Homework Help Question & Answers

Moscone Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 78,000 labor-hours. The esti

Moscone Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming

year. At the beginning of the most recently completed year, the company estimated the labor-hours for the

upcoming year at 78,000 labor-hours. The estimated variable manufacturing overhead was $9.99 per labor-hour

and the estimated total fixed manufacturing overhead was $985,920. The actual manufacturing overhead for the

year was $1,812,700 and the company’s direct labor workers worked a total of 80,000 labor-hours.

Required:

1. Compute the company's predetermined overhead rate.

2. Compute the amount of manufacturing overhead applied.

3. Is manufacturing overhead overapplied or underapplied? By how much?

4. Prepare the journal entry to close the overapplied or underapplied overhead to Cost of Goods Sold.Screen Shot 2021-05-04 at 2.22.00 PM.png

0 0
Add a comment
Answer

This Homework Help Question: "Moscone Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 78,000 labor-hours. The esti" No answers yet.

Be the First!

Request Answer

Request answer!

We need 10 more requests to produce the answer to this homework help question. Share with your friends to get the answer faster!

0 /10 have requested the answer to this homework help question.

Request! (Login Required) Share with friends


Once 10 people have made a request, the answer to this question will be available in 1-2 days.
All students who have requested the answer will be notified once they are available.
Know the answer?
Add Answer to:
Moscone Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 78,000 labor-hours. The esti
Your Answer:

Post as a guest

Your Name:
What's your source?

Earn Coin

Coins can be redeemed for fabulous gifts.

Similar Homework Help Questions
  • Moscone Corporation

    PROBLEM 2 (12 points)Moscone Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcomingyear. At the beginning of the most recently completed year, the company estimated the labor-hours for theupcoming year at 78,000 labor-hours. The estimated variable manufacturing overhead was $9.99 per labor-hourand the estimated total fixed manufacturing overhead was $985,920. The actual manufacturing overhead for theyear was $1,812,700 and the company’s direct labor workers worked a total of 80,000 labor-hours.Required:1. Compute the company's predetermined overhead rate.2....

  • Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At...

    Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 61,000 labor-hours. The estimated variable manufacturing overhead was $11.00 per labor-hour and the estimated total fixed manufacturing overhead was $1.159,000. The actual labor-hours for the year turned out to be 64.600 labor-hours. Required: Compute the company's predetermined overhead rate for the recently completed year. (Round your...

  • Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At...

    Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 63,000 labor-hours. The estimated variable manufacturing overhead was $12.00 per labor-hour and the estimated total fixed manufacturing overhead was $1,134,000. The actual labor-hours for the year turned out to be 65,900 labor-hours. Required: Compute the company's predetermined overhead rate for the recently completed year. (Round your...

  • Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At...

    Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 73,000 labor-hours. The estimated variable manufacturing overhead was $8.00 per labor-hour and the estimated total fixed manufacturing overhead was $1,204,500. The actual labor-hours for the year turned out to be 75,400 labor-hours. Required: Compute the company's predetermined overhead rate for the recently completed year. (Round your...

  • Henkes Corporation bases its predetermined overhead rate on the estimated labor hours for the upcoming year....

    Henkes Corporation bases its predetermined overhead rate on the estimated labor hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 75,000 labor hours. The estimated variable manufacturing overhead was $10.70 per labor-hour and the estimated total fixed manufacturing overhead was $1.237.500. The actual labor-hours for the year turned out to be 78,100 labor hours. Required: Compute the company's predetermined overhead rate for the recently completed...

  • Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At...

    Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 52,000 labor hours. The estimated variable manufacturing overhead was $9.30 per labor-hour and the estimated total fixed manufacturing overhead was $858,000. The actual labor-hours for the year turned out to be 55,800 labor-hours Required: Compute the company's predetermined overhead rate for the recently completed year. (Round...

  • Longobardi Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At...

    Longobardi Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the Corporation estimated the labor-hours for the upcoming year at 35,600 labor-hours. The estimated variable manufacturing overhead was $6.76 per labor-hour and the estimated total fixed manufacturing overhead was $906,732. The actual labor-hours for the year turned out to be 32,000 labor-hours. The predetermined overhead rate for the recently completed year was closest to:

  • Longobardi Corporation bases its predetermined overhead rate on the estimated labor hours for the upcoming year....

    Longobardi Corporation bases its predetermined overhead rate on the estimated labor hours for the upcoming year. At the beginning of the most recently completed year, the Corporation estimated the labor hours for the upcoming year at 30,700 labor-hours. The estimated variable manufacturing overhead was $5.09 per labor-hour and the estimated total fixed manufacturing overhead was $724,827. The actual labor hours for the year turned out to be 27,300 labor-hours. The predetermined overhead rate for the recently completed year was closest...

  • Longobardi Corporation bases its predetermined overhead rate on the estimated tabor-hours for the upcoming year. At...

    Longobardi Corporation bases its predetermined overhead rate on the estimated tabor-hours for the upcoming year. At the beginning of the most recently completed year, the Corporation estimated the labor-hours for the upcoming year at 33,500 lobor-hours. The estimated variable manufacturing overhead was $6.37 per labor hour and the estimated total fixed manufacturing overhead was $850,900. The actual labor. hours for the year turned out to be 30,100 labor-hours. The predetermined overhead rate for the recently completed year was closest to:...

  • Sally Corporation bases its predetermined overhead rate on the estimated machine- hours for the upcoming year....

    Sally Corporation bases its predetermined overhead rate on the estimated machine- hours for the upcoming year. At the beginning of the most recently completed year, the Corporation estimated the machine-hours for the upcoming year at 10,000 machine-hours. The estimated variable manufacturing overhead was $6.82 per machine-hour and the estimated total fixed manufacturing overhead was $230,200. Sally Corporation actual manufactured overhead cost was $304,800 and it is actual machine hours was 11,000 hours. What is predetermined overhead rate for Sally Corporation?...

Free Homework 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.