Which of the following choices represents the highest and lowest respective coordinates of activity level and corresponding total overhead costs? O ($370, 158 labour hours), ($564, 320 labour hours) O (320 labour hours, $564), (158 labour hours, $370) O ($564, 320 labour hours), ($370, 158 labour hours)

Which of the following choices represents the highest and lowest respective coordinates of activity level and corresponding total overhead costs? O ($370, 158 labour hours), ($564, 320 labour hours) O (320 labour hours, $564), (158 labour hours, $370) O ($564, 320 labour hours), ($370, 158 labour hours)

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

QUESTION: 1. IN THE COST RECONCILIATION REPORT UNDER THE FIFO METHOD, THE COSTS TO BE ACCOUNTED FOR EQUALS THE COST OF BEGINNING WORK IN PROCESS INVENTORY PLUS THE COST OF UNITS TRANSFERRED OUT. TRUE OR FALSE. PLEASE EXPLAIN. 2. WHEN THE PREDETERMINED OVERHEAD RATE IS BASED ON DIRECT LABOR-HOURS, THE AMOUNT OF OVERHEAD APPLIED TO A JOB IS PROPORTIONAL TO THE ESTIMATED AMOUNT OF DIRECT LABOR-HOURS FOR THE JOB. TRUE OF FALSE.
18) In traditional approach, overheads are absorbed based on: a. All the options listed b. Direct labour c. Direct wages d. Machine hours
Jackson Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on the machine hours required. (Click the icon to view the costs.) Requirements 1. 2. 3. Compute Jackson's predetermined overhead allocation rate. Prepare the journal entry to allocate manufacturing overhead. Post the manufacturing overhead transactions to the Manufacturing Overhead T-account. Is manufacturing overhead underallocated or overallocated? By how much? 4. Prepare the journal entry to adjust for the underallocated or overallocated manufacturing overhead. Does your entry increase or decrease Cost of Goods Sold? Print Allocated overhead to WIP Done - X Data table At the beginning of 2024, the company expected to incur the following: Manufacturing overhead costs Direct labor costs $880,000 1,540,000 Machine hours 80,000 hours At the end of 2024, the company had actually incurred: Direct labor costs Depreciation on manufacturing plant and equipment Property taxes on plant…
In a factory, a team of six maintenance staff are paid a guaranteed weekly wage. Which of the following is the most appropriate cost classification for their wages? Direct labour cost Indirect labour cost Semi-variable cost Variable overhead cost
N1. Account
Predetermined overhead rates are calculated: a. first and then multiplied by total actual units of the allocation base to compute the applied manufacturing overhead costs. b. based on actual total manufacturing overhead costs C. by dividing total estimated manufacturing overhead cost by total actual units of the allocation base. d. none of the given answers is correct. e. at the end of the accounting period once the actual amount of manufacturing overhead is known.
Ht.16.
9
how to i get total direct labor for a company with hours and cost number available?
2. Austin Electronics manufactures two large-screen television models: the Royale, which sells for $1,600, and a new model, the Majestic, which sells for $1,300. Few per unit cost data are given: Traditional Costing DM Royale $850 Majestic $570 DL ($20 per hour) MOH ($38 per DLH) $140 $248 $100 $190 In 2017, Austin manufactured 25,000 units of the Royale and 10,000 units of the Majestic. The overhead rate of $38 per direct labor hour was determined by dividing total expected manufacturing overhead of $7,600,000 by the total direct labor hours (200,000) for the two models. Management is considering phasing out the Royale model (comparatively low profit) and increasing the production of the Majestic model Before finalizing its decision, management asks Austin's controller to prepare an analysis using activity-based costing (ABC). The controller accumulates the following information about overhead for the year ended December 31, 2017. Est. Overhead Activity | Level 40,000 18,000…
Prime cost is the (Total )summation of Select one: a. Direct material +Direct Labour +Direct Expenses b. Direct material +Direct Labour + Selling Overheads c. Direct material +Direct Labour +Factory overheads d. Direct material +Direct Labour +Office Overheads
Please show your work.