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Instructions Chart of Accounts Factory Overhead Rates Journal Final Question Instructions Sundance Solar Company operates two factories. The company applies factory overhead to jobs on the basis of machine hours in Factory 1 and on the basis of direct labor hours in Factory 2. Estimated factory overhead costs, direct labor hours, and machine hours are as follows: Factory 1 Factory 2 Estimated factory overhead cost for fiscal year beginning March 1 $1,450,400 $800,250 Estimated direct labor hours for year 24,250 Estimated machine hours for year 51,800 Actual factory overhead costs for March $116,120 $98,220 Actual direct labor hours for March 2,920 Actual machine hours for March 4,200 Required: A. Determine the factory overhead rate for Factory 1. B. Determine the factory overhead rate for Factory 2. C. Journalize the Mar. 31 entries to apply factory overhead to production in each factory for March. Refer to the Chart of Accounts for exact wording of account titles. D. Determine the balances of the factory overhead accounts for each factory as of March 31 and indicate whether the amounts represent overapplied factory overhead or underapplied factory overhead. Enter your answer as a positive number. Previous My Work 5 more Check My Work uses remaining.

Instructions Chart of Accounts Factory Overhead Rates Journal Final Question Instructions Sundance Solar Company operates two factories. The company applies factory overhead to jobs on the basis of machine hours in Factory 1 and on the basis of direct labor hours in Factory 2. Estimated factory overhead costs, direct labor hours, and machine hours are as follows: Factory 1 Factory 2 Estimated factory overhead cost for fiscal year beginning March 1 $1,450,400 $800,250 Estimated direct labor hours for year 24,250 Estimated machine hours for year 51,800 Actual factory overhead costs for March $116,120 $98,220 Actual direct labor hours for March 2,920 Actual machine hours for March 4,200 Required: A. Determine the factory overhead rate for Factory 1. B. Determine the factory overhead rate for Factory 2. C. Journalize the Mar. 31 entries to apply factory overhead to production in each factory for March. Refer to the Chart of Accounts for exact wording of account titles. D. Determine the balances of the factory overhead accounts for each factory as of March 31 and indicate whether the amounts represent overapplied factory overhead or underapplied factory overhead. Enter your answer as a positive number. Previous My Work 5 more Check My Work uses remaining.

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter2: Job Order Costing
Section: Chapter Questions
Problem 9E: Eclipse Solar Company operates two factories. The company applies factory overhead to jobs on the...
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Instructions Chart of Accounts Factory Overhead Rates Journal Final Question Instructions Sundance Solar Company operates two factories. The company applies factory overhead to jobs on the basis of machine hours in Factory 1 and on the basis of direct labor hours in Factory 2. Estimated factory overhead costs, direct labor hours, and machine hours are as follows: Factory 1 Factory 2 Estimated factory overhead cost for fiscal year beginning March 1 $1,450,400 $800,250 Estimated direct labor hours for year 24,250 Estimated machine hours for year 51,800 Actual factory overhead costs for March $116,120 $98,220 Actual direct labor hours for March 2,920 Actual machine hours for March 4,200 Required: A. Determine the factory overhead rate for Factory 1. B. Determine the factory overhead rate for Factory 2. C. Journalize the Mar. 31 entries to apply factory overhead to production in each factory for March. Refer to the Chart of Accounts for exact wording of account titles. D. Determine the balances of the factory overhead accounts for each factory as of March 31 and indicate whether the amounts represent overapplied factory overhead or underapplied factory overhead. Enter your answer as a positive number. Previous My Work 5 more Check My Work uses remaining.
Transcribed Image Text:Instructions Chart of Accounts Factory Overhead Rates Journal Final Question Instructions Sundance Solar Company operates two factories. The company applies factory overhead to jobs on the basis of machine hours in Factory 1 and on the basis of direct labor hours in Factory 2. Estimated factory overhead costs, direct labor hours, and machine hours are as follows: Factory 1 Factory 2 Estimated factory overhead cost for fiscal year beginning March 1 $1,450,400 $800,250 Estimated direct labor hours for year 24,250 Estimated machine hours for year 51,800 Actual factory overhead costs for March $116,120 $98,220 Actual direct labor hours for March 2,920 Actual machine hours for March 4,200 Required: A. Determine the factory overhead rate for Factory 1. B. Determine the factory overhead rate for Factory 2. C. Journalize the Mar. 31 entries to apply factory overhead to production in each factory for March. Refer to the Chart of Accounts for exact wording of account titles. D. Determine the balances of the factory overhead accounts for each factory as of March 31 and indicate whether the amounts represent overapplied factory overhead or underapplied factory overhead. Enter your answer as a positive number. Previous My Work 5 more Check My Work uses remaining.
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