Chapter 20, Problem 20.7DMP

A company estimates $12 million in direct labor, and overhead costs for the next year will be $9,200,000 for indirect labor and $800,000 for factory utilities. The company uses machine hours as its overhead allocation base. If 300,000 machine hours are planned for this next year, what is the company's plantwide overhead rate?

Dawson Metal Works applies manufacturing overhead to products based on standard direct labor hours. The budgeted fixed manufacturing overhead cost for the most recent month was $35,700, and the actual fixed manufacturing overhead cost for the month was $36,200. The company based its original budget on 7,500 direct labor hours. The standard hours allowed for the actual output of the month totaled 7,100 direct labor hours. a. What was the overall fixed manufacturing overhead budget variance for the month? b. What was the fixed overhead rate? c. What was the volume variance?

Red Farms purchased a diesel-powered harvester for $195,600, with an estimated residual value of $9,500. The harvester is expected to have a useful operating life of 50,000 hours. During June, the harvester was operated for 120 hours. Determine the depreciation for the month. provide answer

Please provide the accurate solution to this financial accounting question using valid calculations.

I am searching for the correct answer to this general accounting problem with proper accounting rules.

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Net income for the year is?

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Lawrence Industries plans to produce 30,000 units next period at a denominator activity of 45,000 direct labor hours. The direct labor wage rate is $16.00 per hour. The company's standards allow 2.2 yards of direct materials for each unit of product; the material costs $8.50 per yard. The company's budget includes a variable manufacturing overhead cost of $3.25 per direct labor hour and fixed manufacturing overhead of $270,000 per period. Using 45,000 direct labor hours as the denominator activity, compute the predetermined overhead rate and break it down into variable and fixed elements.