whole. 1st Quarter 2nd Quarter Total manufacturing overhead Cash disbursements for manufacturing overhead < Prev Rea 1 3 of 3 # 3rd Quarter Rea 2 and 3 Next > 4th Quarter Year

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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Concept explainers

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.

Question

$98,000 per quarter. The only noncash element of manufacturing overhead is depreciation, which is $38,000 per quarter.
Required:
1. Calculate the company's total estimated direct labor cost for each quarter of the upcoming fiscal year and for the year as a
whole.
2. and 3. Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for
manufacturing overhead for each quarter of the upcoming fiscal year and for the year as a whole.
Complete this question by entering your answers in the tabs below.
Req 1
Req 2 and 3
Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for
the the upcoming fiscal year and for the year as a whole.
Total manufacturing overhead
Cash disbursements for manufacturing overhead
< Prev
1st Quarter
< Rea 1
3 of 3 itt
2nd Quarter
3rd Quarter
Rea 2 and 3>
Next >
4th Quarter
Year

Check my work
The Production Department of Hruska Corporation has submitted the following forecast of units to be produced by quarter
for the upcoming fiscal year:
1st Quarter 2nd Quarter
11,800
10,800
3rd Quarter
12,800
Units to be produced
Each unit requires 0.20 direct labor-hours and direct laborers are paid $16.00 per hour.
In addition, the variable manufacturing overhead rate is $1.75 per direct labor-hour. The fixed manufacturing overhead is
$98,000 per quarter. The only noncash element of manufacturing overhead is depreciation, which is $38,000 per quarter.
Required:
1. Calculate the company's total estimated direct labor cost for each quarter of the upcoming fiscal year and for the year as a
whole.
2. and 3. Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for
manufacturing overhead for each quarter of the upcoming fiscal year and for the year as a whole.
Complete this question by entering your answers in the tabs below.
Req 1
Req 2 and 3
Calculate the company's total estimated direct labor cost for each quarter of the upcoming fiscal year and for the year as a
whole. (Round "Direct labor time per unit (hours)" answers to 2 decimal places.)
2nd Quarter 3rd Quarter 4th Quarter
Total direct labor cost
R
1st Quarter
<Req 1
< Prev
3 of 3
4th Quarter
13,800
#
Req 2 and 3 >
Next >
Year

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please solve for overhead rate per direct labor cost, overhead rate per direct labor hour, and overhead rate per machine hour
Assume (1) estimated fixed manufacturing overhead for the coming period of $207,000, (2) estimated variable manufacturing overhead of $2.00 per direct labor hour, (3) actual manufacturing overhead for the period of $320,000, (4) actual direct labor-hours worked of 54,000 hours, and (5) estimated direct labor-hours to be worked in the coming period of 55,000 hours. The amount of overhead applied to production during the period is closest to: (Round your intermediate value of "Predetermined overhead rate" to two decimal places.) Multiple Choice $317,000. $311,040. $325,926. $322,564.
9
Emley Company incurred direct materials costs of $750,000 during the year. Manufacturing overhead applied was $700,000 and is applied based on direct labor costs. The predetermined overhead rate is 70%. How much are Emley Company's total manufacturing costs for the year?
United Airlines estimates that the factory overhead for the following year will be $1,400,000. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 50,000 hours. The total machine hours for the year were 54,300 hours. The actual factory overhead for the year was $1,475,000. (a) Determine the total factory overhead amount applied. (b) Calculate the over- or underapplied amount for the year. (c) Prepare the journal entry to close Factory Overhead into Cost of Goods Sold.
Al-Can Products, Inc. estimates that it will build 5,000 benches next year. For this amount of production, total factory overhead is estimated to be $123,456.00. Estimated direct labor costs for next year are $256,190.00. Calculate the factory overhead applied rate for next year as a percentage of direct labor costs.