Taylor Company uses normal costing. It allocates manufacturing overhead costs using a budgeted rate per machine hour. The following data are available for 2017: Budgeted manufacturing overhead costs $3,800,000 Budgeted machine-hours 200,000 Actual manufacturing overhead costs $3,660,000 196,000 Actual machine-hours 1. The budgeted manufacturing overhead rate is 2. The manufacturing overhead allocated during 2017 is 3. The amount of under-or overallocated manufacturing overhead is
Q: Towson Manufacturing had a work in process balance of.... Please need answer the general accounting…
A: To determine the total manufacturing costs incurred during 2018, we can use the following formula:…
Q: Provide correct answer general Accounting
A: Step 1: Define Work-in-Process InventoryWork-in-process inventory is an inventory class found in the…
Q: Need correct solution general accounting
A: Step 1: Define Intangible AssetThe assets of a company can be divided into two categories namely…
Q: Please given correct answer general accounting
A: The dollar return measures the total amount you earned from an investment. It includes two…
Q: 6 When should alternative measurement bases supplement cost? a. Historical cost tells whole story b.…
A: Explanation of Historical Cost: This refers to the original purchase price or cost of acquiring an…
Q: Do fast answer of this general accounting question
A: Step 1: Let us first look at the information providedActual Overhead Cost = $420,000Standard…
Q: Please provide this question solution general accounting
A: Step 1: Definition of Standard Overhead RateThe standard overhead rate is the estimated overhead…
Q: Buckborn corporation bases it's predetermined solve this general accounting question
A: Step 1: Define Predetermined Overhead RatePredetermined overhead rate refers to the rate which is…
Q: The Leo Company had
A: Explanation of Sales Revenue:Sales revenue is the total income generated from selling goods or…
Q: I won't to this question answer general Accounting
A: To calculate the return on common stockholders' equity (ROE), we use the following formula: ROE =…
Q: Give me answer
A: Explanation of Take-or-Pay Contracts:Take-or-pay contracts are agreements where the buyer commits to…
Q: None
A: Step 1: Define Variance PercentageWe just need two values for calculating the variance percentage.…
Q: Provide correct option general accounting
A: Step 1: Define Net income The net income is the amount arrived at after deducting all the expenses…
Q: Use table information to get answer
A: Explanation of Accounts Receivable Turnover:Accounts receivable turnover is a financial metric used…
Q: None
A: Step 1: Formula Retained earnings, June 30 = Retained earnings, June 1 + Net income - Dividends paid…
Q: None
A: Step 1: Define Manufacturing OverheadManufacturing overhead costs are the expenses which are…
Q: During fy 2018 bay manufacturing had solve this accounting questions
A: Step 1: Information provided:January 1, 2019 inventory of Work-in-Process is carried forward from…
Q: I Need help this question solution general Accounting
A: Step 1: Define Direct Labor Budget:The direct labor budget is one of the manufacturing cost budgets…
Q: Answer? ? Financial accounting
A: WACC = (Cost of Equity*Weight of Equity) + (Cost of Debt*Weight of Debt)*(1-Tax Rate) WACC =…
Q: Shares of common stock of Samson Co. offer.... Please correct calculation for this financial…
A: Step 1: Define Dividend YieldThe dividend yield depicts the percentage value of the company's…
Q: Omega manufacturing uses weighted average solution this general accounting question
A: Step 1: Definition of Equivalent Units for Conversion CostsEquivalent units for conversion costs…
Q: Consider the information given solve this general accounting question
A: Step 1: Define Cost of Goods SoldThe cost of goods sold is recorded in the book of accounts using a…
Q: Please need answer the accounting question not use chatgpt
A: Step 1: Define Income StatementThe income statement is the financial statement on which revenues,…
Q: Need help with this accounting questions
A: To calculate the project's Year 3 cash flow, we need to determine the after-tax operating cash flow,…
Q: Do fast answer of this accounting questions
A: Step 1: Definition of High-Low MethodHigh-Low Method: A technique used to estimate the fixed and…
Q: Give me solution to both part
A: a. Overhead Rate as a Percent of Direct LaborThis rate measures factory overhead costs as a…
Q: I won't to this question answer general Accounting
A: Step 1: Define Direct Manufacturing Overhead CostManufacturing overhead costs are those costs which…
Q: Accounting question
A: To calculate the total fixed cost, we use the following formula: Operating Income = Revenue ×…
Q: I won't to this question answer general Accounting
A: Step 1: Define Net LossThe amount of net loss is presented in the income statement. Net loss will be…
Q: How many units were sold?
A: Explanation of Operating Income:Operating income represents the profit a company earns from its core…
Q: Hello tutor please provide this question solution general accounting
A: Step 1: Define Total Stockholders' Equity:The total stockholders' equity is equal to the net asset…
Q: ans
A: Explanation of Standard Labor Hours: This represents the pre-determined or budgeted number of hours…
Q: I need this question answer General Accounting
A: Step 1: Define Effect of Collection Period on Cash FlowCash flow from accounts receivable is…
Q: Please solve this question general accounting
A: Step 1: Define Variance AnalysisThe variance analysis for a firm is usually carried out for…
Q: Need help with this financial accounting question
A: To calculate the adjusting entry for interest accrued on the note payable, follow these steps: Step…
Q: Provide answer financial accounting
A: Step 1: Given Value for Calculation Current Price of Stock = p = $64.37Last Year Dividend = d =…
Q: Solve this question general Accounting
A: Step 1: Define Share WarrantsA "share warrant" refers to a document that provides the holder the…
Q: General Accounting question
A: Step 1: Define Du Pont AnalysisDu Pont model aids in assessing return equity. To obtain a clear…
Q: What purpose does documentary reliability analysis serve in digital accounting?
A: Option a: This option is correct because documentary reliability analysis ensures the authenticity…
Q: Provide answer general accounting
A: Step 1: Define Cost of Goods SoldThe cost of goods sold, sometimes also referred to as the cost of…
Q: What is the amount of budgeted direct labor cost for the month of July? General accounting
A: Step 1: Define Direct LaborDirect labor refers to the amount of wages of the persons who are…
Q: You borrow $700 and promise to pay back $749 at the end of 1 year. Find interest rates earned.
A: By dividing the new amount paid (interest) by the initial amount borrowed (principal), the interest…
Q: Need answer the financial accounting question not use ai
A: The formula for dividend yield is: Dividend Yield = Dividend / Price In this case:The most recent…
Q: Do fast answer of this accounting questions
A: Step 1: Define Predetermined overhead rateThe predetermined overhead rate is the rate that is used…
Q: I need answer of this accounting questions
A: Step 1: Definition of Profitability Index (PI)The Profitability Index (PI) is a financial metric…
Q: Help me
A: Hope this helps
Q: Need help with this general accounting question
A: Step 1: Identify the Total Paycheck formulaStep 2: Substitute the known values into the formulaStep…
Q: I need this question answer general Accounting
A: Step 1: Define Standard CostingUnder standard costing, we compare actual and standard performance.…
Q: Autoline Corporation is the exclusive distributor for a car accessory that sells for... Please…
A: Step 1: Define Contribution Margin (CM) RatioThe Contribution Margin (CM) Ratio is a financial…
Q: Given correct answer financial accounting
A: To calculate the cost of common stock using the CAPM (Capital Asset Pricing Model) equation, the…
Please solve this question financial accounting
Step by step
Solved in 2 steps
- Gammaro company uses normal costing. it allocates manufacturing overhead cost using a budgeted rate per machine-hours.the following data are available for 2017 : Budget manufacturing overhead costs $4.600.000 Budgeted machine-hours 184.000 Actual manufacturing overhead costs $4.830.000 Actual machine hours 180.000 Required: a. Calculate the budget manufacturing overhead rate b.calculate the manufacturing overhead allocated during 2017 c. Calculate the amount of under or overallocated manufacturing overhead. Why do Gammaro's managers need to calcukate this amount?Budgeted manufacturing overhead rate, allocated manufacturing overhead. Taylor Company uses normal costing. It allocates manufacturing overhead costs using a budgeted rate per machine-hour. The following data are available for 2017:Taylor Company uses normal job costing. It allocates manufacturing overhead costs using a budgeted rate per machine-hour. The following data are available for 2017: Budgeted manufacturing overhead costs $3,800,000Budgeted machine-hours 200,000Actual manufacturing overhead costs $3,660,000Actual machine-hours 196,000 1. Show two T-accounts, MOHA and MOHC. In the MOHA T-account, show the calculation of allocated OH. ( please show all t-accounts calculation). 2. During the accounting period, the company allocates OH to each job. Write the journal entry to show the allocation of OH. 3. At the end of the accounting period, the company closes the MOHA and MOHC T-accounts, and adjusts COGS. Write this journal entry. 4. Is the allocated OH over-or under-allocated?
