HomeworkLib
Question

Tex Corp has the following budgeted data: MFG Overhead: $380,000 MACH HRS (Driver) are as follows:...

Tex Corp has the following budgeted data:

MFG Overhead: $380,000

MACH HRS (Driver) are as follows:

Job 10: 10,4000

Job 11: 7,800

Job 12: 18,200

Job 13: 15,600

Jobs 10, 11 & 12 were finished. Job 10 was sold. Assume actual total overhead = $392,000. What is actual overhead in finished goods?

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Perdetermined Overhead Rate Budgeted Overhead/Machine Hours Manufacturing Overhead = $ 380000 Particular Machine Hours Job 10 Job 11 Job 12 Job 13 Total 104000 7800 18200 15600 145600 Perdetermined Overhead rate $3 80000/145600 $2.6 per machine Hour Calculation of Actual Overhead in Finished goods Job 11 7800*$ 2.6 20,357 Job 12 -18200* $2.6 47,500 Total 67,857

0 0
Add a comment
Know the answer?
Add Answer to:
Tex Corp has the following budgeted data: MFG Overhead: $380,000 MACH HRS (Driver) are as follows:...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • 1) TEX CORP HAS THE FOLLOWING BUDGETED DATA: MFG OVERHEAD $380,000 MACH HRS(DRIVER) 50,000 ACTUAL MACH...

    1) TEX CORP HAS THE FOLLOWING BUDGETED DATA: MFG OVERHEAD $380,000 MACH HRS(DRIVER) 50,000 ACTUAL MACH HRS ARE AS FOLLOWS: JOB 10 10,400 JOB 11 7,800 JOB 12 18,200 JOB 13 15,600 JOB 10,11&12 WERE FINISHED. JOB 10 WAS SOLD. WHAT IS OVERHEAD APPLIED IN COGS? REFER TO QUESTION 1. ASSUME ACTUAL TOTAL OVERHEAD = $392,000. WHAT IS ACTUAL OVERHEAD IN FINISHED GOODS? ACTUAL OVERHEAD FINISHED GOODS?

  • Tex Corp has the following budgeted data: MFG Overhead: $380,000 MACH HRS (Driver) are as follows:...

    Tex Corp has the following budgeted data: MFG Overhead: $380,000 MACH HRS (Driver) are as follows: Job 10: 10,4000 Job 11: 7,800 Job 12: 18,200 Job 13: 15,600 Jobs 10, 11 & 12 were finished. Job 10 was sold. What is overhead applied in COGS?

  • 1) XYZ CORP HAS THE FOLLOWING DATA: $112,000 32,000 BUDGETED OVERHEAD BUDGETED MACHINE HOURS (DRIVER) ACTUAL...

    1) XYZ CORP HAS THE FOLLOWING DATA: $112,000 32,000 BUDGETED OVERHEAD BUDGETED MACHINE HOURS (DRIVER) ACTUAL MACHINE HOURS: JOB 17 JOB 18 JOB 19 JOB 20 8,250 6,600 9,900 8,250 JOBS 17. 18 & 19 WERE FINISHED. JOB 19 WAS SOLD. TOTAL ACTUAL OVERHEAD = $115,800. WHAT IS ACTUAL OVERHEAD IN FG? ACTUAL OVERHEAD FG

  • At the beginning of the year, Custom Mfg. established its predetermined overhead rate by using the...

    At the beginning of the year, Custom Mfg. established its predetermined overhead rate by using the following cost predictions: overhead costs, $360,000, and direct materials costs, $200,000. At year-end, the company’s records show that actual overhead costs for the year are $937,800. Actual direct materials cost had been assigned to jobs as follows. Jobs completed and sold $ 380,000 Jobs in finished goods inventory 76,000 Jobs in work in process inventory 60,000 Total actual direct materials cost $ 516,000 1....

  • Job Costs Using a Plantwide Overhead Rate Naranjo Company designs industrial prototypes for outside companies. Budgeted...

    Job Costs Using a Plantwide Overhead Rate Naranjo Company designs industrial prototypes for outside companies. Budgeted overhead for the year was $180,000, and budgeted direct labor hours were 18,000. The average wage rate for direct labor is expected to be $20 per hour. During June, Naranjo Company worked on four jobs. Data relating to these four jobs follow: Job 39 Job 40 Job 41 Job 42 Beginning balance $26,600 $34,200 $15,600 $1,700 Materials requisitioned 16,700 23,400 10,800 12,100 Direct labor...

  • The Film Company uses a job-order costing system. The following information pertains to the company's activities...

    The Film Company uses a job-order costing system. The following information pertains to the company's activities for the month of December: On December 1, the company had two jobs in work in process as follows: Job 6 $20,000 and Job 8 $14,000 On December 1, the company had job in Finished Goods as follows: Job 10 $50,000 Jobs 12 and 13 were started during the month. Materials were purchased on account in December for $54,000 Materials were requisitioned for use...

  • The Film Company uses a job-order costing system. The following information pertains to the company's activities...

    The Film Company uses a job-order costing system. The following information pertains to the company's activities for the month of December: On December 1, the company had two jobs in work in process as follows: Job 6 $20,000 and Job 8 $14,000 On December 1, the company had job in Finished Goods as follows: Job 10 $50,000 Jobs 12 and 13 were started during the month. Materials were purchased on account in December for $54,000 Materials were requisitioned for use...

  • The Film Company uses a job-order costing system. The following information pertains to the company's activities...

    The Film Company uses a job-order costing system. The following information pertains to the company's activities for the month of December: On December 1, the company had two jobs in work in process as follows: Job 6 $20,000 and Job 8 $14,000 On December 1, the company had job in Finished Goods as follows: Job 10 $50,000 Jobs 12 and 13 were started during the month. Materials were purchased on account in December for $54,000 Materials were requisitioned for use...

  • The Film Company uses a job-order costing system. The following information pertains to the company's activities...

    The Film Company uses a job-order costing system. The following information pertains to the company's activities for the month of December: On December 1, the company had two jobs in work in process as follows: Job 6 $20,000 and Job 8 $14,000 On December 1, the company had job in Finished Goods as follows: Job 10 $50,000 Jobs 12 and 13 were started during the month. Materials were purchased on account in December for $54,000 Materials were requisitioned for use...

  • The Film Company uses a job-order costing system. The following information pertains to the company's activities...

    The Film Company uses a job-order costing system. The following information pertains to the company's activities for the month of December: On December 1, the company had two jobs in work in process as follows: Job 6 $20,000 and Job 8 $14,000 On December 1, the company had job in Finished Goods as follows: Job 10 $50,000 Jobs 12 and 13 were started during the month. A. Materials were purchased on account in December for $54,000 B. Materials were requisitioned...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT