Jones Corporation applies manufacturing overhead on the basis of direct labor- hours. Jones based its predetermined overhead rate for the upcoming year on total estimated overhead of $243,300 and 8,300 estimated direct labor-hours. At the end of the year, Jones actual manufacturing overhead for the year amounted to $244,400 and actual direct labor-hours were 5,800. Q: What was Jones overhead for the year? (Round your intermediate calculations to 2 decimal places.) A. 74402 underapplied B.73302 underapplied C.74402 overapplied d. 73302 overapplied

Jones Corporation applies manufacturing overhead on the basis of direct labor- hours. Jones based its predetermined overhead rate for the upcoming year on total estimated overhead of $243,300 and 8,300 estimated direct labor-hours. At the end of the year, Jones actual manufacturing overhead for the year amounted to $244,400 and actual direct labor-hours were 5,800. Q: What was Jones overhead for the year? (Round your intermediate calculations to 2 decimal places.) A. 74402 underapplied B.73302 underapplied C.74402 overapplied d. 73302 overapplied

Name: Jones Corporation applies manufacturing overhead on the basis of dire
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Jones Corporation applies manufacturing overhead on the basis of direct labor-hours.Jones based its predetermined overhead rate for the upcoming year on totalestimated overhead of $243,300 and 8,300 estimated direct labor-hours.At the end of the yea

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

silver company uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 17,500 hours. At the end of the year, actual direct labor-hours for the year were 16,000 hours, the actual manufacturing overhead for the year was $233,000, and manufacturing overhead for the year was underapplied by $15,400. The estimated manufacturing overhead at the beginning of the year used to calculate the predetermined overhead rate must have been:
Bernson Corporation is using a predetermined overhead rate that was based on estimated total fixed manufacturing overhead of $492,000 and 30,000 machine-hours for the period. The company incurred actual total fixed manufacturing overhead of $517,000 and 28,300 total machine-hours during the period. The amount of manufacturing overhead that would have been applied to all jobs during the period is closest to: (Round your intermediate calculations to 2 decimal places.)
Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $239,700 and 4,720 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $246,000 and actual direct labor-hours were 4,590. The predetermined overhead rate for the year was closest to:
A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $329,800 and direct labor hours would be 49,100. Actual manufacturing overhead costs incurred were $316,500, and actual direct labor hours were 50,200. The journal entry to apply the factory overhead costs for the year would include a
Pharoah Company applies manufacturing overhead based on direct labor hours. Information concerning manufacturing overhead and labor for the year follows: Actual manufacturing overhead Estimated manufacturing overhead Direct labor hours incurred Direct labor hours estimated (a) Your Answer Correct Answer Your answer is correct. $89,600 $84,000 Predetermined overhead rate $ Solution (b) Compute the predetermined overhead rate. (Round answer to 2 decimal places, e.g. 52.72.) 4.800 5.000 16.80 per direct labor hour Calculate the amount of applied manufacturing overhead. Applied manufacturing overhead $
Hamilton Company applies manufacturing overhead costs to products based on direct labor hours. The company estimates manufacturing overhead cost for the year to be $262,000 and direct labor hours to be 20,000. Actual overhead for the year was $290,000. Required: 1. Compute the predetermined overhead rate. 2. If the company actually used 23,200 direct labor hours, how much manufacturing overhead is applied to their job? Complete this question by entering your answers in the tabs below. Required 1 Required 2 If the company actually used 23,200 direct labor hours, how much manufacturing overhead is applied to their job? Applied Manufacturing Overhead 89 SEP 17 Next > A O
I need all parts of this question answered Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 66,000 labor-hours. The estimated variable manufacturing overhead was $8.41 per labor-hour and the estimated total fixed manufacturing overhead was $1,533,180. The actual labor-hours for the year turned out to be 68,400 labor-hours. Required: Compute the company's predetermined overhead rate for the recently completed year.
A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $360,000 and direct labor hours would be 30,000. Actual manufacturing overhead costs incurred were $377,200, and actual direct labor hours were 36,000. The journal entry to apply the factory overhead costs for the year would include a
A Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the total estimated manufacturing overhead was $221,100. At the end of the year, actual direct labor-hours for the year were 14,400 hours, manufacturing overhead for the year was overapplied by $21,500, and the actual manufacturing overhead was $216,100. The predetermined overhead rate for the year must have been * $17.73 $16.50 $15.35 $15.01
Online A company uses direct labor-hours for its predetermined overhead rate. The company estimated direct labor-hours would be 25,000 hours and the total estimated manufacturing overhead would be $500,000. At the end of the year, actual direct labor-hours for the year were 23,000 hours and the actual manufacturing overhead for the year was $490,000. Overhead at the end of the year was: (Do not round your intermediate calculations.) Multiple Choice
A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $489,720 and direct labor hours would be 48,972. Actual factory overhead costs incurred were $511,421, and actual direct labor hours were 53,273. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year? a.$21,309 overapplied b.$43,010 underapplied c.$532,730 overapplied d.$21,309 underapplied
Lakeside, Inc. estimated manufacturing overhead costs for the year at $374,000, based on 182,000 estimated direct labor hours. Actual direct labor hours for the year totaled 193,000. The manufacturing overhead account contains debit entries totaling $392,000. The Manufacturing Overhead for the year was ________. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)