Fast & Furious Company produces two products: toy planes and toy race cars. It uses departmental overhead rates for the two production departments: Molding and F Finishing uses direct labor hours. 50,000 planes and 250,000 race cars are produced. Fast & Furious has prepared the following data: Estimated overhead Actual overhead Expected direct labor hours: Planes Race cars Expected machine hours: Planes Race cars Actual direct labor hours: Planes Race cars Actual machine hours: Planes Race cars Molding Finishing $250,000 $100,000 Total $350,000 $240,000 $120,000 $360,000 5,000 5,000 17,000 3,000 4,500 5,500 16,500 3,200 How much overhead is applied to the planes? Oa. $225,000 Ob. $192,500 Oc. $60,000 Od. $250,000 5,000 35,000 3,000 7,000 5,500 34,500 3,500 6,800 10,000 40,000 20,000 10,000 10,000 40,000 20,000 10,000

Fast & Furious Company produces two products: toy planes and toy race cars. It uses departmental overhead rates for the two production departments: Molding and F Finishing uses direct labor hours. 50,000 planes and 250,000 race cars are produced. Fast & Furious has prepared the following data: Estimated overhead Actual overhead Expected direct labor hours: Planes Race cars Expected machine hours: Planes Race cars Actual direct labor hours: Planes Race cars Actual machine hours: Planes Race cars Molding Finishing $250,000 $100,000 Total $350,000 $240,000 $120,000 $360,000 5,000 5,000 17,000 3,000 4,500 5,500 16,500 3,200 How much overhead is applied to the planes? Oa. $225,000 Ob. $192,500 Oc. $60,000 Od. $250,000 5,000 35,000 3,000 7,000 5,500 34,500 3,500 6,800 10,000 40,000 20,000 10,000 10,000 40,000 20,000 10,000

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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