Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN: 9781337619455
Author: Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher: Cengage Learning
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Please give me true answer this financial accounting question
calculate the predetermined overhead rate.
The Galaxy Company has the following balances:
• Cash: $35,000
. Supplies: $12,000
. Accounts Receivable: $25,000
. Equipment: $80,000
.
Notes Payable: $45,000
• Accounts Payable: $20,000
Calculate the owner's equity for Galaxy Company.
a. $52,000
b. $87,000
c. $107,000
d. $127,000
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- Weston Industries uses a predetermined overhead rate of $19.75 per direct labor hour. This predetermined rate was based on a cost formula that estimates $245,000 of total manufacturing overhead for an estimated activity level of 12,400 direct labor hours. The company incurred actual total manufacturing overhead costs of $238,000 and 11,900 total direct labor hours during the period. Determine the amount of underapplied or overapplied manufacturing overhead for the period.arrow_forwardSolve this accounting issue without use Aiarrow_forwardHow much is the direct labor price variance?arrow_forward
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