The Chronicle Fabrication Plant had a fire at the beginning of 2019 and most of the records for the year 2018 were lost. Some data for the year 2018 were located by the accountants and are shown below. Total manufacturing overhead estimated at the beginning of the year. Total direct labor costs estimated at the beginning of the year. Total direct labor hours (DLH) estimated at the beginning of the year. 3,600 DLH Actual manufacturing overhead costs for the year. Actual direct labor costs for the year. Actual direct labor hours (DLH) for the year. $105,840 $186,000 $99.760 $142,000 2,950 DLH The company bases its manufacturing overhead allocation on direct labor hours. How much manufacturing overhead was allocated to production in 2016? O a. $81,745 O b. $86,730 O c. $99,769 O d. $105,816

The Chronicle Fabrication Plant had a fire at the beginning of 2019 and most of the records for the year 2018 were lost. Some data for the year 2018 were located by the accountants and are shown below. Total manufacturing overhead estimated at the beginning of the year. Total direct labor costs estimated at the beginning of the year. Total direct labor hours (DLH) estimated at the beginning of the year. 3,600 DLH Actual manufacturing overhead costs for the year. Actual direct labor costs for the year. Actual direct labor hours (DLH) for the year. $105,840 $186,000 $99.760 $142,000 2,950 DLH The company bases its manufacturing overhead allocation on direct labor hours. How much manufacturing overhead was allocated to production in 2016? O a. $81,745 O b. $86,730 O c. $99,769 O d. $105,816

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter15: Introduction To Managerial Accounting

