Homework Answers
a.
Estimated manufacturing overhead = $2,368,000
Estimated direct materials cost = $1,480,000
Predetermined overhead rate = Estimated manufacturing overhead / Estimated direct materials cost
= 2,368,000/1,480,000
= $1.6 per direct materials dollar
over applied to Job 0701 = Actual direct materials cost x Predetermined overhead rate
= 80,000 x 1.6
= $128,000
over applied to Job 0702 = Actual direct materials cost x Predetermined overhead rate
= 120,000 x 1.6
= $192,000
over applied to Job 0703 = Actual direct materials cost x Predetermined overhead rate
= 155,000 x 1.6
= $248,000
over applied to Job 0704 =Actual direct materials cost x Predetermined overhead rate
= 75,000 x 1.6
= 120,000
| Job 701 | $128,000 |
| Job 702 | $192,000 |
| Job 703 | $248,000 |
| Job 704 | $120,000 |
b.
| Job 701 | $128,000 |
| Job 702 | $192,000 |
| Job 703 | $248,000 |
| Job 704 | $120,000 |
| Total Overheads applied | $688,000 |
Actual manufacturing overhead cost = $2,500,000
Under applied manufacturing cost = Actual manufacturing overhead cost - Total Overheads applied
= 2,500,000-688,000
= $1,812,000
Kindly give a positive rating if you are satisfied with this solution and please ask if you have any query.
Thanks
Add Answer to:
Yarra Fabrication estimates that its manufacturing overhead will be $2.368.000 in year 1 It further estimates...
Yarra Fabrication estimates that its manufacturing overhead will be $2,361,600 in year 1. It further estimates...
Yarra Fabrication estimates that its manufacturing overhead will be $2,361,600 in year 1. It further estimates that direct material costs will amount to $1,476,000. Actual manufacturing overhead costs for the year were $2,495,000. Actual direct materials costs were $1,645,000. Manufacturing overhead is applied to jobs based on direct materials cost using predetermined rates. The total applied overhead for the year was $2,632,000 The balance in each of the inventory accounts is as follows. Work-in-process inventory Finished goods inventory Cost of...
Yarra Fabrication estimates that its manufacturing overhead will be $2,348,800 in year 1. It further estimates...
Yarra Fabrication estimates that its manufacturing overhead will be $2,348,800 in year 1. It further estimates that direct material costs will amount to $1,468,000. Actual manufacturing overhead costs for the year were $2,485,000. Actual direct materials costs were $1,635,000. Manufacturing overhead is applied to jobs based on direct materials cost using predetermined rates. The total applied overhead for the year was $2,616,000 The balance in each of the inventory accounts is as follows. Work-in-process inventory Finished goods inventory Cost of...
Please help with the following problem. Yarra Fabrication estimates that its manufacturing overhead will be $2,348,800...
Please help with the following problem.
Yarra Fabrication estimates that its manufacturing overhead will be $2,348,800 in year 1. It further estimates that direct material costs will amount to $1,468,000. Actual manufacturing overhead costs for the year were $2,485,000. Actual direct materials costs were $1,635.000. Manufacturing overhead is applied to jobs based direct materials cost using predetermined rates. Overhead applied in each of the inventory accounts is as follows. Work-in-process inventory Finished goods inventory Cost of goods sold $ 497,750...
Please explain in detail including the math Yarra Fabrication estimates that its manufacturing overhead will be...
Please explain in detail
including the math
Yarra Fabrication estimates that its manufacturing overhead will be $2,240,000 in year 1. It further estimates that direct material costs will amount to $1,400,000. Actual manufacturing overhead costs for the year were $2,400,000. Actual direct materials costs were $1,550,000. Manufacturing overhead is applied to jobs based direct materials cost using predetermined rates. Overhead applied in each of the inventory accounts is as follows. Work-in-process inventory Finished goods inventory Cost of goods sold $...
Southern Rim Parts estimates its manufacturing overhead to be $409,500 and its direct labor costs to...
Southern Rim Parts estimates its manufacturing overhead to be $409,500 and its direct labor costs to be $910,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $50,000 for Job 301, $75,000 for Job 302, and $100,000 for Job 303. For the year, actual manufacturing overhead was $474,000 and total direct labor cost was $849,000. Manufacturing overhead is applied to jobs on the basis of direct labor costs using predetermined rates....
Southern Rim Parts estimates its manufacturing overhead to be $400,000 and its direct labor costs to...
Southern Rim Parts estimates its manufacturing overhead to be $400,000 and its direct labor costs to be $1,000,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $59,000 for Job 301, $84,000 for Job 302, and $145,000 for Job 303. For the year, actual manufacturing overhead was $429,000 and total direct labor cost was $840,000. Manufacturing overhead is applied to jobs on the basis of direct labor costs using predetermined rates....
Southern Rim Parts estimates its manufacturing overhead to be $318,000 and its direct labor costs to...
Southern Rim Parts estimates its manufacturing overhead to be $318,000 and its direct labor costs to be $1,060,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $65,000 for Job 301, $90,000 for Job 302, and $175,000 for Job 303. For the year, actual manufacturing overhead was $399,000 and total direct labor cost was $834,000. Manufacturing overhead is applied to jobs on the basis of direct labor costs using predetermined rates....
