E2-5 (Algo) Calculating Predetermined Overhead Rate and Applied Overhead [LO 2-3] Wheeler's Bike Company manufactures custom racing bicycles. The company uses a job order cost system to determine the cost of each bike. Estimated costs and expenses for the coming year follow: Bike parts Factory machinery depreciation Factory supervisor salaries Factory direct labor Factory supplies Factory property tax Advertising cost Administrative salaries Administrative-related depreciation Total expected costs Required: 1. Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $12.41 per hour. 2. Determine the amount of applied overhead if 19,100 actual hours are worked in the upcoming year. Required 1. Required 2 Complete this question by entering your answers in the tabs below. $ 351,800 54,000 139,500 Predetermined Overhead Rate 232,067 37,900 25,750 23,000 55,000 18,200 $ 937,217 Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $12.41 per hour. Note: Round your answer to 2 decimal places. per DL Hour < Required 1 Required 2 >

E2-5 (Algo) Calculating Predetermined Overhead Rate and Applied Overhead [LO 2-3] Wheeler's Bike Company manufactures custom racing bicycles. The company uses a job order cost system to determine the cost of each bike. Estimated costs and expenses for the coming year follow: Bike parts Factory machinery depreciation Factory supervisor salaries Factory direct labor Factory supplies Factory property tax Advertising cost Administrative salaries Administrative-related depreciation Total expected costs Required: 1. Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $12.41 per hour. 2. Determine the amount of applied overhead if 19,100 actual hours are worked in the upcoming year. Required 1. Required 2 Complete this question by entering your answers in the tabs below. $ 351,800 54,000 139,500 Predetermined Overhead Rate 232,067 37,900 25,750 23,000 55,000 18,200 $ 937,217 Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $12.41 per hour. Note: Round your answer to 2 decimal places. per DL Hour < Required 1 Required 2 >

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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Predetermined Factory Overhead Rate Exotic Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows: Engine parts Shop direct labor Shop and repair equipment depreciation Shop supervisor salaries Shop property taxes Shop supplies $1,233,000 900,000 79,900 222,200 40,300 31,100 24,700 106,000 13,600 Advertising expense Administrative office salaries Administrative office depreciation expense Total costs and expenses The average shop direct labor rate is $20.00 per hour. Determine the predetermined shop overhead rate per direct labor hour. Round the answer to nearest whole cent. per direct labor hour $2,650,800
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s === Mulligan Manufacturing Company uses a job order cost system with overhead applied to products at a rate of 150 percent of direct labor cost. Required: Treating each case independently, selected from the manufacturing data given below, find the missing amounts. You should do them in the order listed. (Hint: For the manufacturing costs in Case 3, first solve for conversion costs and then determine how much of that is direct labor and how much is manufacturing overhead.) Note: Do not round your intermediate calculations. Round your final answers to the nearest whole dollar. Enter all amounts as positive values. Direct materials used Direct labor Manufacturing overhead applied Total current manufacturing costs Beginning work in process inventory Ending work in process inventory Cost of goods manufactured Beginning finished goods inventory Ending finished goods inventory Cost of goods sold 89 SEP 17 84 < Prev Case 1 16,000 12,000 8,100 5,900 3,800 7,900 6 of 8 tv Case 2 ‒‒‒ ‒‒‒ ▬▬▬…
Predetermined Factory Overhead Rate Exotic Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows: Engine parts Shop direct labor Shop and repair equipment depreciation Shop supervisor salaries Shop property taxes Shop supplies $953,500 696,000 31,700 88,000 16,000 12,200 Advertising expense 19,100 Administrative office salaries 82,000 Administrative office depreciation expense 10,500 Total costs and expenses $1,909,000 The average shop direct labor rate is $24.00 per hour. Determine the predetermined shop overhead rate per direct labor hour. Round the answer to nearest whole cent. $ per direct labor hour