- Budgeted manufacturing overhead rate, allocated manufacturing overhead. Taylor Company uses normal costing. It allocates manufacturing overhead costs using a budgeted rate per machine-hour. The following data are available for 2017: Budgeted manufacturing overhead costs $3,800,000 Budgeted machine-hours 200,00 Actual manufacturing overhead costs $3,660,000 Actual machine hours 196,000 #1 Calculate the budgeted manufacturing overhead rate. #2 Calculate the manufacturing overhead allocated during 2017. #3 Calculate the amount of under- or overallocated manufacturing overhead. Why do Taylor’s managers need to calculate this amount?Buller Company uses normal costing. It allocates manufacturing overhead costs using a budgeted rate per machine-hour. The following data are available for 2019:Budgeted manufacturing overhead costs Budgeted machine-hoursActual manufacturing overhead costs Actual machine-hoursRequired:$4,800,000 180,000 $3,990,000150,0001. Calculate the budgeted manufacturing overhead rate.2. Calculate the manufacturing overhead allocated during 2019.3. Calculate the amount of under- or overallocated manufacturing overhead. Whydo Buller’s managers need to calculate this amount?Which of the preceding costs is variable? Fixed? Mixed? Explain.
- Products uses a job-costing system with two direct-cost categories (direct materials and direct manufacturing labor) and one manufacturing overhead cost pool. Davey allocates manufacturing overhead costs using direct manufacturing labor costs.Davey provides the following information: Budget for 2017 Actual Results for 2017 Direct material costs 2,050,000 1,975,000 Direct manufacturing labor costs 1,600,000 1,550,000 Manufacturing overhead costs 2,880,000 2,945,000 1. Compute the actual and budgeted manufacturing overhead rates for 2017. 2. During March, the job-cost record for Job 626 contained the following information: Direct materials used $50,000 Direct manufacturing labor costs $40,000 Compute the cost of Job 626 using (a) actual costing and (b) normal costing. 3. At the end of 2017, compute the under- or overallocated manufacturing overhead under normal costing. Why is there no…< Deluxe, Inc. uses a standard cost system and provides the following information. (Click the icon to view the information.) Deluxe allocates manufacturing overhead to production based on standard direct labor hours. Deluxe reported the following actual results for 2024: actual number of units produced, 1,000, actual variable overhead, $5,000, actual fixed overhead, $3,200; actual direct labor hours, 1,400. Read the requirements Data table Static budget variable overhead Static budget fixed overhead Static budget direct labor hours Static budget number of units Standard direct labor hours Print The fixed overhead cost variance is The fixed overhead volume variance is $2,100 $2,800 1,400 hours 700 units 2 hours per unit Done Requirements 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances. 2. Explain why the variances are favorable or unfavorable irect labor hour was sed Print Done because the total fixed overhead cost was because…prepare Cost of goods sold budget for march 2017.
- All−Star, Inc. uses a standard cost system and provides the following information. Static budget variable overhead $1,200 Static budget fixed overhead $1,600 Static budget direct labor hours 800 hours Static budget number of units 400 units Standard direct labor hours 2 hours per unit All−Star allocates manufacturing overhead to production based on standard direct labor hours. All−Star reported the following actual results for 2018: actual number of units produced, 1,000; actual variable overhead, $3,800; actual fixed overhead, $3,400; actual direct labor hours, 1,500. 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances. 2. Explain why the variances are favorable or unfavorable. Requirement 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances. Begin with the variable overhead cost and efficiency variances. Select the…Deluxe, Inc. uses a standard cost system and provides the following information. Static budget variable overhead $2,100 Static budget fixed overhead $2,800 Static budget direct labor hours 1,400 hours Static budget number of units 700 units Standard direct labor hours 2 hours per unit Deluxe allocates manufacturing overhead to production based on standard direct labor hours. Deluxe reported the following actual results for 2018: actual number of units produced, 1,000; actual variable overhead, $5,000; actual fixed overhead, $3,500; actual direct labor hours, 1,900. 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances. 2. Explain why the variances are favorable or unfavorable. Begin with the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and efficiency variances, and identify whether each variance is…Classify each of the costs in table A into variable and fixed cost?