RR Inc. uses machine-hours as the basis of overhead application. The following information isfurnished by the company for the month of July 20X2.Total overheads cost for the monthEstimated overheads costEstimated machine hours$450,000$432,0008000Actual machine hours9000The overapplied/unapplied overheads for the month are:a. $36,000 Underappliedb. $36,000 Overappliedc. $18,000 Underappliedd. $18,000 Overapplied

Name: RR Inc. uses machine-hours as the basis of overhead application. The
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Description: RR Inc. uses machine-hours as the basis of overhead application. The following information isfurnished by the company for the month of July 20X2.Total overheads cost for the monthEstimated overheads costEstimated machine hours$450,000$432,0008000Act

Overhead- Overhead costs are those costs that do not relate to the operation of the business. These…

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R Inc. uses machine-hours as the basis of overhead application. The following information is rnished by the company for the month of July 20X2. Total overheads cost for the month Estimated overheads cost Estimated machine hours Actual machine hours $450,000 $432,000 8000 9000

R Inc. uses machine-hours as the basis of overhead application. The following information is rnished by the company for the month of July 20X2. Total overheads cost for the month Estimated overheads cost Estimated machine hours Actual machine hours $450,000 $432,000 8000 9000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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The following information has been collected from the cost records of P&L company for theyear ended 31st October, 2021:Direct Materials 500,000Direct Labour 400,000Direct Expenses 40,000Works Overheads 320,000Office Expenses 189,000The total number of direct labour hours were 200,000 involving 80,000 machine hours.I. Calculate the percentage on direct wagesII. Calculate the productive labour hours rateIII. Calculate the machine hour rate
Ibra Computer Co. sells computers and internet equipment. It has the following information for the year: estimated actual overhead cost 6,200,000 4,500,000 computer hours 310,000 90,000 direct labor hours 62,000 150,000 Overhead is applied on the basis of direct labor hours. Instructions Compute the predetermined overhead rate. Determine the amount of overhead under or over-applied for the year.
Shahid Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its most recent year of operations. Estimated manufacturing overhead Rs. 182,000 Estimated machine-hours 5,600 Actual manufacturing overhead Rs. 187,000 Actual machine-hours 5,100 The estimates of the manufacturing overhead and of machine-hours were made at the beginning of the year for the purpose of computing the company's predetermined overhead rate for the year. Calculate predetermined overhead rate?
During June, XYZ Company incurred OMR 90,000 of actual Manufacturing Overhead and actual labor hours were 15,000. During the same period, the Manufacturing Overhead was estimated to be OMR 95,000 for the period along with 20,000 direct labor hours. The journal entry to record the application of Manufacturing Overhead to Work in Process would include credit to Manufacturing Overhead of OMR 71,250 debit to Work in Process of OMR 67,500 b O None of the given answer is correct cO credit to Work in Process of OMR 71,250 d O debit to Manufacturing Overhead of OMR 95,000 .e O I.自一电生 - -會生

Ibra Computer Co. sells computers and internet equipment. It has the following information for the year: Overhead cost Computer hours Direct labor hours Estimated R.O.6,200,000 310,000 62,000 Actual R.O.4,500,000 90,000 150,000 Overhead is applied on the basis of direct labor hours. Instructions a. Compute the predetermined overhead rate. b. Determine the amount of overhead under or over-applied for the year.
Crosshill Company's total overhead costs at various levels of activity are presented below: Month April May June July Machine-Hours 70,000 60,000 80,000 90,000 Assume that the overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 60,000-machine-hour level of activity in May is as follows: Utilities (variable) Supervisory salaries (fixed) Maintenance (mixed) Total overhead cost Total Overhead Cost $200,200 $177,300 $223,100 $246,000 $ 48,000 21,000 108,300 $177,300 The company wants to break down the maintenance cost into its variable and fixed cost elements. Maintenance cost in July Required: 1. Estimate how much of the $246,000 of overhead cost in July was maintenance cost. (Hint: To do this, first betermine how much of the $246,000 consisted of utilities and supervisory salaries. Think about the behaviour of variable and fixed costs within the relevant range.) (Round the "Variable cost per unit" to 2 decimal places.)
Your Company uses a predetermined overhead rate in applying overhead to production orders on a labor cost basis in Department A and on a machine-hours basis in Department B. At the beginning of the most recently completed year, the company made the following estimates: Dept. A Dept. B Direct labor cost $56,000 $33,000 Manufacturing overhead $67,200 $45,000 Direct labor hours 8,000 9,000 Machine hours 4,000 15,000 The Johnson job used 300 machine hours and incurred $5,000 of labor costs. What was the total overhead applied to this job?
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Island Corporation applies overhead based upon machine-hours. Budgeted factory overhead was $375,000 and budgeted machine hours were 12.500 Actual factory overhead was $387920 and actual machine hours were 13150 Required a Compute the overhead application rate b Compute the amount of overhead applied to production c. Determine the amount of over or underappled overhead
s1. The actual overhead cost incurred during the month was: s2. What is the total manufacturing cost recorded on Job 1536 for April?
company's total overhead cost at various levels of activity is presented below: Month March April May June Machine Hours 5,000 4,000 6,000 8,000 Total Overhead Cost $ 38,750 $ 31,000 $ 46,500 $ 55,000 Assume that the overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 4,000 machine-hour level of activity is as follows: Utilities (considered variable) $8,000 Supervisory salaries (considered fixed) $5,000 Maintenance (considered mixed) $18,000 Total overhead cost $31,000 Suppose the company uses the high-low method to estimate a cost formula for mixed costs. What is the total maintenance cost the company expects to incur at an activity level of 6,900 machine hours? ○ $29,600 $29,200 O $30,400 $29,900
Manufacturing overhead was estimated to be OMR 415,000 for the year along with estimated 20,000 direct labor hours. Actual manufacturing overhead was OMR 400,000, and actual labor hours were 21,000. The amount credited to the Manufacturing Overhead account would be: a. OMR 420,00O. O b. OMR 435,750. C. OMR 400,000. O d. None of the given answer is correct O e. OMR 415,000.