The budgeted manufacturing overhead rate. Given information: 2014, Budgeted manufacturing overhead cost is $4,800,000. Budgeted machine hour is $80,000.

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Answer 1

Question

Chapter 4, Problem 4.34P

1.

To determine

To compute: The budgeted manufacturing overhead rate.

Given information:

2014,

Budgeted manufacturing overhead cost is $4,800,000.

Budgeted machine hour is $80,000.

2.a

To determine

To compute: The under or over allocated manufacturing overhead of Z dispose off by write off to cost of goods sold method.

b.

To determine

To compute: The under or over allocated manufacturing overhead of Z dispose off by proration based on ending balance.

c.

To determine

To compute: The under or over allocated manufacturing overhead of Z dispose off by proration based on overhead allocated in 2014.

3.

To determine

To explain: The method applies by company to dispose the under allocated manufacturing overhead among the above three options.

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Q1:Wyatt Company had three intangible assets at the end of 2024 (end of the fiscal year): Computer software and Web development technology purchased on January 1, 2024, for $70,000. The technology is expected to have a useful life of four years. A patent purchased from R. Jay on January 1, 2024 for a cash cost of $6,000. Jay had registered the patent with the Canadian Intellectual Property Office seven years earlier on January 1, 2017. The cost of the patent is amortized over its legal life. A trademark that was internally developed and registered with the Canadian government for $13,000 on November 1, 2023. Management decided that the trademark has an indefinite life. Required: 1. What is the acquisition cost of each intangible asset?tech 70kpatent 6ktrademark 13k 2. Compute the amortization of each intangible asset at December 31, 2024. The company does not use contra accounts. (Round the final answers to the nearest whole dollar.)tech 17.5k patent: ???? 3-a. Compute the amount of…

Answer 2

Question

Chapter 4, Problem 4.34P

1.

To determine

To compute: The budgeted manufacturing overhead rate.

Given information:

2014,

Budgeted manufacturing overhead cost is $4,800,000.

Budgeted machine hour is $80,000.

2.a

To determine

To compute: The under or over allocated manufacturing overhead of Z dispose off by write off to cost of goods sold method.

b.

To determine

To compute: The under or over allocated manufacturing overhead of Z dispose off by proration based on ending balance.

c.

To determine

To compute: The under or over allocated manufacturing overhead of Z dispose off by proration based on overhead allocated in 2014.

3.

To determine

To explain: The method applies by company to dispose the under allocated manufacturing overhead among the above three options.

Expert Solution & Answer

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Answer 3

Question

Chapter 4, Problem 4.34P

1.

To determine

To compute: The budgeted manufacturing overhead rate.

Given information:

2014,

Budgeted manufacturing overhead cost is $4,800,000.

Budgeted machine hour is $80,000.

2.a

To determine

To compute: The under or over allocated manufacturing overhead of Z dispose off by write off to cost of goods sold method.

b.

To determine

To compute: The under or over allocated manufacturing overhead of Z dispose off by proration based on ending balance.

c.

To determine

To compute: The under or over allocated manufacturing overhead of Z dispose off by proration based on overhead allocated in 2014.

3.

To determine

To explain: The method applies by company to dispose the under allocated manufacturing overhead among the above three options.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 4, Problem 4.34P

1.

To determine

To compute: The budgeted manufacturing overhead rate.

Given information:

2014,

Budgeted manufacturing overhead cost is $4,800,000.

Budgeted machine hour is $80,000.

2.a

To determine

To compute: The under or over allocated manufacturing overhead of Z dispose off by write off to cost of goods sold method.

b.

To determine

To compute: The under or over allocated manufacturing overhead of Z dispose off by proration based on ending balance.

c.

To determine

To compute: The under or over allocated manufacturing overhead of Z dispose off by proration based on overhead allocated in 2014.

3.

To determine

To explain: The method applies by company to dispose the under allocated manufacturing overhead among the above three options.

Expert Solution & Answer

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Answer 5

Chapter 4, Problem 4.34P

1.

To determine

To compute: The budgeted manufacturing overhead rate.

Given information:

2014,

Budgeted manufacturing overhead cost is $4,800,000.

Budgeted machine hour is $80,000.

2.a

To determine

To compute: The under or over allocated manufacturing overhead of Z dispose off by write off to cost of goods sold method.

b.

To determine

To compute: The under or over allocated manufacturing overhead of Z dispose off by proration based on ending balance.

c.

To determine

To compute: The under or over allocated manufacturing overhead of Z dispose off by proration based on overhead allocated in 2014.

3.

To determine

To explain: The method applies by company to dispose the under allocated manufacturing overhead among the above three options.

Answer 6

Chapter 4, Problem 4.34P

1.

To determine

To compute: The budgeted manufacturing overhead rate.

Given information:

2014,

Budgeted manufacturing overhead cost is $4,800,000.

Budgeted machine hour is $80,000.

Answer 7

Chapter 4, Problem 4.34P

1.

To determine

To compute: The budgeted manufacturing overhead rate.

Given information:

2014,

Budgeted manufacturing overhead cost is $4,800,000.

Budgeted machine hour is $80,000.

Answer 8

2.a

To determine

To compute: The under or over allocated manufacturing overhead of Z dispose off by write off to cost of goods sold method.

Answer 9

2.a

To determine

To compute: The under or over allocated manufacturing overhead of Z dispose off by write off to cost of goods sold method.

Answer 10

b.

To determine

To compute: The under or over allocated manufacturing overhead of Z dispose off by proration based on ending balance.

Answer 11

b.

To determine

To compute: The under or over allocated manufacturing overhead of Z dispose off by proration based on ending balance.

Answer 12

c.

To determine

To compute: The under or over allocated manufacturing overhead of Z dispose off by proration based on overhead allocated in 2014.

Answer 13

c.

To determine

To compute: The under or over allocated manufacturing overhead of Z dispose off by proration based on overhead allocated in 2014.

Answer 14

3.

To determine

To explain: The method applies by company to dispose the under allocated manufacturing overhead among the above three options.

Answer 15

3.

To determine

To explain: The method applies by company to dispose the under allocated manufacturing overhead among the above three options.

Answer 16

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Answer 17

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Answer 18

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Answer 19

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The budgeted manufacturing overhead rate. Given information: 2014, Budgeted manufacturing overhead cost is $4,800,000. Budgeted machine hour is $80,000.

To compute: The budgeted manufacturing overhead rate. Given information: 2014, Budgeted manufacturing overhead cost is $4,800,000. Budgeted machine hour is $80,000.

To compute: The under or over allocated manufacturing overhead of Z dispose off by write off to cost of goods sold method.

To compute: The under or over allocated manufacturing overhead of Z dispose off by proration based on ending balance.

To compute: The under or over allocated manufacturing overhead of Z dispose off by proration based on overhead allocated in 2014.

To explain: The method applies by company to dispose the under allocated manufacturing overhead among the above three options.

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Chapter 4 Solutions

To compute: The budgeted manufacturing overhead rate.

Given information:

2014,

Budgeted manufacturing overhead cost is $4,800,000.

Budgeted machine hour is $80,000.