17. Carolina Co. applies overhead to jobs at the rate of 40 percent of direct labor cost. Direct material of $1,250 and direct labor of $1,400 were expended on Job # 44 during June. At May 31, the balance of Job # 44 was $2,800. The June 30th balance is $3,210. d. a. b. $4,760. C. $5,450. $6,010.
Q: During August, Rothchild Company accumulated 3,500 hours of direct labor costs on Job 40 and 4,200…
A:
Q: A Company, which applies overhead at the rate of 170% of direct material cost, began work on job no.…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: Cavy Company estimates that total factory overhead costs will be $747,937 for the year. Direct labor…
A: Overhead means the cost incurred indirect in factory for the production of goods. Manufacturing…
Q: At the beginning of the year, a company predicts total overhead costs of $560,000. The company…
A: Formula: Applied Overhead = Total Overhead cost x ( Machine hours in the month of January / Total…
Q: Docie Company, which applies overhead at the rate of 190% of direct material cost, began work on job…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: Bedok Co. Ltd, which absorbs overhead at the rate of 190% of direct materials cost, began work on…
A: Overheads are the indirect costs of manufacturing a product. Overheads include cost of…
Q: Lockmiller Company estimates that total factory overhead costs will be $867,000 for the year. Direct…
A: Predetermined overhead rate = Total estimated factory overhead costs / total estimated Direct labor…
Q: Company XYZ applies overhead cost to jobs on the basis of direct labor cost. Job A, which was…
A: Using information from Job A Calculation of basis of applying overheads on the basis of labor hours:…
Q: 6. Darrow Company uses a predetermined overhead rate based on direct labor-hours to apply…
A: Predetermined Overhead rate = Estimated Total OverheadsEstimated Units of Allocation Base…
Q: Ali Construction has two jobs in July, Jobs N75 and N76. Overhead is applied at a rate of $25,00 per…
A: Gross profit refers to deduction of cost of goods sold from the value of net sales.
Q: the total overhead applied to job no. 101 amounted to:
A: Given information is: Dixie Company, which applies overhead at the rate of 160% of direct material…
Q: Company XYZ applies overhead cost to jobs on the basis of direct labor cost. Job A, which was…
A: In this numerical has covered the concept of Overhead measurement .
Q: 29) Armour, Inc., an advertising agency, applies overhead to jobs on the basis of direct…
A: Predetermined overhead rate = Estimated overhead / Estimated Direct Labor hours Overhead applied =…
Q: 29) Armour, Inc., an advertising agency, applies overhead to jobs on the basis of direct…
A: Overhead is known as the ongoing business expenditures which are not directly associated with…
Q: 29. Trenton worked on four jobs during its first year of operation: nos. 401, 402, 403, and 404. A…
A: When we add up all the direct costs and manufacturing overhead, we get manufacturing cost. Direct…
Q: Company XYZ applies overhead cost to jobs on the basis of direct labor cost. Job A, which was…
A: Manufacturing cost is often classified as under: Direct Materials Direct Labor Manufacturing…
Q: - company estimated 100,000 direct labor hours and $600,000 in overhead. The actual overhead was…
A:
Q: Dale Company, which applies overhead at the rate of 190% of direct labor cost, began work on job no.…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: Dixie Company, which applies overhead at the rate of 190% of direct material cost, began work on job…
A: Overhead costs are the indirect costs incurred in the manufacturing of products like indirect…
Q: Salinger Company estimates that total factory overhead costs will be $78,000 for the year. Direct…
A: a. Predetermined Factory Overhead Rate = Total Factory Overhead Costs/ Direct Labour Hours = $78,000…
Q: Boyle Manufacturing Co. charges factory overhead to production at 70% of direct labor cost. Jobs 901…
A: Direct labor costs are the costs that are incurred in the process of manufacturing in the factory.
Q: Bedok Co. Ltd, which absorbs overhead at the rate of 190% of direct materials cost, began work on…
A: Job costing is used to estimate the total cost of a specific job. The overhead applied are…
Q: 1. For KnightRider Company, the predetermined overhead rate is 150% of direct labor cost. During the…
A: Manufacturing Overheads:- Manufacturing overheads includes all the indirect cost that is incurred at…
Q: Boone Manufacturing had worked on two jobs, Job 101 and Job 102 last year. The estimated…
A: The spending variance is similar to direct labor cost variance.
