The Quadrangle Fabrication Plant had a fire at the beginning of 2013 and most of the rec for the year 2012 were lost. Some data for the year 2012 were located by the account 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 S186,000 3,600 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?

The Quadrangle Fabrication Plant had a fire at the beginning of 2013 and most of the rec for the year 2012 were lost. Some data for the year 2012 were located by the account 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 S186,000 3,600 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?

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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Nancy Inc., incurred the following actual overhead costs for the month of April: Account Cost Indirect materials $10,000 Indirect labor $20,000 Factory equipment depreciation $ 8,000 Factory building rent $ 7,000 Environmental remediation costs $ 2,000 Overhead is applied based on a predetermined rate of $8 per direct labor hour, and 6,500 direct labor hours were used during April. The balance of the T account for Manufacturing Overhead (MOH) would show which of the following? Group of answer choices $5,000 of credit balance of overallocated MOH $10,000 credit balance of under allocated MOH $5,000 of debit balance of overallocated MOH $10,000 debit balance of under allocated MOH
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