-Garret Corporation uses a predetermined overhead rate calculated per direct labor hour. This plantwide predetermined rate was based on a cost formula that estimated 26297 of total manufacturing overhead for an estimated activity level of 3562 direct labor-hours. Calculate total costs for the Job2013 that requires 15 direct labor-hours. Hourly wage rate is $2,3. Direct materials used for the Job2013 is $37.

-Garret Corporation uses a predetermined overhead rate calculated per direct labor hour. This plantwide predetermined rate was based on a cost formula that estimated 26297 of total manufacturing overhead for an estimated activity level of 3562 direct labor-hours. Calculate total costs for the Job2013 that requires 15 direct labor-hours. Hourly wage rate is $2,3. Direct materials used for the Job2013 is $37.

Name: -Garret Corporation uses a predetermined overhead rate calculated per
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: -Garret Corporation uses a predetermined overhead rate calculated per direct laborhour. This plantwide predetermined rate was based on a cost formula that estimated26297 of total manufacturing overhead for an estimated activity level of 3562 directl

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Osborn Manufacturing uses a predetermined overhead rate of $18.40 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $224,480 of total manufacturing overhead for an estimated activity level of 12,200 direct labor-hours. The company actually incurred $219,000 of manufacturing overhead and 11,700 direct labor-hours during the period. Required: 1. Determine the amount of underapplied or overapplied manufacturing overhead for the period. 2. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Would the journal entry to dispose of the underapplied or overapplied overhead increase or decrease the company's gross margin? By how much? 1. Manufacturing overhead by 2. The gross margin would by
Session Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on the following data: Total direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per direct labor-hour Recently, Job K913 was completed with the following characteristics: Total direct labor-hours Direct materials Direct labor cost 150 $ 705 $ 4,650 70,000 $ 511,000 $ 2.10 The total job cost for Job K913 is closest to: (Round your intermediate calculations to 2 decimal places.)
The Silver Corporation uses a predetermined overhead rate to apply manufacturing overhead to jobs. The predetermined overhead rate is based on labor cost in Dept. A and on machine-hours in Dept. B. At the beginning of the yea the Corporation made the following estimates: Direct labor cost Manufacturing overhead Direct labor-hours Machine-hours Dept. A Dept. B $60,000 $40,000 $90,000 $45,000 6,000 9,000 2,000 15,000 What predetermined overhead rates would be used in Dept. A and Dept. B, respectively?
Required information [The following information applies to the questions displayed below.] Delph Company uses job-order costing with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that 55,000 machine-hours would be required for the period's estimated level of production. It also estimated $980,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.00 per machine-hour. Because Delph 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 information to enable calculating departmental overhead rates: Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Job D-70 Direct materials cost Direct labor cost Machine-hours Job C-200 Direct materials cost Direct labor cost…
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Recently, Job T687 was completed with the following characteristics: Number of units in the job Total machine-hours Direct materials Direct labor cost 10 20 30,700 $ 337,700 $4 $575 $ 1,150 The amount of overhead applied to Job T687 is closest to: (Round your intermediate calculations to 2 decimal places.)
Helland Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on the following data: Total direct labor-hours 30,000Total fixed manufacturing overhead cost $ 189,000Variable manufacturing overhead per direct labor-hour $ 2.50 The predetermined overhead rate is closest to:$2.50 per direct labor-hour$11.30 per direct labor-hour$6.30 per direct labor-hour$8.80 per direct labor-hour
Shoes Wisely, Inc. allocates overhead using machine hours as the allocation base. The following information was estimated at the beginning of the year: Estimated Manufacturing Overhead $73,000 Estimated Machine Hours 19,000 Actual overhead totaled $72,000. During the year, the company produced 8,500 units of product using 14,000 machine hours and 60,000 direct labor hours. How much manufacturing overhead was allcoated to the product during the year? Round your answer to whole dollars.
Mazoon Leather Company decided to use a multiple predetermined overhead rate to apply manufacturing overhead to jobs. The predetermined overhead rate chosen is labor hours for Primary Treatment Department and machine- hours for Secondary Treatment Department. The accounting records shows the following estimates made at the beginning of the year: Primary Secondary Treatment Treatment Manufacturing overhead cost $360,000 $240,000 Machine-hours 2,000 15,000 Direct labor-hours 6,000 9,000 Direct labor cost $ 60,000 $ 40,000 What predetermined overhead rates would be used in
Please help me solve the total manufacturing cost for Job D-70 & Job C-200
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours 30,000 $ 252,000 $ 2.10 Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Recently, Job T687 was completed with the following characteristics: Number of units in the job 10 Total machine-hours 30 $ 675 $ 1,050 Direct materials Direct labor cost The of overhead applied to Job T687 is closest to: your intermediate calculations decimal places.) Multiple Choice $315 $252 $378 $63
Mason Company has two manufacturing departments-Machining and Assembly. All of the company's manufacturing overhead costs are fixed costs. It provided the following estimates at the beginning of the year as well as the following information for Jobs A and B: Estimated Data Manufacturing overhead Direct labor-hours Machine-hours Job A Direct labor-hours Machine-hours Job B Direct labor-hours Machine-hours Machining $5,054,000 19,000 266,000 Machining Assembly 5 10 11 2 Machining 4 12 Assembly 5 3 Assembly $361,000 266,000 14,000 Total 15 13 Total 9 15 Total $5,415,000 285,000 280,000 Required: 1. If Mason Company uses a plantwide predetermined overhead rate with direct labor-hours as the allocation base, how much manufacturing overhead cost would be applied to Job A? Job B? 2. Assume Mason Company uses departmental predetermined overhead rates. The Machining Department is allocated based on machine-hours and the Assembly Department is allocated based on direct labor-hours. How much…
Hilltop Manufacturing uses a predetermined manufacturing overhead rate based on machine hours to allocate manufacturing overhead to jobs. Selected data about the company's operations follows: Actual manufacturing overhead cost $500,000 Estimated manufacturing overhead cost $550,000 Estimated direct labor cost $175,800 Estimated direct labor hours 50,500 Actual direct labor hours 60,700 Estimated machine hours 40,600 Actual machine hours 35,800 By how much was manufacturing overhead overallocated or underallocated for the year? (Round intermediary calculations to the nearest cent.)