Predetermined Factory Overhead Rate Exotic Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows: Engine parts Shop direct labor Shop and repair equipment depreciation Shop supervisor salaries Shop property taxes Shop supplies $1,287,800 940,000 50,300 139,800 25,400 19,500 25,800 110,800 14,200 Advertising expense Administrative office salaries Administrative office depreciation expense Total costs and expenses The average shop direct labor rate is $20.00 per hour. Determine the predetermined shop overhead rate per direct labor hour. Round the answer to nearest whole cent. per direct labor hour $2,613,600
E2-5 (Algo) Calculating Predetermined Overhead Rate and Applied Overhead [LO 2-3] Wheeler's Bike Company manufactures custom racing bicycles. The company uses a job order cost system to determine the cost of each bike. Estimated costs and expenses for the coming year follow: Bike parts Factory machinery depreciation Factory supervisor salaries Factory direct labor Factory supplies Factory property tax Advertising cost Administrative salaries Administrative-related depreciation Total expected costs Required: 1. Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $11.41 per hour. 2. Determine the amount of applied overhead if 18,900 actual hours are worked in the upcoming year. $ 353,800 57,000 136,000 217,931 44,400 25,250 27,000 54,000 23,700 $939,081 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is…
redetermined Factory Overhead Rate Street Runner Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows: Engine parts $637,100 Shop direct labor 465,000 Shop and repair equipment depreciation 51,100 Shop supervisor salaries 142,000 Shop property taxes 25,800 Shop supplies 19,800 Advertising expense 12,700 Administrative office salaries 54,800 Administrative office depreciation expense 7,000 Total costs and expenses $1,415,300 The average shop direct labor rate is $15 per hour. Determine the predetermined shop overhead rate per direct labor hour. Round the answer to nearest whole cent.$ per direct labor hour
Please I want to learn how to make these problems with a good explanation. One of those there is the possible answer. I need only question 16 Thank you
a)Calculate the amount of overhead that should be applied to each job and amount of Rullos overapplied or underapplied overhead at the end of the first year b)Calculate Rullos balances for work in process ,finished goods and cost of goods sold at the end of the first year
Predetermined Factory Overhead Rate Street Runner Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows: Engine parts $949,400 Shop direct labor 693,000 Shop and repair equipment depreciation 59,300 Shop supervisor salaries 164,900 Shop property taxes 29,900 Shop supplies 23,100 Advertising expense 19,000 Administrative office salaries 81,600 Administrative office depreciation expense 10,400 Total costs and expenses $2,030,600 The average shop direct labor rate is $21 per hour. Determine the predetermined shop overhead rate per direct labor hour. Round the answer to nearest whole cent. per direct labor hour
! Required information Use the following information to answer questions. (Algo) [The following information applies to the questions displayed below.] The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Beginning of period $ 45,000 9,600 68,000 End of Period Inventories Raw materials Work in process Finished goods $ 45,000 19,000 33,500 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs $ 178,000 250,000 9,000 57,500 115,500 Exercise 15-13 (Algo) Recording materials; direct and indirect LO P1, P3 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. Prepare journal entries for the above transactions for the period. X Answer is not complete. No Transaction General Journal…
Please answer all the requirement otherwise skip it Delph Company uses a job-order costing system and has two manufacturing departments—Molding and Fabrication. The company provided the following estimates at the beginning of the year: Molding Fabrication Total Machine-hours 23,000 33,000 56,000 Fixed manufacturing overhead cost $ 800,000 $ 280,000 $ 1,080,000 Variable manufacturing overhead cost per machine-hour $ 5.00 $ 2.00 During the year, the company had no beginning or ending inventories and it started, completed, and sold only two jobs—Job D-70 and Job C-200. It provided the following information related to those two jobs: Job D-70 Molding Fabrication Total Direct materials cost $ 370,000 $ 320,000 $ 690,000 Direct labor cost $ 240,000 $ 160,000 $ 400,000 Machine-hours 14,000 9,000 23,000 Job C-200 Molding Fabrication Total Direct materials cost $ 220,000 $ 220,000 $ 440,000 Direct labor cost $ 140,000 $ 260,000 $ 400,000…