Huxtabie charges manutacturing overhead to products by using a predelermned appicaton rate, comped on the basis ofmachine hours. The tolowing data pertain to the curent yearBudgeted manufacturing overhead $470,000Actual manutacturing overhead $ 428 900Budgeted machine hours 23.500Actual machine hours 18530Overhead applied to production totaied$33800$536600$370.600some other ahount

Name: Huxtabie charges manutacturing overhead to products by using a predel
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Description: Huxtabie charges manutacturing overhead to products by using a predelermned appicaton rate, comped on the basis ofmachine hours. The tolowing data pertain to the curent yearBudgeted manufacturing overhead $470,000Actual manutacturing overhead $ 428

A predetermined overhead rate is an allocation rate that is used to apply the estimated cost of…

Business

Accounting

Hutabie charges manutactung overhead to product by using a predelemned appicaton a, compued on the bas of machine hours The tolowing data pertain to the curent year Budgeted manutactung overhead S4o,000 Aal manutactunng overhead42800 Budgeted machine hours 23.500 Actual machine hours 18530 Overhead applied to production totaed 3300 $370.600 O S00 eme other ahount

Hutabie charges manutactung overhead to product by using a predelemned appicaton a, compued on the bas of machine hours The tolowing data pertain to the curent year Budgeted manutactung overhead S4o,000 Aal manutactunng overhead42800 Budgeted machine hours 23.500 Actual machine hours 18530 Overhead applied to production totaed 3300 $370.600 O S00 eme other ahount

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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TB MC Qu. 7-84 (Algo) Reyes Corporation applies overhead using a normal... Reyes Corporation applies overhead using a normal costing approach based upon machine-hours. Budgeted factory overhead was $271,872, budgeted machine-hours were 18,880. Actual factory overhead was $289,820, actual machine-hours were 19,430. How much is the over- or underapplied overhead? Multiple Choice : A) $5,841 overapplied. B) $0. C) $10,028 underapplied. D) $15,869 underapplied.
Glencoe, Inc., costs products using a normal costing system. The following data is available for last year: Budgeted: 4.1 4.2 4.3 Overhead Machine hours Direct labour hours 4.4 Actual: Overhead Machine hours Direct labour hours Prime cost Number of units R476 000 140 000 17 000 Overhead is applied on the basis of direct labour hours. Required: R475 000 137 000 16 550 R1 750 000 250 000 Calculate the predetermined overhead rate. Calculate the applied overhead for last year. Was the overhead over- or under-applied, and by how much? Calculate the total cost per unit produced (to 2 decimal places).
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Using a traditional cost system and applies overhead to production based on machine hours. Estimated overhead cost $150,000 Actual overhead cost $140,000 Estimated machine hours 20,000 hrs Actual machine hours 25,000 Determine the overhead variance for the period? Is it $10,000 overlapped?
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