None of the given answer is correct cturing overhead was estimated to be OMR 400,000 for the year along with 20,000 direc .Actual manufacturing overhead was OMR 415,000, and actual labor hours were 21,000 ?Which of the following would be correct None of the given answer is correct .a Overhead is overapplied by OMR 5,000 .b O

None of the given answer is correct cturing overhead was estimated to be OMR 400,000 for the year along with 20,000 direc .Actual manufacturing overhead was OMR 415,000, and actual labor hours were 21,000 ?Which of the following would be correct None of the given answer is correct .a Overhead is overapplied by OMR 5,000 .b O

Name: Work in Process to be understated by OMR 12,000 at year end.c OFinish
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Description: Work in Process to be understated by OMR 12,000 at year end.c OFinished Goods to be overstated by OMR 12,000 for the year .d ONone of the given answer is correct.e OManufacturing overhead was estimated to be OMR 400,000 for the year along with 20,00

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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XYZ industries applies overhead based on direct labor cost. The following information was available for the last year: Actual manufacturing overhead OMR50,000; Underapplied manufacturing overhead OMR10,400; Actuai Prime cost OMR52,000; Actual Direct material cost OMR19,000; Estimated direct labor Cost OMR29,000. What was the estimated manufacturing overhead for the year? Select one: O a. None of the answers given O b. OMR39,600 OC. OMR34,800 O d. OMR39,600 O e. OMR37,200
Company XYZ uses direct labor hours to allocate its manufacturing overhead. The company estimates that total direct labor hours to be operated next year are 250,000 hours. The estimated variable overhead is OMR10 per hour and the estimated fixed overhead costs are OMR750,000. Calculate the predetermined overhead rate. Select one: a. OMR3.00 b. OMRO.08 C. None of the answers given d. OMR14.00 OMB13.00
Saved Manufacturing overhead was estimated to be $213,150 for the year along with 20,300 direct labor hours. Actual manufacturing overhead was $194,500, and actual direct labor hours were 19,500. Which of the following would be correct? Multiple Cholce Overhead is underapplied by $11,600, Overhead Is underapplied by $10,250. Overhead is overapplied by $10,250. Overhead is overapplied by $11,600.
Assume (1) actual machine-hours worked during the period of 54,000 hours, (2) manufacturing overhead applied to production during the period of $432,000, (3) estimated fixed manufacturing overhead of $329,400, and (4) estimated variable manufacturing overhead cost per machine-hour of $2.00. The estimated amount of the allocation base (machine-hours) is closest to: 56,900. 54,900. 54,200. 52,900.
The cost of employee training program Manufacturing overhead was estimated to be OMR 400,000 for the year along with estimated 20,000 direct labor hours. Actual manufacturing overhead was OMR 415,000, and actual labor hours were 21,000. The amount credited to the Manufacturing Overhead account would be: OMR 420,000. O b. None of the given answer is correct O c. OMR435,750. O d. OMR 400,000. O e OMR415,000. ows bu lac Jail ENG G 4) 021 hp
The CW16427 company uses direct labor-hours as its activity measure for overhead cost. Shown below are direct labor-hours and total overhead costs for the first half of the year: Overhead Direct labor-Hours Cost Jan 150,000 140,000 160,000 120,000 170,000 200,000 $339,000 $328,000 $350,000 $296,000 $362,500 $400,000 Feb Mar Apr May Jun Assume that the relevant range includes all of the activity levels for the CW16427 company given in this problem. If CW16427 expects to incur 192,000 direct labor hours next month, what will the estimated total overhead cost be using the high-low method? (Round your intermediate calculations to 2 decimal places.) Multiple Choice $390,800 MAR otv 57 17,650 14
A company estimated 112,500 direct labor hours and $835,635 in overhead. The actual overhead was $881,112, and there were 106,132 direct labor hours. How much is overhead under- or over- applied? Round to the nearest penny, two decimal places. Enter an overapplied overhead as a negative amount. For example, if it is overapplied by 500.00, the input would be -500.00 do not use parenthesis.
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A company expected its annual overhead costs to be $813200 and machine hours to equal 107000 hours. Actual overhead was $749000, and actual machine hours totalled 98000 hours. How much overhead was over or underapplied? $4200 underapplied O $68400 underapplied O $69000 over-applied O $64400 underapplied
Company XYZ uses labor hours to allocate its manufacturing overhead. The direct labor cost rate is $8 per direct labor hour. The company estimates that the number of labor hours to be used next month is 600,000 labor hours. The estimated variable overhead is estimated to be quarter of the direct labor cost rate. The estimated fixed overhead costs are $50,000. Calculate the predetermined overhead rate. а. 4.08 b. 8.08 С. 5.08 d. 2.08 е. None of the given answers
The production department of Al Noor company provides you with specific cost details. The material used OMR 34,750, Direct labor hours used: 1200 Hours, direct wages OMR 25,000. Overhead Cost is 69,500. Using these data, compute overhead rate as a percentage of direct material cost. a. 50% b. 150% c. None of these d. 20096