Ans Lakeside Inc. estimated manufacturing overhead costs for 2014 at$378,000, based on 180,000 estimated direct labor hours. Actual directlabor hours for 2014 totaled 195,000. The manufacturing overheadaccount contains debit entries totaling $391,500. The manufacturingoverhead for 2014 was(Round your immediate calculations to one decimal place)a) $18,000 overallocatedb) $31,500 underallocatedc) $18,000 underallocatedd) $31,500 overallocated

Step 1: Calculate the Predetermined Overhead Rate:• Predetermined Overhead Rate = Estimated Overhead…

Answered: Lakeside Inc. estimated manufacturing…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 4E: The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the...

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Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 2.70 is direct materials and 5.30 is overhead. What is the prime cost per unit? Conversion cost per unit?
A company estimates its manufacturing overhead will be $840,000 for the next year. What is the predetermined overhead rate given each of the following Independent allocation bases? Budgeted direct labor hours: 90,615 Budgeted direct labor expense: $750000 Estimated machine hours: 150,000
Lakeside Inc. estimated manufacturing overhead costs for 2014 at $378,000, based on 180,000 estimated direct labor hours. Actual direct labor hours for 2014 totaled 195,000. The manufacturing overhead account contains debit entries totaling $391,500. The manufacturing overhead for 2014 was (Round your immediate calculations to one decimal place) a) $18,000 overallocated b) $31,500 underallocated c) $18,000 underallocated d) $31,500 overallocated
Lakeside Company estimated manufacturing overhead costs for 2014 at $390,000, based on 160,000 estimated direct labor hours. Actual direct labor hours for 2014 totaled 195,000. The manufacturing overhead account contains debit entries totaling $391,500. The manufacturing overhead for 2014 was: (Round your intermediate calculations to one decimal place)
Please give me correct solution
please solve for overhead rate per direct labor cost, overhead rate per direct labor hour, and overhead rate per machine hour
Marquis Company estimates that annual manufacturing overhead costs will be $920,000. Estimated annual operating activity bases are direct labor cost $487,000, direct labor hours 44,000, and machine hours 101,000. Compute the predetermined overhead rate for each activity base. (Round answers to 2 decimal places, e.g. 10.50.) Dverhead rate per direct labor cost Overhead rate per direct labor hour Overhead rate per machine hour
The following information is obtained from the company’s records for 2014: Total manufacturing costs, P8,000,000 Cost of finished goods manufactured, P7,920,000 Manufacturing overhead applied, P3,600,000 Manufacturing overhead was applied to production at a rate of 200% of direct laborcosts The peso amount of work in process inventory on January 1, 2014 was P320,000.What is the total direct labor cost in 2014?a. P1,800,000b. P1,500,000c. P1,700,000d. P3,600,000
Calculate the predetermined overhead rate for 2017, assuming Lott Company estimates total manufacturing overhead costs of $907,200, direct labor costs of $756,000, and direct labor hours of 21,600 for the year. (Round answer to the nearest whole percent, e.g. 25%.) Predetermined overhead rate
Marquis Company estimates that annual manufacturing overhead costs will be $894,600. Estimated annual operating activity bases are direct labor cost $497,000, direct labor hours 49,700, and machine hours 99,400.Compute the predetermined overhead rate for each activity base. (Round answers to 2 decimal places, e.g. 10.50% or 10.50.) Overhead rate per direct labor cost enter percentages rounded to 2 decimal places % Overhead rate per direct labor hour $enter a dollar amount rounded to 2 decimal places Overhead rate per machine hour
Cullumber Company estimates that annual manufacturing overhead costs will be $ 1,166,000. Estimated annual operating activity bases are direct labor cost $530,000, direct labor hours 53,000, and machine hours 106,000. Compute the predetermined overhead rate for each activity base. (Round answers to 2 decimal places, e.g. 10.50% or 10.50.) Overhead rate per direct labor cost Overhead rate per direct labor hour Overhead rate per machine hour $
Midwest Corporation has provided the following data concerning manufacturing overhead for 2020: Estimated manufacturing overhead for the year $ 30,000 Estimated direct labor hours for the year 2,000 Two jobs were worked on during the year: Job A-101 and Job A-102. The number of direct labor-hours spent on Job A-101 and Job A-102 were 1,200 and 1,000, respectively. The actual manufacturing overhead was $37,000.What was the amount of manufacturing overhead applied to Job A-101? $24,000. $44,000. $18,000. $16,000.

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