Sohar Soap Factory applies manufacturing overhead based on machine hours. Information concerning manufacturing overhead and labor for the year follows: Actual manufacturing overhead costs R.O.360,000 6,000 1,500,000 10,000 300,000 Estimated labor hours Estimated manufacturing overhead Actual machine hours used Estimated machine hours Actual labor hours used 7,500 The amount of manufacturing overhead to be applied is: Select one: O a. 200,000 O b. 10,000 O c None of the answers are correct O d. 50,000 O e. 120,000

Sohar Soap Factory applies manufacturing overhead based on machine hours. Information concerning manufacturing overhead and labor for the year follows: Actual manufacturing overhead costs R.O.360,000 6,000 1,500,000 10,000 300,000 Estimated labor hours Estimated manufacturing overhead Actual machine hours used Estimated machine hours Actual labor hours used 7,500 The amount of manufacturing overhead to be applied is: Select one: O a. 200,000 O b. 10,000 O c None of the answers are correct O d. 50,000 O e. 120,000

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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ll. Subject : - Accounting
3. Application of Overhead Costs 3A) CMA Company uses a predetermined overhead rate based on direct labor hours to apply manufacturing overhead to jobs. Estimated and actual data for direct labor and manufacturing overhead last year are as follows: Manufacturing overhead Direct labor hours Estimated P 720,000 600,000 What was the manufacturing overhead for CMA Company for last year? a. Over-applied by P 20,000 c. Over-applied by P 40,000 d. Under-applied by P 40,000 b. Under-applied by P 20,000 Activity 1 Activity 2 Activity 3 3B) CIA Company uses activity-based costing to compute product costs for external reports. The company has three activity centers and applies overhead using predetermined overhead rates for each activity center. Estimated costs and activities for the current year are presented below: Estimated Overhead Cost Expected Activity P 18,000 P 57,600 P 97,200 Actual costs and activities for the current year were as follows: Activity 1 Activity 2 Activity 3 Actual P…
Determine the manufacturing overhead of Cleene Company using the following information: • Work in process, ending_P8,000 • Work in process, beginning_P11,000 • Cost of goods manufactured_P70,000 • Direct labor_P25,000 • Direct materials_P20,000
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Manufacturing cost data for Wildhorse Company, which uses a job order cost system, are presented below. Indicate the missing amount for each letter. Assume that in all cases manufacturing overhead is applied on the basis of direct labor cost and the rate is the same. (Round overhead rate to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 5,275.) Work in process 1/1/22 Direct materials used Direct labor Manufacturing overhead applied Total manufacturing costs Total cost of work in process Work in process 12/31/22 Cost of goods manufactured $ Case A 61,000 50,020 177,693 245,830 234,606 (a) (b) (c) Case B $18,910 $101,260 170,800 14,396 (d) (e) (f) (g)
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Company A has two manufacturing departments - Department 1 and Department 2. It considers all of its manufacturing overhead costs to be fixed costs. Estimations for the begining of the year is presented in the Table 1. During the year Job 1 was started and completed. Information on Job 1 is provided in the Table 2. Table 1 Items Manufacturing overhead costs (€) Direct labour-hours Machine-hours Department 1 Department 2 Total 1600 1200 2800 100 60 160 20 80 100 Table 2 Items Direct labour-hours Machine-hours Direct materials (€) Direct labour costs (€) Department 1 Department 2 Total 55 15 70 15 30 45 320 740 1060 450 120 570 Company A uses departmental (multiple) predetermined overhead rates with direct labor - hours as the allocation base in Department 1 and machine - hours as the allocation base in Department 2. Compute the predetermined overhead rate of the Department 2.
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