Dreamworks studios estimated solve this accounting questions Dreamworks Studios established its predetermined overhead rate forfilms produced during 2023 using the following estimates:Estimated overhead costs: $2,400,000 Estimated direct labor costs:$600,000At the end of 2023, the company's actual results showed:⚫ Actual overhead costs: $2,100,000Actual direct labor costs were assigned as follows:。 Films completed and released: $350,000о。 Films in production: $150,000Total actual direct labor cost: $500,000Required: Determine the predetermined overhead rate for 2023.

Step 1: Definition of Predetermined Overhead RateThe predetermined overhead rate is a rate used to…

Answered: Dreamworks Studios established its…

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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Assume you made the following two predictions for 2022 for one of your production facilities: Total manufacturing overhead for the year $15,000,000Total direct labor hours for the year 800,000 Actual results for July 2022 were as follows: Manufacturing overhead $1,238,500Direct labor hours 98,500 Calculate the predetermine overhead rate per direct labor hour for 2022.
A company estimates its manufacturing overhead will be $630,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? When required, round your answers to nearest cent. A. Budgeted direct labor hours: 72,000 $______ per direct labor hour B. Budgeted direct labor expense: $1,800,000 $_____ per direct labor dollar C. Estimated machine hours: 120,000 $_____ per machine hour
Richards Manufacturing estimates the following activity for the coming year: ⚫ expected production 20 000 units ⚫ expected direct labour hours 20 000 hours ⚫ expected manufacturing overhead $200 000. Manufacturing overhead is allocated on the basis of direct labour hours. At the end of the financial period, the following information was collected: ⚫ direct labour hours 18 000 hours ⚫ manufacturing overhead $240 000. a. Calculate the predetermined manufacturing overhead rate at the beginning of the year. b. Calculate the actual manufacturing overhead rate for the year.
Aaron, Inc. estimates direct labor costs and manufacturing overhead costs for the coming year to be $760,000 and $500,000, respectively. Aaron allocates overhead costs based on machine hours. The estimated total labor hours and machine hours for the coming year are 16,000 hours and 5,000 hours, respectively. What is the predetermined overhead allocation rate? (Round your answer to the nearest cent.) OA. $1.52 per labor hour OB. $100.00 per machine hour OC. $152.00 per machine hour O D. $31.25 per labor hour
Aaron, Inc. estimates direct labor costs and manufacturing overhead costs for the coming year to be $770,000 and $500,000, respectively. Aaron allocates overhead costs based on machine hours. The estimated total labor hours and machine hours for the coming year are 17,000 hours and 5,000 hours, respectively. What is the predetermined overhead allocation rate? (Round your answer to the nearest cent.) A. $29.41 per labor hour B. $1.54 per labor hour C. $154.00 per machine hour D. $100.00 per machine hour
Financial Accounting
Calculate the firm's predetermined overhead rate
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SimPle Tech Corporation bases its predetermined overhead rate on the estimatedmachine-hours for the upcoming year.At the beginning of 2020, the Corporation estimated the machine-hours for the upcoming year at 10,000 machine-hours. The estimated variable manufacturing overhead was $6.82 per machine-hour and the estimated total fixed manufacturing overhead was $230,200. The predetermined overhead rate for 2020 is estimated at _____________.A. $29.84 per machine hourB. $23.15 per machine hourC. $23.02 per machine hourD. $6.82 per machine hour Give workings for your answer
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A company estimates its manufacturing overhead will be $1,080,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? When required, round your answers to nearest cent. A. Budgeted direct labor hours: 72,000 $fill in the blank 1 per direct labor hour B. Budgeted direct labor expense: $1,800,000 $fill in the blank 2 per direct labor dollar C. Estimated machine hours: 120,000 $fill in the blank 3 per machine hour
Swifty Corporation provided the following information from its accounting records for 2019: Expected production 50000 labor hours Actual production 46000 labor hours Budgeted overhead $1600000 Actual overhead $1540000 How much is the overhead application rate if Swifty Corporation bases it on direct labor hours? $34.78 per hour $33.48 per hour $32.00 per hour $30.80 per hour

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