Hi expert please give me answer general accounting Estimated cost and operating data for three companies for the upcoming year follow:Company A Company B Company CDirect labor-hours51,00025,50038,250Machine-hours25,50051,00012,750Direct materials cost$255,000$178,500$191,250Manufacturing overhead cost $341,700$306,000$631,125Predetermined overhead rates are computed using the following bases in the threecompanies:Company Overhead Rate Based onABсRequired:Direct labor-hoursMachine-hoursDirect materials costCompute the predetermined overhead rate to be used in each company during theupcoming year.

Step 1: Define Pre-determined OH RatePredetermined overhead rate is a method that is used to…

Answered: Estimated cost and operating data for…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 7EA: A company estimates its manufacturing overhead will be $750,000 for the next year. What is the...

See similar textbooks

Similar questions

Coops Stoops estimated its annual overhead to be $85,000 and based its predetermined overhead rate on 24,286 direct labor hours. At the end of the year, actual overhead was $90,000 and the total direct labor hours were 24,100. What is the entry to dispose of the over applied or under applied overhead?
Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 2.70 is direct materials and 5.30 is overhead. What is the prime cost per unit? Conversion cost per unit?
A company estimates its manufacturing overhead will be $750,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? Budgeted direct labor hours: 60,000 Budgeted direct labor expense: $1,500,000 Estimated machine hours: 100,000
Archangel Manufacturing calculated a predetermined overhead allocation rate at the beginning of the year based on direct labor costs. The production details for the year are given below: Total manufacturing overhead costs estimated at the beginning of the year Total direct labor costs estimated at the beginning of the year Total direct labor hours estimated at the beginning of the year Actual manufacturing overhead costs for the year Actual direct labor costs for the year Actual direct labor hours for the year 11,000 di 10,000 di Calculate the manufacturing overhead allocation rate for the year based on the above data (Round your final answer to two decimal places.) A. 28.00% B. 11.43% OC. 43.75% OD. 264.29%
Assume (1) estimated manufacturing overhead for the coming period of $314,000, (2) actual manufacturing overhead for the period of $320,000, (3) actual direct labor-hours worked of 54,000 hours, and (4) estimated direct labor-hours to be worked in the coming period of 55,000 hours. What is the amount of overhead applied to production if direct labor hours is used as an allocation base? Round intermediary calculations to two decimal places.
Mill Company estimates the company will incur $82,800 in overhead costs and 4,600 direct labor hours during the year. Actual direct labor hours were 4,850. Calculate the predetermined overhead allocation rate using direct labor hours as the allocation base, and prepare the journal entry for the allocation of overhead.
Selected operating information on three different companies for a recent year is given below Company Full-capacity machine-hours Budgeted machine-hours* Actual machine-hours Standard machine-hours allowed for actual production 38,000 37,000 37,000 27,000 25, 500 26,700 28,000 28, 000 27,000 37,200 24,900 28,000 *Denominator activity for computing the predetermined overhead rate. Requlred: For each company, state whether the volume variance would be favorable or unfavorable. (Indlcate the eflect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (L.e., zero varlance.). Company A Company B Company C
Selected cost data for Classic Print Co. are as follows: Estimated manufacturing overhead cost for the year $ 125,000 Estimated direct labor cost for the year 78,125 Actual manufacturing overhead cost for the year 116,000 Actual direct labor cost for the year 67,000 Requirements4 Marks 1.Compute the predetermined overhead allocation rate per direct labor dollar. 2.Prepare the journal entry to allocate overhead costs for the year. 3.Use a T-account to determine the amount of underallocated or overallocated manufacturing overhead. 4.Prepare the journal entry to adjust for the underallocatedor overallocated manufacturing overhead.
I want to correct answer general accounting
Calculating predetermined overhead allocation rate, allocating overhead Rosco Company estimates the company will incur $80,750 in overhead costs and 4750 direct labor hours during the year. Actual direct labor hours were 4,600. Calculate the predetermined overhead allocation rate using direct labor hours as the allocation base, and prepare the journal entry for the allocation of overhead.
The following information applies to Your Company for the current year: Direct labor-hours: Estimated for the year. 48,000 Actual hours worked. 45,000 Machine hours Estimated for the year. 39,000 Actual hours worked. 36,000 Manufacturing overhead: Estimated for the year $200,000 Actual cost incurred 192,000 Overhead cost is applied to production on a basis of direct labor hours. What is the predetermined overhead rate (round if necessary)? Group of answer choices $4.44 $4.27 $4.17 $4.00 $5.13
Nova Company’s total overhead cost at various levels of activity are presented below: Month Machine-Hours TotalOverhead Cost April 52,000 $ 203,860 May 42,000 $ 181,060 June 62,000 $ 226,660 July 72,000 $ 249,460 Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 42,000 machine-hour level of activity is: Utilities (variable) $ 50,400 Supervisory salaries (fixed) 67,000 Maintenance (mixed) 63,660 Total overhead cost $ 181,060

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS