Homework Answers
| 16 | |
| Budgeted overhead | 450000 |
| Divide by Budgeted direct labor hours | 50000 |
| Predetermined overhead rate | 9 |
| Actual direct labor hours | 75000 |
| X Predetermined overhead rate | 9 |
| Amount of applied overhead | 675000 |
| Option D $675,000 is correct | |
| 17 | |
| Applied overhead | 487500 |
| Divide by Actual macine hours | 25000 |
| Predetermined overhead rate | 19.5 |
| Budgeted machine hours | 27500 |
| X Predetermined overhead rate | 19.5 |
| Budgeted overhead | 536250 |
| Option D $536,250 is correct |
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16) The following information is provided by Zinger Corporation for the year: Actual direct labor hours...
16) The following information is provided by Zinger Corporation for the year: Actual direct labor hours...
16) The following information is provided by Zinger Corporation for the year: Actual direct labor hours worked 75,000 Budgeted overhead $ 450,000 Budgeted direct labor hours 50,000 Actual overhead costs incurred $ 550,000 о If normal costing is used, the amount of applied overhead for the year is: a) $ 550,000 b) $ 300,000 c) $ 450,000 d) $ 675,000 Answer: _(4 points)
17) The following information is provided by the Sutton Corporation for the year: Actual Overhead $...
17) The following information is provided by the Sutton Corporation for the year: Actual Overhead $ 450,000 Actual machine hours worked 25,000 Budgeted machine hours 27,500 Applied overhead $ 487,500 If normal costing is used, budgeted overhead used to calculate the predetermined rate would be: a) S 443,250. b) $ 450,000 c) $ 487,500 d) $ 536,250. Answer: (5 points)
The use of unit-based activity drivers to assign costs can result in significant cost distortions only...
The use of unit-based activity drivers to assign costs can result in significant cost distortions only if: a direct material costs are a small percentage of total manufacturing costs. b. direct material costs are a significant percentage of total manufacturing costs. c. overhead costs are a significant percentage of total manufacturing costs. d. overhead costs are a small percentage of total manufacturing costs. The following information is provided by Zinger Corporation for the year: Actual direct labor hours worked Budgeted...
18) Figure 4-2 (4pts) The following information is provided by the Sandman Corporation for the year:...
18) Figure 4-2 (4pts) The following information is provided by the Sandman Corporation for the year: 46,000 Actual direct labor hours worked $300,000 Budgeted overhead Budgeted direct labor hours 30,000 Actual overhead costs incurred $460,000 Refer to Figure 4-2. If normal costing is used, the amount of overhead applied for the year is O $480,000. $400,000 $414,000. $460,000.
Amy Corporation, which applies manufacturing overhead on the basis of direct labor hours, has provided the...
Amy Corporation, which applies manufacturing overhead on the basis of direct labor hours, has provided the following data for its most recent year of operations. Estimated manufacturing overhead Estimated direct labor hours Actual manufacturing overhead Actual direct labor hours $80,080 1,100 $76,800 1,060 The estimates of the manufacturing overhead and of direct labor hours were made at the beginning of the year. The applied manufacturing overhead for the year is closest to Multiple Choke $75,089 0 $77,168 576.800 $76.450 Magnolia...
Johnson Company used a normal costing system during 2019 with direct labor hours as the cost...
Johnson Company used a normal costing system during 2019 with direct labor hours as the cost of driver used for the applying overhead. At the beginning of 2019 manufacturing overhead was budegeted to be $500000. Johnson also budgeted 20000 labour hours. Actuall overhead for the year was $480,000 and the actual number of lobor hours worked was 22000. Determine the dollar amount of everapplied or underapplied manufacturing overhead for 2020. Determine the dollar amount of overapplied or underapplied manufacturing overhead...
Actual and estimated data for manufacturing overhead, direct labor cost, direct labor hours, and machine hours...
Actual and estimated data for manufacturing overhead, direct labor cost, direct labor hours, and machine hours for the most recent fiscal year are summarized here: Manufacturing overhead cost Direct labor cost Direct labor hours Machine hours Estimated Value $ 599,000 $ 401.000 17,000 hours 8.000 hours Actual Value $ 660.000 $ 455,000 18.500 hours 9.000 hours Required: 1. Based on the company's current allocation base (direct labor hours), compute the following: a. Predetermined overhead rate. (Round your answer to 2...
Data section Manufacturing overhead cost Direct labor cost Direct labor hours Machine hours Estimated value Actual...
Data section Manufacturing overhead cost Direct labor cost Direct labor hours Machine hours Estimated value Actual value 594,000 $ 396,000 $ 16,500 7,500 655,000 450,000 18,000 8,500 Requirement 1: Predetermined overhead rate Formula Manufacturing overhead cost/ direct labor hours Answer Applied manufacturing overhead: Formula Answer Under or over applied? Dollar amount? Requirement 2: Predetermined overhead rate Formula Answer Carry answer out to two decimal places Applied manufactring overhead Formula Answer Under or over applied? Dollar amount? Requirement 3: Predetermined overhead...
Blanket Corporation applies manufacturing overhead on the basis of direct labor hours. At the beginning of...
Blanket Corporation applies manufacturing overhead on the basis of direct labor hours. At the beginning of the most recent year, the company bases its predetermined overhead rate on the total estimated overhead of $450,000 and 75,000 estimated machine hours. Actual manufacturing overhead for the year amounted to $460,000 and actual machine hours were 80,000. Assuming that the entire amount of the underapplied or overapplied overhead is closed out to cost of goods sold, what would be the effect of the...
6. Mattie Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following...
6. Mattie Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its year 2019 operations: Estimated manufacturing overhead Estimated machine-hours Actual manufacturing overhead Actual machine hours $239,500 4,500 $241,900 5,500 Use the data to answer the following questions (8a - d). a. The predetermined overhead rate would be normal costing): b. The applied manufacturing overhead for the year is (normal costing): c. Was the overhead for the year over applied or under applied?...
16) The following information is provided by Zinger Corporation for the year: Actual direct labor hours worked 75,000 Budgeted overhead $ 450,000 Budgeted direct labor hours 50,000 Actual overhead costs incurred $ 550,000 о If normal costing is used, the amount of applied overhead for the year is: a) $ 550,000 b) $ 300,000 c) $ 450,000 d) $ 675,000 Answer: _(4 points)
17) The following information is provided by the Sutton Corporation for the year: Actual Overhead $ 450,000 Actual machine hours worked 25,000 Budgeted machine hours 27,500 Applied overhead $ 487,500 If normal costing is used, budgeted overhead used to calculate the predetermined rate would be: a) S 443,250. b) $ 450,000 c) $ 487,500 d) $ 536,250. Answer: (5 points)
The use of unit-based activity drivers to assign costs can result in significant cost distortions only if: a direct material costs are a small percentage of total manufacturing costs. b. direct material costs are a significant percentage of total manufacturing costs. c. overhead costs are a significant percentage of total manufacturing costs. d. overhead costs are a small percentage of total manufacturing costs. The following information is provided by Zinger Corporation for the year: Actual direct labor hours worked Budgeted...
18) Figure 4-2 (4pts) The following information is provided by the Sandman Corporation for the year: 46,000 Actual direct labor hours worked $300,000 Budgeted overhead Budgeted direct labor hours 30,000 Actual overhead costs incurred $460,000 Refer to Figure 4-2. If normal costing is used, the amount of overhead applied for the year is O $480,000. $400,000 $414,000. $460,000.
Amy Corporation, which applies manufacturing overhead on the basis of direct labor hours, has provided the following data for its most recent year of operations. Estimated manufacturing overhead Estimated direct labor hours Actual manufacturing overhead Actual direct labor hours $80,080 1,100 $76,800 1,060 The estimates of the manufacturing overhead and of direct labor hours were made at the beginning of the year. The applied manufacturing overhead for the year is closest to Multiple Choke $75,089 0 $77,168 576.800 $76.450 Magnolia...
Actual and estimated data for manufacturing overhead, direct labor cost, direct labor hours, and machine hours for the most recent fiscal year are summarized here: Manufacturing overhead cost Direct labor cost Direct labor hours Machine hours Estimated Value $ 599,000 $ 401.000 17,000 hours 8.000 hours Actual Value $ 660.000 $ 455,000 18.500 hours 9.000 hours Required: 1. Based on the company's current allocation base (direct labor hours), compute the following: a. Predetermined overhead rate. (Round your answer to 2...
Data section Manufacturing overhead cost Direct labor cost Direct labor hours Machine hours Estimated value Actual value 594,000 $ 396,000 $ 16,500 7,500 655,000 450,000 18,000 8,500 Requirement 1: Predetermined overhead rate Formula Manufacturing overhead cost/ direct labor hours Answer Applied manufacturing overhead: Formula Answer Under or over applied? Dollar amount? Requirement 2: Predetermined overhead rate Formula Answer Carry answer out to two decimal places Applied manufactring overhead Formula Answer Under or over applied? Dollar amount? Requirement 3: Predetermined overhead...
6. Mattie Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its year 2019 operations: Estimated manufacturing overhead Estimated machine-hours Actual manufacturing overhead Actual machine hours $239,500 4,500 $241,900 5,500 Use the data to answer the following questions (8a - d). a. The predetermined overhead rate would be normal costing): b. The applied manufacturing overhead for the year is (normal costing): c. Was the overhead for the year over applied or under applied?...
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