Southern Rim Parts estimates its manufacturing overhead to be $472,500 and its direct labor costs to...
Southern Rim Parts estimates its manufacturing overhead to be $472,500 and its direct labor costs to be $1,050,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $64,000 for Job 301, $89,000 for Job 302, and $170,000 for Job 303. For the year, actual manufacturing overhead was $404,000 and total direct labor cost was $835,000. Manufacturing overhead is applied to jobs on the basis of direct labor costs using predetermined rates....
Southern Rim Parts estimates its manufacturing overhead to be $432,000 and its direct labor costs to...
Southern Rim Parts estimates its manufacturing overhead to be $432,000 and its direct labor costs to be $1,080,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $67,000 for Job 301, $92,000 for Job 302, and $185,000 for Job 303. For the year, actual manufacturing overhead was $389,000 and total direct labor cost was $832,000. Manufacturing overhead is applied to jobs on the basis of direct labor costs using predetermined rates....
Aspen Company estimates its manufacturing overhead to be $1,220,000 and its direct labor costs to be $610,000 for year...
Aspen Company estimates its manufacturing overhead to be $1,220,000 and its direct labor costs to be $610,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $182,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $307,000. Job 2-3, which is still in work- in-process inventory, had actual direct labor costs of $132,000....
Yarra Fabrication estimates that its manufacturing overhead will be $2,361,600 in year 1. It further estimates that direct material costs will amount to $1,476,000. Actual manufacturing overhead costs for the year were $2,495,000. Actual direct materials costs were $1,645,000. Manufacturing overhead is applied to jobs based on direct materials cost using predetermined rates. The total applied overhead for the year was $2,632,000 The balance in each of the inventory accounts is as follows. Work-in-process inventory Finished goods inventory Cost of...
Yarra Fabrication estimates that its manufacturing overhead will be $2,348,800 in year 1. It further estimates that direct material costs will amount to $1,468,000. Actual manufacturing overhead costs for the year were $2,485,000. Actual direct materials costs were $1,635,000. Manufacturing overhead is applied to jobs based on direct materials cost using predetermined rates. The total applied overhead for the year was $2,616,000 The balance in each of the inventory accounts is as follows. Work-in-process inventory Finished goods inventory Cost of...
Please help with the following problem.
Yarra Fabrication estimates that its manufacturing overhead will be $2,348,800 in year 1. It further estimates that direct material costs will amount to $1,468,000. Actual manufacturing overhead costs for the year were $2,485,000. Actual direct materials costs were $1,635.000. Manufacturing overhead is applied to jobs based direct materials cost using predetermined rates. Overhead applied in each of the inventory accounts is as follows. Work-in-process inventory Finished goods inventory Cost of goods sold $ 497,750...
Please explain in detail
including the math
Yarra Fabrication estimates that its manufacturing overhead will be $2,240,000 in year 1. It further estimates that direct material costs will amount to $1,400,000. Actual manufacturing overhead costs for the year were $2,400,000. Actual direct materials costs were $1,550,000. Manufacturing overhead is applied to jobs based direct materials cost using predetermined rates. Overhead applied in each of the inventory accounts is as follows. Work-in-process inventory Finished goods inventory Cost of goods sold $...
Southern Rim Parts estimates its manufacturing overhead to be $409,500 and its direct labor costs to be $910,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $50,000 for Job 301, $75,000 for Job 302, and $100,000 for Job 303. For the year, actual manufacturing overhead was $474,000 and total direct labor cost was $849,000. Manufacturing overhead is applied to jobs on the basis of direct labor costs using predetermined rates....
Southern Rim Parts estimates its manufacturing overhead to be $400,000 and its direct labor costs to be $1,000,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $59,000 for Job 301, $84,000 for Job 302, and $145,000 for Job 303. For the year, actual manufacturing overhead was $429,000 and total direct labor cost was $840,000. Manufacturing overhead is applied to jobs on the basis of direct labor costs using predetermined rates....
Southern Rim Parts estimates its manufacturing overhead to be $472,500 and its direct labor costs to be $1,050,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $64,000 for Job 301, $89,000 for Job 302, and $170,000 for Job 303. For the year, actual manufacturing overhead was $404,000 and total direct labor cost was $835,000. Manufacturing overhead is applied to jobs on the basis of direct labor costs using predetermined rates....
Southern Rim Parts estimates its manufacturing overhead to be $432,000 and its direct labor costs to be $1,080,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $67,000 for Job 301, $92,000 for Job 302, and $185,000 for Job 303. For the year, actual manufacturing overhead was $389,000 and total direct labor cost was $832,000. Manufacturing overhead is applied to jobs on the basis of direct labor costs using predetermined rates....
Aspen Company estimates its manufacturing overhead to be $1,220,000 and its direct labor costs to be $610,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $182,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $307,000. Job 2-3, which is still in work- in-process inventory, had actual direct labor costs of $132,000....
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 10 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 10 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 10 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 10 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 10 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 10 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 10 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 10 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 10 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 10 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 10 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 10 months ago