The following data relate to the overhead expenditure of an organisation at two activity levels. Square metres 12,750 15,100 Overheads $73,950 $83,585 What is the estimated overhead expenditure if 16,200 square metres are to be cleaned? A $25,626 B $44,745 C $88,095 D $192,645

The following data relate to the overhead expenditure of an organisation at two activity levels. Square metres 12,750 15,100 Overheads $73,950 $83,585 What is the estimated overhead expenditure if 16,200 square metres are to be cleaned? A $25,626 B $44,745 C $88,095 D $192,645

Name: The following data relate to the overhead expenditure of an organisati
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: The following data relate to the overhead expenditure of an organisation at two activity levels.Square metres 12,750 15,100Overheads $73,950 $83,585What is the estimated overhead expenditure if 16,200 square metres are to be cleaned?A $25,626B $44,74

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

Octogon, Inc. has three operating departments: Cutting, Assembling, and Finishing. The data below are provided for the current year: Assembling Dept # workers 4,000 Cutting Dept Finishing Dept 5,000 1,000 Square ft occupied 15,000 sq ft 12,000 sq ft 23,000 sq ft Total Maintenance costs of $220,000 are allocated to each department based on the number of square feet. Determine the Maintenance costs to be allocated to each department. Check figure: Finishing Dept $101,200
The following information is available: -Estimated Factory Overhead for the year $10,000 -Estimated Direct Labor Hours for the year 5,000 -Actual Factory Overhead for the year $9,500 -Actual Direct Labor Hours for the year 5,010 1. What is the amount of the Applied Factory overhead? A. $9,969.90 B.$10,020.00 C.$9,468.90 D. Not enough information 2.Total factory payroll paid was $60,000 of which $5,000 is indirect labor. What is the journal entry? A. FOH $65,000; Wages Payable $65,000 B. WIP $55,000; Wages Payable $60,000; FOH $5,000 C. WIP $60,000, FOH 5,000; Cash $65,000 D. WIP $55,000; FOH 5,000; Cash $60,000 3. The Cost of Goods Manufactured ($20,00) was transferred out of the factory. What is the journal entry? A. FG $20,000; WIP $20,000 B. FG $20,000; COGS $20,000 C. WIP $20,000; FG $20,000 D. COGM $20,000; $20,000
Sierra Company has two operating departments: Mixing and Bottling. Mixing occuples 26,460 square feet. Bottling occupies 17,640 square feet. Maintenance costs of $226,000 are allocated to operating departments based on square feet occupied. Determine the maintenance costs allocated to each operating department. Department Mixing Bottling Total Square Feet 0 Percent of Total % % 0.00 % Cost Allocated $ 0
Estimated cost and operating data for four companies for the upcoming year is as follow: Description Company X Company Y Company Z Company A Direct labor hours 80,000 45,000 60,000 45,000 Machine hours 30,000 70,000 21,000 28,500 Direct material cost $400,000 $290,000 $300,000 $265,000 Manufacturing overhead cost $536,000 $315,000 $480,000 $380,000 Predetermined overhead rates are computed using the following allocation bases in the four companies: Company Allocation Base X Direct labor hours Y Machine hours Z Direct material cost A 105% of DM cost Required: Compute each company’s predetermined overhead rate.
Use three different activities as cost drivers, machine setups, machine hours, and inspections to compute the overhead rate for each activity. Activity Overhead per Activity Annual Usage Machine Setups $75,000 6,000 Machine Hours $85,002 5,484 Inspections 70,000 20,000
A local picnic table manufacturer has budgeted these overhead costs - ERROR: "Handling materials" is $33,350 - (note their order as you will use the same order down below): Purchasing Handling materials Machine setups $70,000 33,333 70,500 25,500 45,000 Inspections Utilities They are considering adapting ABC costing and have estimated the cost drivers for each pool as shown (again, note their order): Cost Driver Activity Orders 700 Material moves Machine setups Number of inspections Square feet 1,334 15,000 5,000 180,000 Recent success has yielded an order for 1,000 tables. Assume direct labor costs per hour of $20. Determine how much the job would cost given the following activities (once more, note their order for the last worksheet): Activity Order (units) Direct materials 1,000 112,700 15,200 5,300 60 Machine hours Direct labor hours Number of purchase orders Number of material moves Number of machine setups Number of inspections Number of square feet occupied 800 100 450 8,000…
Compute factory overhead cost from the following costs: Depreciation on factory buildings $ 45,950 Depreciation on office equipment 32,980 Direct materials used 96,840 Indirect labor $ 6,580 a.$78,930 b.$73,000 c.$96,840 d.$52,530
Continuation.. Data for Finishing Department are as follows: Cost Data: Beginning Work in Process Costs Transferred In from Prior Dept 27,225 Costs Incurred in this Department: Materials 1,500 Labor 5,500 Overhead 4,500 Current Month Cost: Costs Transferred In from Prior Dept ?????? Costs Incurred in this Department: Materials 23,500 Labor 70,000 Overhead 75,000 Production Data: Quantity: Work in Process – Beginning 10,000 Started in Process 30,000 Transferred out to Next Department From Work in Process – Beginning 10000 Started and Completed 18,500 28,500 Work in Process – Ending 10,800 Lost Units – Normal 450 Abnormal Lost Units 250 Stage of Completion: Beginning Ending Transferred In Costs 100% 100% Materials 60% 55% Labor 60% 55% Overhead 60% 55% 1. Referring to Finishing Department, what is the total cost allocated to abnormal spoilage using the weighted-average method? 2.…
Manufacturing overhead allocated for 20X6 is: Select one: a. $252,000 b. $220,500 c. $450,450 d. $264,000
Journalize the following transactions: Materials used in production, $40,000 Paid plant supervisor’s salary, $6,000 Plant depreciation, $10,000 Production labor costs incurred, $80,000 MOH is allocated at the rate of 120% of direct labor costs Cost of goods manufactured, $200,000 Revenue on account, $450,000 Cost of goods sold, $300,000 Paid advertising costs, $90,000
Problem No. 3 Calculate the (1) Total Manufacturing Overhead, (2) Selling Expenses and (3) Administrative Expenses incurred by EFG Corp. Materials used (including Php70,000 of IM) Php 780,000.00 Labor Cost (including Php40,000 IL) 540,000.00 Supervisor Salary - plant Utilities - plant Salesperson's salaries Advertising Expenses Insurance & Property taxes - plant Insurance & Property taxes - central office 600,000.00 60,000.00 320,000.00 55,000.00 150,000.00 200,000.00