Nielsen Corporation has two manufacturing departments--Machining and Assembly. The company used the following data at the beginning of the year tocalculate predetermined overhead rates:Estimated total machine-hours (MHS)Estimated total fixed manufacturing overhead costEstimated variable manufacturing overhead cost per machine-hourMachining1,000$ 4,700$ 1.20Assembly4,000$ 10,800$ 2.20Total5,000$ 15,500During the most recent month, the company started and completed two jobs--Job F and Job M. There were no beginning inventories. Data concerningthose two jobs follow:Direct materialsDirect labor costMachining machine-hoursAssembly machine-hoursJob F$13,000Job M$ 7,400$ 20,400$ 8,8007001,6003002,400Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. The total manufacturing costassigned to Job F is closest to: (Round your intermediate calculations to 2 decimal places.)

From the given data, , Lets calculate using the formula: Predetermined manufacturing overhead rate =…

Answered: Nielsen Corporation has two…

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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Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 20,000 direct labor-hours would be required for the period’s estimated level of production. The company also estimated $94,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $123,900 and its actual total direct labor was 21,000 hours. Required: Compute the company's plantwide predetermined overhead rate for the year. Note: Round your answer to 2 decimal places.
The chief cost accountant for Voltaire Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning May 1 would be $2,340,000 and total direct labor costs would be $1,800,000. During May, the actual direct labor cost totaled $145,000 and factory overhead cost incurred totaled $192,100. Question Content Area a. What is the predetermined factory overhead rate based on direct labor cost? Enter your answer as a whole percent not in decimals. fill in the blank 1772e2fb3039fb1_1 % Question Content Area b. Journalize the entry to apply factory overhead to production for May. If an amount box does not require an entry, leave it blank. blank - Select - - Select - - Select - - Select - Question Content Area c. What is the May 31 balance of the account Factory Overhead—Blending Department? Amount: $fill in the blank 1ea1070e903a021_1 Debit or Credit? d. Does the balance in part (c) represent overapplied or underapplied factory…
Wilmington Company has two manufacturing departments-Assembly and Fabrication. It considers all of its manufacturing overhead costs to be fixed costs. The first set of data that is shown below is based on estimates from the beginning of the year. The second set of data relates to one particular job completed during the year-Job Bravo. Estimated Data Manufacturing overhead costs Direct labor-hours Machine-hours Job Bravo Direct labor-hours Machine-hours Assembly $ 1,170,000 65,000 26,000 Assembly Fabrication 14 6 6 9 Fabrication $ 1,430,000 39,000 130,000 Total 20 15 1. Plantwide manufacturing overhead applied to Job Bravo 2. Manufacturing overhead applied from Assembly to Job Bravo 2. Manufacturing overhead applied from Fabrication to Job Bravo 2. Total departmental manufacturing overhead applied to Job Bravo Required: 1. If Wilmington used a plantwide predetermined overhead rate based on direct labor-hours, how much manufacturing overhead would be applied to Job Bravo? 2. If…
The Ordon Company manufactures products in two departments: Mixing and Packaging. The company allocates manufacturing overhead using a single plantwide rate with direct labor hours as the allocation base. Estimated overhead costs for the year are $888,000, and estimated direct labor hours are 370,000. In October, the company incurred 45,000 direct labor hours. Read the requirements LOADING... . Requirement 1. Compute the predetermined overhead allocation rate. Round to two decimal places. Begin by selecting the formula to calculate the predetermined overhead (OH) allocation rate. Then enter the amounts to compute the allocation rate. Predetermined OH ÷ = allocation rate ÷ = Requirement 2. Determine the amount of overhead allocated in October. Begin by selecting the formula to allocate overhead costs. Allocated mfg. × = overhead…
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Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 33,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $525,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $688,730 and its actual total direct labor was 33,500 hours. Required: Compute the company's plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.) Predetermined overhead rate per DLH
