Volex Inc. uses direct labor-hours to apply overhead.•Estimated overhead = $480,000• Actual overhead = $470,000•Actual direct labor-hours 30,000 hours⚫ Overhead was overapplied by $10,000•What is the predetermined overhead rate?

Step 1: Definition of Predetermined Overhead RateThe predetermined overhead rate is a cost…

Answered: Volex Inc. uses direct labor-hours to…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 4TP: If a company bases its predetermined overhead rate on 100,000 machine hours, and It actually has...

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A company calculated the predetermined overhead based on an estimated overhead of $70.000, and the activity for the cost driver was estimated as 2,500 hours. If product A utilized 1,350 hours and product 8 utilized 1,100 hours, what was the total amount of overhead assigned to the products? A. $35000 B. $30.800 C. $37,800 D. $68,600
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products: X and Y. The company uses direct labor hours to allocate overhead costs. • Product X requires 0.5 direct labor- hours per unit • Product Y requires 0.8 direct labor- hours per unit • The predetermined overhead rate is $72.00 per direct labor-hour What is the amount of overhead cost allocated to each unit of Product Y?
Thompson Manufacturing allocates overhead based on machine hours. The following data is provided: ⚫ Estimated Manufacturing Overhead: $450,000 • Actual Manufacturing Overhead: $470,000 Estimated Machine Hours: 30,000 • . Actual Machine Hours: 28,000 What is the amount of over- or under-allocated manufacturing overhead? A) Over-allocated by $30,000 B) Under-allocated by $30,000 C) Over-allocated by $50,000 D) Under-allocated by $50,000
What is predetermined overhead rate
How much is the company's predetermined overhead rate to the nearest cent ?
Calculate A B C
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Goodman Company has recently tried to improve its analysis for its manufacturing process. Units started into production equaled 50,000 and ending work in process equaled 7,000 units. Goodman had no beginning work in process inventory. Conversion costs are applied equally throughout production, and materials are applied at the beginning of the process. How much is the materials cost per unit if ending work in process was 40% complete and total materials costs equaled $500,000? O $10.00 O $9.77 O $8.77 O $11.63
If annual overhead costs are expected to be $ 784000 and direct labor costs are expected to be $ 1000000, then if the activity base is direct labor costs: a. a predetermined overhead rate cannot be determined. b. for every dollar of manufacturing overhead, 1.28 cents of direct labor will be assigned. c. for every dollar of direct labor, 78.4 cents of manufacturing overhead will be assigned. d. $ 1.28 is the predetermined overhead rate.
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Volex Inc. uses direct labor-hours to apply overhead. • Estimated overhead = $480,000 • Actual overhead = $470,000 • Actual direct labor-hours 30,000 hours ⚫ Overhead was overapplied by $10,000 • What is the predetermined overhead rate?