At the beginning of the accounting period, AAA companies estimated $ 430,000 of indirect costs and...
At the beginning of the accounting period, AAA companies estimated $ 430,000 of indirect costs and 20,000 hours of direct labor. Indirect costs are allocated to production based on direct labor hours.
On February 10, order # 50 was completed with $ 5,300 of direct materials and $ 3,910 of direct labor at a rate of $ 27.19 / hour.
Determine the total indirect costs allocated (applied) to order # 50.
Present your answer without using commas and rounding to the nearest unit = no decimal points (for example 7,315.12 = 7315).
Homework Answers
| Direct labor cost(a) | 3910 | |
| Rate/ hour(b) | 27.19 | |
| Hours(a/b) | 143.8029 | |
| Estimated indirect cost | 430000 | |
| Direct labour hours | 20000 | |
| Indirect cost | (430000/20000)* 143.8029 | |
| 3091.762 | ||
| or | ||
| Allocated indirect cost is | 3092 | |
Add Answer to:
At the beginning of the accounting period, AAA companies
estimated $ 430,000 of indirect costs and...
Financial Planning Partners Inc., employs 12 full-time CPAs and 10 paraprofessionals. Direct and indirect costs are...
Financial Planning Partners Inc., employs 12 full-time CPAs and 10 paraprofessionals. Direct and indirect costs are applied on a professional labor-hour basis that includes both attorney and paraprofessional hours. Following is information for 2018: Budget $300,000 Actual $309,000 $118,000 $128.000 Indirect costs Annual salary of each attorney Annual salary of each paraprofessional Total professional labor- hours $31,500 $32,500 50,000 dlh 56,000 din When using a normal costing system, year-end accounting records will show that indirect costs are Select one: A....
Candle Corp. applies manufacturing overhead costs to products at a budgeted indirect - cost rate of...
Candle Corp. applies manufacturing overhead costs to products at a budgeted indirect - cost rate of $95 per direct manufacturing labor-hour. A retail outlet has requested a bid on a special order of a necklace. Estimates for this order include: Direct materials of $44,000; 250 direct manufacturing labor - hours at $30 per hour, and a 50% markup rate on total manufacturing costs. The bid price for this special order is O A. $77.250 B. $101,625 c. $60,250 OD. $112,875
Financial Planning Partners Inc., employs 12 full−time CPAs and 10 paraprofessionals. Direct and indirect costs are...
Financial Planning Partners Inc., employs 12 full−time CPAs and 10 paraprofessionals. Direct and indirect costs are applied on a professional labor−hour basis that includes both attorney and paraprofessional hours. Following is information for 2018: Budget Actual Indirect costs $270,000 $295,000 Annual salary of each attorney $106,000 $116,000 Annual salary of each paraprofessional $34,500 $35,500 Total professional labor−hours 50,000 dlh 60,000 dlh When using a normal costing system, year−endaccounting records will show that indirect costs are ________. A.within budget B.underallocated C.perfectly...
company has the following estimated costs for 2014 Direct materials &
company has the following estimated costs for 2014 Direct materials 25,000 Advertising expense 15,000 Rent on factory building 13,000 Rent on office building 8,000 Direct labor 22,000 Depreciation on factory equipment 6,000 Indirect materials 10,000 Sales salaries 28,000 Insurance on factory equipment 12,000 Indirect labor 5,000 Property taxes on factory building 10,000 Property taxes on office building 10,000 company estimates that 32,000 direct labor hours and 20,000 machine hours will be worked during...
Manufacturing overhead costs incurred: Indirect materials $15,000 Indirect labor 130,000 Property taxes, factory 8,000 Utilities, factory...
Manufacturing overhead costs incurred: Indirect materials $15,000 Indirect labor 130,000 Property taxes, factory 8,000 Utilities, factory 70,000 Depreciation, factory 240,000 Insurance, factory 10,000 Total actual manufacturing overhead costs incurred $473,000 Other costs incurred: Purchases of raw materials (both direct and indirect) $400,000 Direct labor cost $60,000 Inventories: Raw materials, beginning $20,000 Raw materials, ending $30,000 Work in process, beginning $20,000 Work in process, ending $70,000 The company uses a predetermined overhead rate of $25 per machine-hour to apply overhead...
Sheridan Company estimates that annual manufacturing overhead costs will be $902,000. Estimated annual operating activity bases...
