Req AlReq A2Assume the St. Cloud plant uses a single plantwide overhead rate to assign all overhead (plantwide and departme) costs tojobs. Use expected total direct labor hours to compute the overhead rate. (Round your answer to 2 decimal places.))Overhead rate13.33 per direct labor hour

In cost accounting, the overhead rate is a method used to assign manufacturing overhead costs to…

Answered: Req Al Req A2 Assume the St. Cloud…

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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TB MC Qu. 4-49 Boesenhofer, Inc., manufactures and sells... Boesenhofer, Inc., manufactures and sells two products: Product N6 and Product N7. The company has an activity-based costing system with the following activity cost pools, activity measures, and expected activity Estimated Expected Activity Activity Overhead Activity Cost Pools Measures Cost Product N6 Product N7 Labor-related DLHS Total $345,060 128,534 107,598 2,100 600 4,100 Machine setups 5,000 800 3,800 setups 7,100 Order size MHs 1,400 7,900 $581,192 The activity rate for the Machine Setups activity cost pool is closest to: Multiple Cholce $73.57 per setup $91.81 per setup Prev of 36 Next > 10:54 AM 66°F Mostly cloudy 目。 21 10/20/2021 pe here to search DELL Home End Delete PgUp PgDn F12 PrtScr Insert F10 F11 F8 F9 F7 F4 F5 F6 F3 Num Lock Backspace & %23 %24
ageNOWv2 | Online teachin X + m/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress... A € When Job 117 was completed, direct materials totaled $9,518; direct labor, $14,467; and factory overhead, $14,085. A total of 2,115 units were produced at a per-unit cost of Oa. $38,070 Ob. $2,115 Oc. $18 Od. $23.985 8:2 O J i I' C 5/2
- ok k int ences w 3 E Overhead information for Cran-Mar Company for October follows: Total factory overhead cost incurred Budgeted fixed factory overhead cost Total standard overhead rate per machine hour (MH) D Standard variable factory overhead rate per MH Standard MHS allowed for the units manufactured here to search Required: 1. What is the standard fixed factory overhead rate per machine hour (MH)? 2. What is the denominator activity level that was used to establish the fixed factory overhead application rate? 3. Two-way analysis (breakdown) of the total factory overhead cost variance: calculate the following factory overhead cost variances for October and indicate whether each variance is favorable (F) or unfavorable (U). a. Total flexible-budget variance. b. Production volume variance. c. Total overhead cost variance. 4. Calculate the production volume variance and indicate whether the variance is favorable (F) or unfavorable (U). Complete this question by entering your answers…
Exercise 2-4 (Algo) Computing Total Job Costs and Unit Product Costs Using Multiple Predetermined Overhead Rates [LO2-4] Fickel Company has two manufacturing departments-Assembly and Testing & Packaging. The predetermined overhead rates in Assembly and Testing & Packaging are $26.00 per direct labor-hour and $22.00 per direct labor-hour, respectively. The company's direct labor wage rate is $28.00 per hour. The following information pertains to Job N-60: Direct materials Assembly $ 410 Testing & Packaging $ 53 $ 322 $ 70 Direct labor Required: 1. What is the total manufacturing cost assigned to Job N-60? (Do not round intermediate calculations.) 2. If Job N-60 consists of 10 units, what is the unit product cost for this job? (Do not round intermediate calculations. Round your answer to 2 decimal places.) 1. Total manufacturing cost 2. Unit product cost per unit
Exercise 2-15 (Algo) Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO 2-2, LO2-3, LO2-4] Skip to question [The following information applies to the questions displayed below.] Delph Company uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that 53,000 machine - hours would be required for the period's estimated level of production. It also estimated $980,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $5.00 per machine-hour. Because Delph has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine - hours. The company gathered the following information to enable calculating departmental overhead rates: Molding Fabrication Total Machine - hours 23,000 30,000 53,000 Fixed manufacturing…
Maglie Company manufactures two video game consoles: handheld and home. The handheld consoles are smaller and less expens than the home consoles. The company only recently began producing the home model. Since the introduction of the new product. profits have been steadily declining. Management believes that the accounting system is not accurately allocating costs to products particularly because sales of the new product have been increasing Management has asked you to investigate the cost allocation problem. You find that manufacturing overhead is currently assigned to products based on their direct labor costs. For your investigation, you have data from last year. Manufacturing overhead was $1,366,000 based on production of 340.000 handheld consoles and 89,000 home consoles. Direct labor and direct materials costs were as follows. Direct labor Materials Handheld $1,294, 500 790,000 Cost Driver Number of production runs Quality tests performed Shipping orders processed Total overhead…
Answer: 2. Multiple Choice Question 55 Vaughn Company assigns overhead based on machine hours. The Milling Department logs 2390 machine hours and Cutting Department shows 3990 machine hours for the period. If the overhead rate is $6 per machine hour, the entry to assign overhead will show a credit to Manufacturing Overhead for $38280. a. debit to Work in Process for $23940, b. debit to Manufacturing Overhead for $38280. C. credit to Work in Process-Cutting Department for $23940. d. D Answer: 3. Exercise 16-13 The Welding Department of Healthy Company has the following production and manufacturing cost data for February 2017. All materials are added at the beginning of the process. Manufacturing Costs Production Data Beginning work in process Beginning work in process 14,800 units, 1/10 complete Materials $18,300 Units transferred out 55,400 Conversion costs 15,160 $33,460 Units started 50,900 Materials 230,046 Ending work in process 10,300 units, 1/5 complete Labor 67,200 Overhead…
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Req Al Req A2 Assume the St. Cloud plant uses a single plantwide overhead rate to assign all overhead (plantwide and departme) costs to jobs. Use expected total direct labor hours to compute the overhead rate. (Round your answer to 2 decimal places.)) Overhead rate 13.33 per direct labor hour