Assume (1) estimated fixed manufacturing overhead for the coming period of $211,000, (2) estimated variable manufacturing overhead of $2.00 perdirect labor hour, (3) actual manufacturing overhead for the period of $320,000, (4) actual direct labor-hours worked of 54,000 hours, and (5)estimated direct labor-hours to be worked in the coming period of 55,000 hours. The amount of overhead applied to production during the period isclosest to which of the following? Round intermediate calculations to two decimal places.Multiple Choice$325,926.$327,044.$321,000.$315,360.< Prev17 of 29Next >MacBook Air......

The overhead is applied to the production on the basis of predetermined overhead rate.

Answered: ssume (1) estimated fixed manufacturing…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $328,000 and direct labor hours would be 45,900. Actual manufacturing overhead costs incurred were $322,000, and actual direct labor hours were 51,200. What is the predetermined overhead rate per direct labor hour?
Before the year began, Brookville Manufacturing estimated that manufacturing overhead for the year would be $176,400 and that 13,300 direct labor hours would be worked. Actual results for the year included the following: Actual manufacturing overhead cost Actual direct labor hours $184,400 14,500 The amount of manufacturing overhead allocated for the year based on direct labor hours would have been ? (Round intermediary calculations to the nearest cent and final answer to the nearest dollar.) A. $176,400. B. $192,270. C. $184,400. OD. $169,139.
The HY manufacturing company computes predetermined overhead rate on the basis of machine hours in the machining department and direct labor cost in the assembly department. The following estimates were made at the beginning of the year: Direct labor hours Direct labor cost Machine hours Manufacturing overhead Machining Assembly 12,000 $18,000 3,000 $15.000 8,000 $10,000 1,000 $20.000 Based on the above information, what are the predetermined overhead rates for machining department and assembly department? Select one: a. $5 and 100% b. $5 and 200% C. $6 and 200% d. $5 and 50% Previous pade
Assume (1) estimated fixed manufacturing overhead for the coming perlod of $217,000, (2) estimated varlable manufacturing overhead of $2.00 per direct labor hour, (3) actual manufacturing overhead for the perlod of $320,000, (4) actual direct labor-hours worked of 54,000 hours, and (5) estimated direct labor-hours to be worked in the coming period of 55,000 hours. The amount of overhead applied to production during the period is closest to: Multiple Cholce $333,204. $325.926. $321,300. $327,000.
The following information applies to Your Company for the current year: Direct labor-hours: Estimated for the year. 85,000 Actual hours worked. 80,000 Machine hours Estimated for the year. 92,000 Actual hours worked. 95,000 Manufacturing overhead: Estimated for the year $192,000 Actual cost incurred 200,000 Overhead cost is applied to production on a basis of direct labor hours. What is the predetermined overhead rate (round if necessary)? Group of answer choices $2.35 $2.09 $2.26 $2.40 $2.50
York Corporation is using a predetermined overhead rate of $22.30 per machine-hour that was based on estimated total fixed manufacturing I overhead of $446,000 and 20,000 machine-hours for the period. The company incurred actual total fixed manufacturing overhead of $409,000 and 18,200 total machine-hours during the period. The amount of manufacturing overhead that would have been applied to all jobs during the period is closest to: $446,000 $37,000 $372,190 O $405,860
Given a predetermined overhead rate of $1.60 per direct labor hour, a capacity of 50,000 hours and 42,000 actual hours, the cost of unused capacity is
silver company uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 17,500 hours. At the end of the year, actual direct labor-hours for the year were 16,000 hours, the actual manufacturing overhead for the year was $233,000, and manufacturing overhead for the year was underapplied by $15,400. The estimated manufacturing overhead at the beginning of the year used to calculate the predetermined overhead rate must have been:
Assume (1) estimated direct labor hours used to calculate the predetermined overhead rate = 19,950, (2) the manufacturing overhead applied to production = $105,000, and (3) the total direct labor hours actually worked during the period = 21,000.What is the estimated total manufacturing overhead cost for the period?
Mill Company estimates the company will incur $82,800 in overhead costs and 4,600 direct labor hours during the year. Actual direct labor hours were 4,850. Calculate the predetermined overhead allocation rate using direct labor hours as the allocation base, and prepare the journal entry for the allocation of overhead.
XYZ Company had the following information available for the last year: manufacturing overhead for the year was estimated to be OMR265,000; actual manufacturing overhead for the year was OMR250,000; actual direct labor-hours for the year were 13,010 hours; manufacturing overhead for the year was overapplied by OMR10,200. Predetermined overhead rate is based on direct labor- hours. What was the estimated direct labor-hours for the year? Select one Oa None of the answers given Ob13.250 OC 13,750 O d. 14.250
If estimated annual factory overhead is $768,000; overhead is applied using direct labor hours; estimated annual direct labor hours are 240,000; actual March factory overhead is $68,800; and actual March direct labor hours are 21,000; then overhead is:

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS