i) Calculate the predetermined overhead rates for the firing and polishing departments.ii) Calculate the overhead applied to production in each department for the month of June.iii) Identify whether overhead variance for each department has been overapplied or underapplied? Question 1Use the following information for Questions 1 a) and 1 b):a) At the beginning of the year, Juju Sdn. Bhd. estimated the following:Firing DepartmentTotalPolishing DepartmentRMRMRMOverhead405,000515,000Direct labour hours28,750110,000100,0000128,750Kiln hours90,00090,000Refer to the information for Juju Sdn. Bhd. above. Juju uses departmental overhead rates. Inthe firing department, overhead is applied on the basis of kiln hours (number of hours spent inthe gas-fired kiln). In the polishing department, overhead is applied on the basis of direct laborhours. Actual data for the month of June are as follows:Firing DepartmentRMPolishing DepartmentRMTotalRMOverhead34,0009,37043,370Direct labour hours2,35010,9508,6000Kiln hours7,4007,400U

Name: i) Calculate the predetermined overhead rates for the firing and polis
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Description: i) Calculate the predetermined overhead rates for the firing and polishing departments.ii) Calculate the overhead applied to production in each department for the month of June.iii) Identify whether overhead variance for each department has been over

Predetermined overhead rate is the rate of cost allocation which is determined based on the…

Business

Accounting

Use the following information for Questions 1 a) and 1 b): a) At the beginning of the year, Juju Sdn. Bhd. estimated the following: Total Firing Department RM Polishing Department RM RM Overhead 405,000 110,000 515,000 Direct labour hours 28,750 100,000 128,750 Kiln hours 90,000 0 90,000 Refer to the information for Juju Sdn. Bhd. above. Juju uses departmental overhead rates. In the firing department, overhead is applied on the basis of kiln hours (number of hours spent in the gas-fired kiln). In the polishing department, overhead is applied on the basis of direct labor hours. Actual data for the month of June are as follows: Firing Department RM Polishing Department RM Total RM Overhead 34,000 9,370 43,370 Direct labour hours 2,350 8,600 10,950 Kiln hours 7,400 0 7,400 ← C

Use the following information for Questions 1 a) and 1 b): a) At the beginning of the year, Juju Sdn. Bhd. estimated the following: Total Firing Department RM Polishing Department RM RM Overhead 405,000 110,000 515,000 Direct labour hours 28,750 100,000 128,750 Kiln hours 90,000 0 90,000 Refer to the information for Juju Sdn. Bhd. above. Juju uses departmental overhead rates. In the firing department, overhead is applied on the basis of kiln hours (number of hours spent in the gas-fired kiln). In the polishing department, overhead is applied on the basis of direct labor hours. Actual data for the month of June are as follows: Firing Department RM Polishing Department RM Total RM Overhead 34,000 9,370 43,370 Direct labour hours 2,350 8,600 10,950 Kiln hours 7,400 0 7,400 ← C

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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