Q: Help8
A: Overhead: Overhead cost means expenses referred to indirect cost. The overhead cost like rent,…
Q: A Company, which applies overhead at the rate of 1709% of direct material cost, began work on job…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: Martin Manufacturing assigns overhead to jobs based on machine hours. At the beginning of the…
A: Overhead allocation is based on a predetermined overhead rate. The predetermined overhead rate can…
Q: During August, Rothchild Copany accumulated 3,500 hoursof direct labor costs on Job 40 and 4,200…
A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…
Q: Mary Rose Company applies manufacturing overhead to jobs on the basis of machine hours used.…
A: >Manufacturing Overheads are the indirect manufacturing cost incurred during the production…
Q: K company production was working on Job 1 and Job 2 during the month. Of the $795 in direct…
A: Job 1 Hours Total Cost Direct Material $ 380 Direct Labor 20 Hours $ 420…
Q: On January 1, VYLGHA946 Corp. estimated its total overhead for the upcoming year to be $300,000 and…
A: Overapplied or underapplied overhead is the difference between actual overhead and applied overhead.…
Q: . Dale Company, which applies overhead at the rate of 190% of direct labor cost, began work on job…
A: Total Applied overhead = Direct Labor cost x Overhead rate
Q: 29) Armour, Inc., an advertising agency, applies overhead to jobs on the basis of direct…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: 5) Darrow Corporation uses a predetermined overhead rate based on direct labor-hours to apply…
A: Formula: Predetermined overhead rate = Applied overhead / Direct labor hours
Q: Job #2365 incurred the following during production: Direct Materials: $25,000 Manufacturing Labor:…
A: The question is based on the concept of Cost Accounting.
Q: On July 1, Job 46 had a beginning balance of $1,235. During July, prime costs added to the job…
A: A cost sheet is a method of allocation of the total cost of the product into different categories.…
Q: Ammons Corporation allocates manufacturing overhead using a predetermined manufacturing overhead…
A: Pre - determined overhead rate is the rate at which overhead cost are applied to the production.
Q: Company XYZ applies overhead cost to jobs on the basis of direct labor cost Job A, which was started…
A: Direct labor cost is a part of the payroll. It is directly associated with the manufacture of a…
Q: Yarra Fabrication estimates that its manufacturing overhead will be $2,355,200 in year 1. It further…
A: Manufacturing overhead states all the costs of indirect nature which is incurred during the…
Q: Reynolds Manufacturers Inc. has estimated total factory overhead costs of $103,000 and expected…
A: In this question has covered the concept of measurement of Overhead Cost.
Q: Jeniffer Fly Shop applies overhead at a rate of $5.50 per direct labor hour. At the end of the…
A: Formula: Manufacturing overhead = Direct labor hours x Per direct labor hour
Q: Company XYZ applies overhead cost to jobs on the basis of direct labor cost, Job A, which was…
A: The traditional method of allocating the indirect costs in the manufacturing corporation allows them…
Q: Boone Manufacturing had worked on two jobs, Job 101 and Job 102 last year. T estimated manufacturing…
A: Production variance is similar to labor efficiency variance. production Variance = (SH - AH) * SR
Q: BK Corporation estimated its overhead rate for the year to be SAR 140 per direct labor hour. Job…
A: Lets understand the basics. Job costing is a technique under which cost of preparing and selling of…
Q: Salinger Company estimates that total factory overhead costs will be $90,000 for the year. Direct…
A: Predetermined overhead rate = Estimated overhead costsEstimated activity in allocation base
Q: 9. Safari Company estimated its total manufacturing overhead costs to be $80,000 and its total…
A: Overhead are the expenses that are incurred indirectly to the production. These indirect costs are…
Q: On July 1, Job 46 had a beginning balance of $710. During July, prime costs added to the job totaled…
A: Given, Beginning balance of Job 46 = $710 Ending balance of Job 46 = $1,600 Prime costs = $670…
Q: 6. Darrow Company uses a predetermined overhead rate based on direct labor-hours to apply…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: 1. For KnightRider Company, the predetermined overhead rate is 150% of direct labor cost. During the…
A: Manufacturing overhead applied = Actual direct labor costs x Predetermined overhead rate = $85000 x…
Q: Reynolds Manufacturers Inc. has estimated total factory overhead costs of $113,400 and expected…
A: Debit to wip and credit to factory overhead credited for = (113,400/12,600) *1,180 = 9*1,180 =…
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- Queen Bees Honey, Inc., estimated its annual overhead to be $110,000 and based its predetermined overhead rate on 27,500 direct labor hours. At the end of the year, actual overhead was $106,000 and the total direct labor hours were 29,000. What is the entry to dispose of the over applied or under applied overhead?During the month, Job Arch2 used specialized machinery for 350 hours and incurred $700 in utilities on account. $400 in factory depreciation expense, and $200 in property tax on the factory. Prepare journal entries for the following: A. Record the expenses incurred. B. Record the allocation of overhead at the predetermined rate of $1.50 per machine hour.K company production was working on Job 1 and Job 2 during the month. Of the $780 in direct materials. $375 in materials was requested for Job 1. Direct labor cost, including payroll taxes, are $23 per hour, and employees worked 18 hours on Job 1 and 29 hours on Job 2. Overhead is applied at the rate of $20 per direct labor hours. Prepare job order cost sheets for each job.
