Question: The following costs were incurred in March: Direct materials $38,000 Direct labor $29,000 Manufacturing overhead $21,000 Selling expenses $17,000 Administrative expenses $32,000 Conversion costs during the month totalled
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- 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: 150,000The following costs were incurred in May: Direct materials $44,600 Direct labor $28,900 $18,400 Manufacturing overhead Selling expenses Administrative expense $23,200 $35,000 Prime costs during the month totaled: Multiple Choice $150,100 O $91,900 $47,300 $73,500The following production overhead costs relate to a production department XY, Budget $372,000Actual $425,000Absorbed $391,000 Calculate the over or under absorbed of the overhead? show solution
- The following costs were incurred in May: Direct materials $42,700 Direct labor $29,400 Manufacturing overhead Selling expenses Administrative expenses $27,300 $23,600 $33,700 Conversion costs during the month totaled:The following costs were incurred during the month of June: Direct Materials $34,000 Direct Labor $72,000 Variable Manufacturing Overhead $3,000 Fixed Manufacturing Overhead $16,000 Selling Expenses $13,000 Administrative Expenses $16,000 What were the total inventoriable costs for June?Machine-hours 61,000Manufacturing overhead cost $ 1,324,000Inventories at year-end:Raw materials $ 16,000Work in process (includes overhead applied of $115,900) $ 188,000Finished goods (includes overhead applied of $208,620) $ 338,400Cost of goods sold (includes overhead applied of $834,480) $ 1,353,600The predetermined overhead rate was based on a cost formula that estimates $1,368,000 of total manufacturing overhead for an estimated activity level of 72,000 machine-hours.Assume that the company allocates any underapplied or overapplied overhead proportionally to Work in Process, Finished Goods, and Cost of Goods Sold. Prepare the appropriate journal entry.What is the journal entry amount?I have the entries ( COGS & Finished Goods).
- The following data pertain to the current year:Budgeted manufacturing overhead: OMR 450,000Actual manufacturing overhead: OMR 390,000Budgeted machine hours: 30,000 hrs.Actual machine hours: 33,000 hrs.Overhead applied to production totaled: Select one: a.449,000 b.495,000 c.435,000 d.355,000The following data pertain to the current year:Budgeted manufacturing overhead: OMR 390,000Actual manufacturing overhead: OMR 440,000Budgeted machine hours: 30,000 hrs.Actual machine hours: 33,000 hrs.Overhead applied to production totaled: Select one: a. 484,000 b. 455,000 c. 429,000 d. 355,000Nova Company’s total overhead cost at various levels of activity are presented below: Month Machine-Hours TotalOverhead Cost April 52,000 $ 203,860 May 42,000 $ 181,060 June 62,000 $ 226,660 July 72,000 $ 249,460 Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 42,000 machine-hour level of activity is: Utilities (variable) $ 50,400 Supervisory salaries (fixed) 67,000 Maintenance (mixed) 63,660 Total overhead cost $ 181,060
- Spree Party Lights overhead expenses are: Indirect material, pounds per unit 0.15 Indirect material, cost per pound $2 Indirect labor hours 1 Indirect labor rate per hour $16.00 Variable maintenance per unit $0.75 Variable utilities per unit $0.10 Supervisor salaries $9,000 Maintenance salaries $9,000 Insurance $3,000 Depreciation $1,600 Prepare a manufacturing overhead budget if the number of units to produce for January, February, and March are 2,500, 2,900, and 2,700, respectively.Spree Party Lights overhead expenses are: Indirect material, pounds per unit 0.25 Indirect material, cost per pound $2 Indirect labor hours 1 Indirect labor rate per hour $16.00 Variable maintenance per unit $0.70 Variable utilities per unit $0.20 Supervisor salaries $10,000 Maintenance salaries $9,000 Insurance $4,000 Depreciation $1,500 Prepare a manufacturing overhead budget if the number of units to produce for January, February, and March are 2,400, 2,900, and 2,700, respectively. Spree Party Lights Manufacturing Overhead Budget For the Quarter Ending January - March January February March Units to Produce fill in the blank 1 fill in the blank 2 fill in the blank 3 Variable Costs Indirect Material $fill in the blank 5 $fill in the blank 6 $fill in the blank 7 Indirect Labor fill in the blank 9 fill in the blank 10 fill in the blank 11 Maintenance fill in the blank 13 fill in the blank 14 fill in the blank 15 Utilities…The cost of materials put into production in a department during the month totaled P188,400. By the end of the month, these materials had been used for 32,000 units, of which 29,000 were completed and transferred out and 3,000 were in process. 80% of materials were added to the units in process. What is the equivalent unit of production for materials? a. 31,400 b. 32,000 c. 29,600 d. 31,000 What is the cost per equivalent unit for materials? a. P5.89 b. P6.00 c. P6.36 d. P6.50
