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- Please show your work.Required information The Foundational 15 (Algo) [LO2-1, LO2-2, LO2-3, LO2-4] [The following information applies to the questions displayed below.] Sweeten Company had no jobs in progress at the beginning of the year and no beginning inventories. It started, completed, and sold only two jobs during the year-Job P and Job Q. The company uses a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours would be required for the period's estimated level of production. Sweeten also estimated $29,800 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.90 per machine-hour. Because Sweeten has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following additional information to enable calculating departmental overhead rates:…roduction reports for the third quarter show the following data: Month Machine hours Direct labour hours Direct materials cost (£) Floor surface (square meters) Actual Overhead (£) July 10,000 44,000 25,000 150 31,200 August 15,000 37,800 21,750 170 47,000 September 13,400 59,500 32,000 210 40,100 Which variable would be the most likely basis for allocating overhead? a. Machine hours b. Labour hours c. Floor surface d. Direct materials cost
- Beta manufacturing collected the following data solution general accounting questionNova Company's total overhead cost at various levels of activity are presented below: Month April Machine- Total Hours Overhead Cost 54,000 $ 193,040 44,000 $ 168,940 64,000 74,000 $ 217,140 $ 241,240 May June July Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 44,000 machine-hour level of activity is: Utilities (variable) Supervisory salaries (fixed) Maintenance (mixed) Total overhead cost $ 57,200 48,000 63,740 $ 168,940 Nova Company's management wants to break down the maintenance cost into its variable and fixed cost elements. Required: 1. Estimate how much of the $241,240 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $241,240 consisted of utilities and supervisory salaries. Think about the behavior of variable and fixed costs.) 2. Using the high-low method, estimate a cost formula for maintenance in the form Y = a +…Need help
- Subject : AccountingI need answer of this accounting questionsCost Flows Consider the following independent jobs. Overhead is applied in Department 1 at the rate of $6 per direct labor hour. Overhead is applied in Department 2 at the rate of $8 per machine hour. Direct labor wages average $10 per hour in each department. Required: Fill in the missing data for each job. If an amount box does not require an entry, leave it blank or enter zero ("0"). If required, round your answers to two decimal places. Job 213 Job 214 Job 217 Job 225 Total sales revenue $fill in the blank 1 $4,375 $5,600 $1,150 Price per unit $12 $fill in the blank 2 $14 $5 Materials used in production $365 $fill in the blank 3 $488 $207 Department 1, direct labor cost $fill in the blank 4 $700 $2,000 $230 Department 1, machine hours 15 35 50 12 Department 2, direct labor cost $50 $100 $fill in the blank 5 $0 Department 2, machine hours 25 50 fill in the blank 6 fill in the blank 7 Department 1, overhead applied $90 $fill in the blank 8 $1,200 $138…
- Compute (a) manufacturing cycle time and (b) manufacturing cycle efficiency using the following information from a manufacturing company. Process time. 15.0 minutes Move time. 6.4 minutes Inspection time. 2.0 minutes Wait time. 36.6 minutesNova Company's total overhead cost at various levels of activity are presented below: Total Overhead Cost Month April May June July Machine- Hours 54,000 44,000 64,000 74,000 $ 210,240 $ 183,140 $ 237,340 $ 264,440 Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 44,000 machine-hour level of activity is: Utilities (variable) Supervisory salaries (fixed) Maintenance (mixed) Total overhead cost $ 70,400 47,000 65,740 $183,140 Nova Company's management wants to break down the maintenance cost into its variable and fixed cost elements. Required: 1. Estimate how much of the $264,440 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $264,440 consisted of utilities and supervisory salaries. Think about the behavior of variable and fixed costs.) 2. Using the high-low method, estimate a cost formula for maintenance in the form Y = a +…Digger Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year. BudgetedActual Overhead cost$1,333, 2005 1, 307, 200Machine hours56, 30049, 000Direct labor hours101, 00097, 800Overhead is applied on the basis of direct labor hours. (a) Compute the predetermined overhead rate. (Round answer to 2 decimal places, e.g. 12.25.) Predetermined overhead rateSper direct labor hour