- During August, Skyler Company worked on three jobs. Data relating to these three jobs follow: Overhead is assigned on the basis of direct labor hours at a rate of 2.30 per direct labor hour. During August, Jobs 39 and 40 were completed and transferred to Finished Goods Inventory. Job 40 was sold by the end of the month. Job 41 was the only unfinished job at the end of the month. Required: 1. Calculate the per-unit cost of Jobs 39 and 40. (Round unit costs to nearest cent.) 2. Compute the ending balance in the work-in-process inventory account. 3. Prepare the journal entries reflecting the completion of Jobs 39 and 40 and the sale of Job 40. The selling price is 140 percent of cost.Rulers Company is a neon sign company that estimated overhead will be $60,000, consisting of 1,500 machine hours. The cost to make Job 416 is $95 in neon, 15 hours of labor at $13 per hour, and five machine hours. During the month, it incurs $95 in indirect material cost, $130 in administrative labor, $320 in utilities, and $350 in depreciation expense. What is the predetermined overhead rate if machine hours are considered the cost driver? What is the cost of Job 416? What is the overhead incurred during the month?Coops Stoops estimated its annual overhead to be $85,000 and based its predetermined overhead rate on 24,286 direct labor hours. At the end of the year, actual overhead was $90,000 and the total direct labor hours were 24,100. What is the entry to dispose of the over applied or under applied overhead?
- The actual overhead for a company is $73,175. Overhead was based on 4,500 machine hours and was $3,325 over applied for the year. What is the overhead application rate per direct labor hour? What is the journal entry to dispose of the under applied overhead?York Company Is a machine shop that estimated overhead will be $50,000, consisting of 5,000 hours of direct labor. The cost to make job 0325 is $70 in aluminum and two hours of labor at $20 per hour. During the month. York incurs $50 in indirect material cost. $150 in administrative labor, $300 in utilities, and $250 in depreciation expense. What is the predetermined overhead rate if direct labor hours are considered the cost driver? What is the cost of Job 0325? What is the overhead incurred during the month?JOURNAL ENTRIES FOR MATERIAL, LABOR, AND OVERHEAD Eto Manufacturing had the following transactions during the month: (a) Purchased raw materials on account, 70,000. (b) Issued direct materials to Job No. 300, 25,000. (c) Issued indirect materials to production, 10,000. (d) Paid biweekly payroll and charged direct labor to Job No. 300, 8,000. (e) Paid biweekly payroll and charged indirect labor to production, 3,000. (f) Issued direct materials to Job No. 301, 20,000. (g) Issued indirect materials to production, 4,000. (h) Paid miscellaneous factory overhead charges, 6,000. (i) Paid biweekly payroll and charged direct labor to Job No. 301, 10,000. (j) Paid biweekly payroll and charged indirect labor to production, 2,000. REQUIRED Prepare general journal entries for transactions (a) through (j).
- The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning February 1 would be 3,150,000, and total direct labor costs would be 1,800,000. During February, the actual direct labor cost totalled 160,000, and factory overhead cost incurred totaled 283,900. a. What is the predetermined factory overhead rate based on direct labor cost? b. Journalize the entry to apply factory overhead to production for February. c. What is the February 28 balance of the account Factory OverheadBlending Department? d. Does the balance in part (c) represent over- or underapplied factory overhead?Channel Products Inc. uses the job order cost system of accounting. The following is a list of the jobs completed during March, showing the charges for materials issued to production and for direct labor. Assume that factory overhead is applied on the basis of direct labor costs and that the predetermined rate is 200%. Required: Compute the amount of overhead to be added to the cost of each job completed during the month. Compute the total cost of each job completed during the month. Compute the total cost of producing all the jobs finished during the month.The books of Petry Products Co. revealed that the following general journal entry had been made at the end of the current accounting period: The total direct materials cost for the period was $40,000. The total direct labor cost, at an average rate of $10 per hour for direct labor, was one and one-half times the direct materials cost. Factory overhead was applied on the basis of $4 per direct labor hour. What was the total actual factory overhead incurred for the period? (Hint: First solve for direct labor cost and then for direct labor hours.)