[The following information applies to the questions displayed below.]The following data pertain to the Oneida Restaurant Supply Company for the year just ended.Budgeted sales revenueActual manufacturing overheadBudgeted machine hours (based on practical capacity)Budgeted direct-labor hours (based on practical capacity)Budgeted direct-labor rateBudgeted manufacturing overheadActual machine hours$200,000340,00010,00020,000$$364,00011,00018,000$13Actual direct-labor hoursActual direct-labor rate15Required:1. Compute the firm's predetermined overhead rate for the year using each of the following common cost drivers: (a) machinehours, (b) direct-labor hours, and (c) direct-labor dollars. (Round your answers to 2 decimal place.)Cost DriversOverhead Rate(a) Machine hoursper machine hour(b) Direct-labor hoursper direct-labor hour(c) Direct-labor dollarsper direct-labor dollar

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Description: [The following information applies to the questions displayed below.]The following data pertain to the Oneida Restaurant Supply Company for the year just ended.Budgeted sales revenueActual manufacturing overheadBudgeted machine hours (based on pract

The rate used by the company to apply the manufacturing overheads to work in process inventories is…

Business

Accounting

Required: 1. Compute the firm's predetermined overhead rate for the year using each of the following common cost drivers: (a) machine hours, (b) direct-labor hours, and (c) direct-labor dollars. (Round your answers to 2 decimal place.)

Required: 1. Compute the firm's predetermined overhead rate for the year using each of the following common cost drivers: (a) machine hours, (b) direct-labor hours, and (c) direct-labor dollars. (Round your answers to 2 decimal place.)

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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Use the following information to answer the question. Estimated manufacturing overhead $180,000 Actual manufacturing overhead $240,000 Estimated direct labour hours 15,000 Actual direct labour hours worked 16,000 The predetermined overhead rate for applying manufacturing overhead would be:
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Overhead is calculated by Amanzi Company based on Direct Labor hours. Amanzi forecasts Overhead to be R700 000, Machine hours to be R200 000, and Direct labour hours to be R35000 at the start of the year. Amanzi has 5000 direct labour hours and 10,000 machine hours each year. What is the rate of predetermined overhead? a. R15.00 per hour per machine b. R14.00 per hour of direct labour c. R20.00 per hour of direct work d. R18.00 per hour per machine g. None of them are valid options.
Subject : Accounting
The allocation base of the company is machine-hours and the estimated amount of theallocation base for the upcoming year is 43,000 machine-hours. In addition, the actual activityfor the year is 42,600 machine-hours. All of the manufacturing overhead is fixed and is P848,820per year. For simplicity, it is assumed that this is the estimated manufacturing overhead for theyear as well as the actual amount of manufacturing overhead for the year. Job F3, which required310 machine-hours, is one of the jobs worked on during the year. 1. Determine the predetermined overhead rate if the predetermined overhead rate is based on theestimated amount of the allocation base. _______________
please solve for overhead rate per direct labor cost, overhead rate per direct labor hour, and overhead rate per machine hour
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1.
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