Wilmington Company has two manufacturing departments-Assembly and Fabrication. It considers all of its manufacturing overhead costs to be fixed costs. The first set of data that is shown below is based on estimates from the beginning of the year. The second set of data relates to one particular job completed during the year-Job Bravo. Estimated Data Assembly Fabrication Total Manufacturing overhead costs $3,200,000 $ 3,600,000 $ 6,800,000 Direct labor hours 100,000 60,000 160,000 Machine-hours 40,000 200,000 240,000 Job Bravo Assembly Fabrication Total Direct labor-hours 21 13 34 Machine - hours 13 16 29 Required: If Wilmington used a plantwide predetermined overhead rate based on direct labor - hours, how much manufacturing overhead would be applied to Job Bravo? If Wilmington uses departmental predetermined overhead rates with direct labor - hours as the allocation base in Assembly and machine - hours as the allocation base in Fabrication, how much manufacturing overhead would be…
Wilmington Company has two manufacturing departments-Assembly and Fabrication. It considers all of its manufacturing overhead costs to be fixed costs. The first set of data that is shown below is based on estimates from the beginning of the year. The second set of data relates to one particular job completed during the year-Job Bravo. Estimated Data Manufacturing overhead costs Direct labor-hours Machine-hours Job Bravo Direct labor-hours Machine-hours Assembly $ 600,000 50,000 20,000 Assembly Fabrication 11 3 3 6 Total 14 9 1. Plantwide manufacturing overhead applied to Job Bravo 2. Manufacturing overhead applied from Assembly to Job Bravo 2. Manufacturing overhead applied from Fabrication to Job Bravo 2. Total departmental manufacturing overhead applied to Job Bravo Fabrication $ 800,000 30,000 100,000 Total $ 1,400,000 80,000 120,000 Required: 1. If Wilmington used a plantwide predetermined overhead rate based on direct labor-hours, how much manufacturing overhead would be applied…
The HY manufacturing company computes predetermined overhead rate on the basis of machine hours in the machining department and direct labor cost in the assembly department. The following estimates were made at the beginning of the year: Direct labor hours Direct labor cost Machine hours Manufacturing overhead Machining Assembly 12,000 $18,000 3,000 $15.000 8,000 $10,000 1,000 $20.000 Based on the above information, what are the predetermined overhead rates for machining department and assembly department? Select one: a. $5 and 100% b. $5 and 200% C. $6 and 200% d. $5 and 50% Previous pade
Wilmington Company has two manufacturing departments—Assembly and Fabrication. It considers all of its manufacturing overhead costs to be fixed costs. The first set of data that is shown below is based on estimates from the beginning of the year. The second set of data relates to one particular job completed during the year—Job Bravo. Estimated Data Assembly Fabrication Total Manufacturing overhead costs $ 7,800,000 $ 8,400,000 $ 16,200,000 Direct labor-hours 150,000 90,000 240,000 Machine-hours 60,000 300,000 360,000 Job Bravo Assembly Fabrication Total Direct labor-hours 31 23 54 Machine-hours 23 26 49 Required: 1. If Wilmington used a plantwide predetermined overhead rate based on direct labor-hours, how much manufacturing overhead would be applied to Job Bravo? 2. If Wilmington uses departmental predetermined overhead rates with direct labor-hours as the allocation base in Assembly and machine-hours as the allocation base in Fabrication, how much…
Gilchrist Corporation bases its predetermined overhead rate on the estimated machine - hours for the upcoming year. At the beginning of the most recently completed year, the Corporation estimated the machine - hours for the upcoming year at 22, 900 machine - hours. The estimated variable manufacturing overhead was $6.67 per machine - hour and the estimated total fixed manufacturing overhead was $ 665,932. The predetermined overhead rate for the recently completed year was closest to:
A company 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 75,000 labor-hours. The estimated variable manufacturing overhead was $10.70 per labor-hour and the estimated total fixed manufacturing overhead was $1,237,500. The actual labor-hours for the year turned out to be 78,100 labor-hours. Compute the company's predetermined overhead rate for the recently completed year. (Round your answer to2 decimal places.) Predetermined overhead rate per labor-hour

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