Sheridan Company estimates that annual manufacturing overhead costs will be $902,000. Estimated annual operating activity bases are direct labor cost $400,000, direct labor hours 40,000, and machine hours 100,000. Compute the predetermined overhead rate for each activity base. (Round answers to 2 decimal places, eg. 10.50) Overhead rate per direct labor cost Overhead rate per direct labor hour $ Overhead rate per machine hour Coronado Company uses a job order cost system and applies overhead to production on the basis...
This is for my Managerial Accounting class. I need to complete the Job Order Costing journal...
This is for my Managerial Accounting class. I need to complete the
Job Order Costing journal entries... Please disregard my notes. I
need help/answers. Thank you in advance!
*GO for Est OH Cost + hours-amt ins text to Graded Problems Problems * Figure out amt overneod & apply it Job Order Costing (15 pts.) est. The Fantasy Company started four jobs last month. All of the jobs were started, Jobs 1010, 1012, and 1013 were completed and Jobs 1010 and...
An advertising agency is estimating costs for advertising a music festival. The job will require 200...
An advertising agency is estimating costs for advertising a music festival. The job will require 200 direct labor hours at a cost of $50 per hour. Overhead costs are applied at a rate of $65 per direct labor hour. What is the total estimated cost for this job? JOB COST SHEET Hours Rate Estimated Cost Materials 0.00 Total estimated cost Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw...
Sample Questions Relating to Job-Order Costing Assume that at the beginning of the year a...
Sample Questions Relating to Job-Order Costing Assume that at the beginning of the year a firm estimates its overhead costs at $400,000. The firm plans to use job order costing and will use direct labor hours as its base. Direct labor hours for the year were estimated at 200,000. At the end of the year the firm was under-allocated by $20,000 based on 208,000 actual direct labor hours. What is the actual total overhead cost? Cox Company uses...
1) The Walden Manufacturing Corp. has office support salaries of $5,200, factory supplies of $2,300, indirect...
1) The Walden Manufacturing Corp. has office support salaries of $5,200, factory supplies of $2,300, indirect labor of $7,300, direct materials of $17,300, advertising expense of $3,800, office expense of $14,600, and direct labor of $21,600. What is the total period cost? 2) Jordan Sports Inc. has labor costs and overhead totaling $1.6 million during a given period. The company purchased $9.5 million of materials during the period and used $8.8 million of this amount. What is the amount of...
Financial Planning Partners Inc., employs 12 full-time CPAs and 10 paraprofessionals. Direct and indirect costs are applied on a professional labor-hour basis that includes both attorney and paraprofessional hours. Following is information for 2018: Budget $300,000 Actual $309,000 $118,000 $128.000 Indirect costs Annual salary of each attorney Annual salary of each paraprofessional Total professional labor- hours $31,500 $32,500 50,000 dlh 56,000 din When using a normal costing system, year-end accounting records will show that indirect costs are Select one: A....
Candle Corp. applies manufacturing overhead costs to products at a budgeted indirect - cost rate of $95 per direct manufacturing labor-hour. A retail outlet has requested a bid on a special order of a necklace. Estimates for this order include: Direct materials of $44,000; 250 direct manufacturing labor - hours at $30 per hour, and a 50% markup rate on total manufacturing costs. The bid price for this special order is O A. $77.250 B. $101,625 c. $60,250 OD. $112,875
Sheridan Company estimates that annual manufacturing overhead costs will be $902,000. Estimated annual operating activity bases are direct labor cost $400,000, direct labor hours 40,000, and machine hours 100,000. Compute the predetermined overhead rate for each activity base. (Round answers to 2 decimal places, eg. 10.50) Overhead rate per direct labor cost Overhead rate per direct labor hour $ Overhead rate per machine hour Coronado Company uses a job order cost system and applies overhead to production on the basis...
This is for my Managerial Accounting class. I need to complete the
Job Order Costing journal entries... Please disregard my notes. I
need help/answers. Thank you in advance!
*GO for Est OH Cost + hours-amt ins text to Graded Problems Problems * Figure out amt overneod & apply it Job Order Costing (15 pts.) est. The Fantasy Company started four jobs last month. All of the jobs were started, Jobs 1010, 1012, and 1013 were completed and Jobs 1010 and...
An advertising agency is estimating costs for advertising a music festival. The job will require 200 direct labor hours at a cost of $50 per hour. Overhead costs are applied at a rate of $65 per direct labor hour. What is the total estimated cost for this job? JOB COST SHEET Hours Rate Estimated Cost Materials 0.00 Total estimated cost Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 11 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 11 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 11 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 11 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 11 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 11 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 11 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 11 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 11 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 11 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 11 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 11 months ago