EBK PRINCIPLES OF AUDITING & OTHER ASSU
EBK PRINCIPLES OF AUDITING & OTHER ASSU
21st Edition
ISBN: 9781260299434
Author: WHITTINGTON
Publisher: YUZU
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Chapter 5, Problem 43QRA
To determine

Evaluate the issue related to working papers.

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In the current year, Palmer Industries incurred $180,000 in actual manufacturing overhead cost. The Manufacturing Overhead account showed that overhead was overapplied in the amount of $9,000 for the year. If the predetermined overhead rate was $10.00 per direct labor-hour, how many hours were worked during the year? ANSWER?
What is the cost of goods manufactured for 2023 ??
At the beginning of the year, manufacturing overhead for the year was estimated to be $315,840. At the end of the year, actual direct labor-hours for the year were 25,800 hours, the actual manufacturing overhead for the year was $308,700, and manufacturing overhead for the year was overapplied by $14,500. If the predetermined overhead rate is based on direct labor-hours, then what must have been the estimated direct labor-hours at the beginning of the year used in the predetermined overhead rate?

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EBK PRINCIPLES OF AUDITING & OTHER ASSU

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