Section: Chapter Questions

Problem 2CMA

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The Chronicle Fabrication Plant had a fire at the beginning of 2019 and most of the records for the year 2018 were lost. Some data for the year 2018 were located by the accountants and are shown below. Total manufacturing overhead estimated at the beginning of the year. $105,840 Total direct labor costs estimated at the beginning of the year. Total direct labor hours (DLH) estimated at the beginning of the year: 3,600 DLH| Actual manufacturing overhead costs for the year. Actual direct labor costs for the year: Actual direct labor hours (DLH) for the year. $186,000 $99,760 $142,000 2,950 DLH Using direct labour hours as the cost driver, the journal entry to dispose of the manufacturing overhead variance is: O a. Dr. Manufacturing Overhead $13,030 and Cr. COGS $13,030 O b. Dr. Manufacturing overhead $6,080 and Cr. COGS $6,080 O c. Dr. WIP $1,0800 and Cr. Manufacturing Overhead $6,080 O d. Dr. COGS $13,030 and Cr. Manufacturing Overhead $13,030
The Chronicle Fabrication Plant had a fire at the beginning of 2019 and most of the records for the year 2018 were lost. Some data for the year 2018 were located by the accountants and are shown below. Total manufacturing overhead estimated at the beginning of the year: Total direct labor costs estimated at the beginning of the year Total direct labor hours (DLH) estimated at the beginning of the year Actual manufacturing overhead costs for the year: Actual direct labor costs for the vear Actual direct labor hours (DLH) for the year: S105 840 S186.000 3,600 DLH $99 760 2,950 DLH The company bases its manufacturing overhead allocation on olrect labor hous How much manufacturing overhead was allocated to production n 2016? Oa $105,816 O.b. $86,730 4: 599,769
The Quadrangle Fabrication Plant suffered a fire incident at the beginning of the year, which resulted in the loss of property including the accounting records. Some data for the year were retrieved, and extracts from it are shown below: Total manufacturing overhead costs estimated at the beginning of the year $102,940 Total direct labor costs estimated at the beginning of the year $184,000 Total direct labor hours estimated at the beginning of the year 3,300 direct labor hours Actual manufacturing overhead costs for the year $98,770 Actual direct labor costs for the year $150,000 Actual direct labor hours for the year 2,500 direct labor hours The company's manufacturing overhead allocation is based on direct labor hours. How much manufacturing overhead was allocated to production during the year? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) Question content area…
Equinox Fabrication Plant suffered a fire incident in August due to which most of the records for the year were destroyed. The following accounting data for the year that were recovered: Total manufacturing overhead estimated at the beginning of the year $105,840 Total direct labor costs estimated at the beginning of the year $186,000 Total direct labor hours estimated at the beginning of the year 3,600 direct labor hours Actual manufacturing overhead costs for the year $99,760 Actual direct labor costs for the year $142,000 Actual direct labor hours for the year 2,950 direct labor hours The company bases its manufacturing overhead allocation on direct labor hours. Calculate the predetermined overhead allocation rate for the year?
Equinox Fabrication Plant suffered a fire incident in August due to which most of the records for the year were destroyed. The following accounting data for the year that were recovered: Total manufacturing overhead estimated at the beginning of the year $105,840 Total direct labor costs estimated at the beginning of the year $186,000 Total direct labor hours estimated at the beginning of the year 3,600 direct labor hours Actual manufacturing overhead costs for the year $99,760 Actual direct labor costs for the year $142,000 Actual direct labor hours for the year 2,950 direct labor hours The company bases its manufacturing overhead allocation on direct labor hours. What was the predetermined overhead allocation rate for the year? How much manufacturing overhead was allocated to production during the year?
Equinox Fabrication Plant suffered a fire incident in August due to which most of the records for the year were destroyed. The following accounting data for the year that were recovered: Total manufacturing overhead estimated at the beginning of the year $105,840 Total direct labor costs estimated at the beginning of the year $186,000 Total direct labor hours estimated at the beginning of the year 3,600 direct labor hours Actual manufacturing overhead costs for the year $99,760 Actual direct labor costs for the year $142,000 Actual direct labor hours for the year 2,950 direct labor hours The company bases its manufacturing overhead allocation on direct labor hours. What was the predetermined overhead allocation rate for the year?
Equinox Fabrication Plant suffered a fire incident in August due to which most of the records for the year were destroyed. The following accounting data for the year that were recovered: Total manufacturing overhead estimated at the beginning of the $105,840 $186,000 3,600 direct labor hours $99,760 $142,000 year Total direct labor costs estimated at the beginning of the year Total direct labor hours estimated at the beginning of the year Actual manufacturing overhead costs for the Actual direct labor costs for the year Actual direct labor hours for the year year 2,950 direct labor hours The company bases its manufacturing overhead allocation on direct labor hours. What was the predetermined overhead allocation rate for the year?
The Quadrangle Fabrication Plant had a fire at the beginning of 2013 and most of the records for the year 2012 were lost. Some data for the year 2012 were located by the accountants and are shown below. Total manufacturing overhead estimated at the beginning of the year: Total direct labor costs estimated at the beginning of the year: Total direct labor hours (DLH) estimated at the beginning of the year: Actual manufacturing overhead costs for the year: Actual direct labor costs for the year: Actual direct labor hours (DLH) for the year: S105,840 $186,000 3,б00 DLH $99.760 $142,000 2,950 DLH The company bases its manufacturing overhead allocation on direct labour hours. What was the predetermined manufacturing overhead allocation rate for 2012?
Win Company fabricated equipment for its office use in the company’s plant during 2019. The following data were taken from the company’s records of materials and direct labor, respectively: 1. Finished Goods: Materials- P1,000,000; Direct Labor- P1,500,000 2. Office equipment: Materials- P600,000; Direct Labor- P500,000 Factory overhead for the period amounted to P1,200,000. Normal production of the finished goods is 50,000 units. Due to the fabrication of the office equipment, finished goods produced totaled 35,000 units only during 2019. The office equipment is to be charged with the overhead which would have been apportioned to the 15,000 units that were not produced. What is the cost of the equipment after apportionment of factory overhead?
On September 25, 2020, a hurricane destroyed the work in process inventory of Biloxi Corporation. At that time, the company was in the process of manufacturing two custom jobs (B325 and Q428). Although all of Biloxi's on-site accounting records were destroyed, the following information is available from some backup off -site records: cements 55 Biloxi Corp. applies overhead at the rate of 85 percent of direct labor cost. The cost of goods sold for the company averages 75 percent of selling price. Sales from January 1 to the date of the hurricane totaled P1,598,000. The company's wage rate for production employees is P12.90 per hour. A total of 25,760 direct labor hours were recorded from January 1 through September 25. • As of September 25, P21,980 of direct material and 128 hours of direct labor had been recorded for Job B325. Also at that time, P14,700 of direct material and 240 hours of direct labor had been recorded for Job Q428. January 1, 2020, inventories were as follows:…
The ABC Furniture Mfg. Co. fabricated and fixtures for its office use in the company’s plant during 2020. The following data were taken from the company’s records: Factory overhead amounted to ₱134,000. Normal production of finished goods results in 420 units. Due to the fabrication of office furniture and fixtures, finished goods produced totaled 294 units only in 2020. The assets are to be charged with the overhead which would have been apportioned to the 126 units which were not produced. What is the total cost of office furniture and fixtures?
North Country Industries manufactures Adirondack chairs. The company reported the following costs for June 2020. Item Cost Wood $164,630 Nails, glue, stain $14,290 Indirect manufacturing labor $40,640 Depreciation on skill saws $4,720 Depreciation on delivery truck $2,010 Assembly-line workers wages $49,960 Prepare the journal entries for the overhead costs incurred. Assume labor has been incurred by not yet paid. Record the entries in the order they appear in the chart above.Journal Date Description Debit Credit June 30 June 30 June 30 June 30 June 30 June 30