(CH.12) Question 4 of 4 -15 During the year, 3,600 units were produced, 14,500 hours were worked, and the actual manufacturing overhead was $49,000. Actual fixed manufacturing overhead costs equalled the budgeted fixed manufacturing overhead costs. Overhead is applied based on direct labour hours. (a) Calculate the total, fixed, and variable predetermined manufacturing overhead rates. (Round answers to 2 decimal places, e.g. 15.25.) \table[[Variable manufacturing overhead,$],[Fixed manufacturing overhead,$ During the year, 3,600 units were produced, 14,500 hours were worked, and the actual manufacturing overhead was $49,000. Actualfixed manufacturing overhead costs equalled the budgeted fixed manufacturing overhead costs. Overhead is applied based on directlabour hours.(a)Calculate the total, fixed, and variable predetermined manufacturing overhead rates. (Round answers to 2 decimal places, e.g.15.25.)Variable manufacturing overhead$Fixed manufacturing overheadSTotal manufacturing overhead$Rate2.25Activat

Proceeding to figure out the predetermined manufacturing overhead rates, requires first to find the…

During the year, 3,600 units were produced, 14,500 hours were worked, and the actual manufacturing overhead was $49,000. Actual fixed manufacturing overhead costs equalled the budgeted fixed manufacturing overhead costs. Overhead is applied based on direct labour hours. (a) Calculate the total, fixed, and variable predetermined manufacturing overhead rates. (Round answers to 2 decimal places, e.g. 15.25.) Variable manufacturing overhead $ Fixed manufacturing overhead S Total manufacturing overhead $ Rate 2.25 Activat

During the year, 3,600 units were produced, 14,500 hours were worked, and the actual manufacturing overhead was $49,000. Actual fixed manufacturing overhead costs equalled the budgeted fixed manufacturing overhead costs. Overhead is applied based on direct labour hours. (a) Calculate the total, fixed, and variable predetermined manufacturing overhead rates. (Round answers to 2 decimal places, e.g. 15.25.) Variable manufacturing overhead $ Fixed manufacturing overhead S Total manufacturing overhead $ Rate 2.25 Activat

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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Crosshill Company's total overhead costs at various levels of activity are presented below: Month Machine- Hours Total Overhead Cost April 70,000 $ 202,200 May 60,000 $ 180,300 June 80,000 $ 224,100 July 90,000 $ 246,000 Assume that the overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 60,000-machine-hour level of activity in May is as follows: Utilities (variable) $ 52,200 Supervisory salaries (fixed) 21,000 Maintenance (mixed) 107,100 Total overhead cost $ 180,300 The company wants to break down the maintenance cost into its variable and fixed cost elements. Required: 1. Estimate how much of the $246,000 of overhead cost in July was maintenance cost. (Hint: To do this, first determine how much of the $246,000 consisted of utilities and supervisory salaries. Think about the behaviour of variable and fixed costs within the relevant range.) (Round the "Variable cost per unit" to 2 decimal places.) 2. Using the high-low…
) Jeremy Corporation estimated manufacturing overhead costs for the year to be $500,000. Jeremy also estimated 8,000 machine hours and 2,000 direct labor hours for the year. It bases the predetermined overhead allocation rate on machine hours. On January 31, Job 25 was completed. It required 6 machine hours and 1 direct labor hour. What is the amount of manufacturing overhead allocated to the completed job? (Round your intermediate calculations to one decimal place) A) $1,500.00 B) $437.50 C) $375.00 D) $350.00
Solution method please.
During the year, 3,600 units were produced, 14,500 hours were worked, and the actual manufacturing overhead was $49,000. Actual fixed manufacturing overhead costs equalled the budgeted fixed manufacturing overhead costs. Overhead is applied based on direct labour hours. (a) Calculate the total, fixed, and variable predetermined manufacturing overhead rates. (Round answers to 2 decimal places, e.g. 15.25.) Variable manufacturing overhead $ Fixed manufacturing overhead $ Total manufacturing overhead $ Rate 2.25
company's total overhead cost at various levels of activity is presented below: Month March April May June Machine Hours 5,000 4,000 6,000 8,000 Total Overhead Cost $ 38,750 $ 31,000 $ 46,500 $ 55,000 Assume that the overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 4,000 machine-hour level of activity is as follows: Utilities (considered variable) $8,000 Supervisory salaries (considered fixed) $5,000 Maintenance (considered mixed) $18,000 Total overhead cost $31,000 Suppose the company uses the high-low method to estimate a cost formula for mixed costs. What is the total maintenance cost the company expects to incur at an activity level of 6,900 machine hours? ○ $29,600 $29,200 O $30,400 $29,900
Assume (1) actual machine-hours worked during the period of 54,000 hours, (2) manufacturing overhead applied to production during the period of $432,000, (3) estimated fixed manufacturing overhead of $329,400, and (4) estimated variable manufacturing overhead cost per machine-hour of $2.00. The estimated amount of the allocation base (machine-hours) is closest to: 56,900. 54,900. 54,200. 52,900.
A company estimates the following manufacturing costs at the beginning of the period: direct labor, $488,000; direct materials, $204,000; and factory overhead, $137,000. Required: 1. Compute its predetermined overhead rate as a percent of direct labor. 2. Compute its predetermined overhead rate as a percent of direct materials. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute its predetermined overhead rate as a percent of direct labor. Numerator: Overhead Rate Denominator: Overhead Rate = Overhead Rate
Subject : Accounting
please solve for overhead rate per direct labor cost, overhead rate per direct labor hour, and overhead rate per machine hour
Company XYZ uses labor hours to allocate its manufacturing overhead. The direct labor cost rate is $8 per direct labor hour. The company estimates that the number of labor hours to be used next month is 600,000 labor hours. The estimated variable overhead is estimated to be quarter of the direct labor cost rate. The estimated fixed overhead costs are $50,000. Calculate the predetermined overhead rate. а. 4.08 b. 8.08 С. 5.08 d. 2.08 е. None of the given answers
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.
Assume (1) estimated fixed manufacturing overhead for the coming perlod of $217,000, (2) estimated varlable manufacturing overhead of $2.00 per direct labor hour, (3) actual manufacturing overhead for the perlod 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: Multiple Cholce $333,204. $325.926. $321,300. $327,000.