Manufacturing overhead was estimated to be OMR 400,000 for the year along with estimated 20,000 direct labor hours. Actual manufacturing overhead was OMR 415,000, and actual labor hours were 21,000. The amount credited to the Manufacturing Overhead account would be:

Q: Mehboob Corporation calculate its predetermined overhead rate on the basis of estimated…

A: Predetermined fixed overhead rate = Estimated total fixed manufacturing overhead / Estimated Machine…

Q: Midwest Corporation has provided the following data concerning manufacturing overhead for 2020:…

A: Under applied overhead = Actual overhead - Expected overhead

Q: Company XYZ uses direct labor hours to allocate its manufacturing overhead. Manufacturing overhead…

A: Manufacturing Overheads: Manufacturing Overheads are the overheads that are not directly attributed…

Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of…

A:

Q: Arden Company reported the following costs and expenses for the most recent month:   direct…

A: Cost sheet is a method of allocating total cost into different categories such as direct material…

Q: Bradbeer Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of…

A: The estimated manufacturing overhead is the budgeted or expected overhead. It can be calculated on…

Q: Crinks Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of…

A: Predetermined OH rate  = Budgeted Overhead cost / Budgeted Labour hours…

Q: Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor hours.…

A: Predetermined overhead rate: Predetermined overhead rate is calculated befor the period begins. This…

Q: Salah Inc bases its predetermined overhead rate on the estimated labor-hours for the upcoming year.…

A: Overhead means the cost indirectly incured for manufacturing the product. Predetermined overhead…

Q: o

A: A manufacturing overhead account keeps track of both actual and applied overhead charges (debits)…

Q: Crinks Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of…

A: Overhead are the indirect costs incurred in the business. If actual overhead costs are more than…

Q: Clark Company expected to incur $11,600 in manufacturing overhead costs and use 4,000 machine hours…

A: Manufacturing overhead: It includes all the indirect cost that incurred during the production…

Q: A company estimated the manufacturing overhead costs for the coming year at $420,000. The total…

A: Overheads means all type of indirect costs being incurred by the business. These costs can not be…

Q: At the beginning of the year, managers at King Industries estimated $420,000 in manufacturing…

A: Formula: Predetermined overhead rate = Estimated manufacturing overhead / Direct labor hours

Q: A company estimated the manufacturing overhead costs for the coming year at $420,000. The total…

A: Predetermined Overhead Rate: Predetermined overhead rate is a measure used to allocate the…

Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of…

A: Factory overhead means all type of indirect costs being incurred on production and manufacturing of…

Q: Mehboob Corporation calculate its predetermined overhead rate on the basis of estimated…

A: Predetermined Overhead Rate =  Total Estimated Fixed Manufacturing OverheadTotal Estimated Machine…

Q: Thomlin Company forecasts that total overhead for the current year will be $10,864,000 with 194,000…

A: Projected total overhead = $10,864,000 Projected machine hours = 194,000 Hours

Q: Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours.…

A: The predetermined overhead rate is the allocation rate used to allocate the manufacturing overhead…

Q: - company estimated 100,000 direct labor hours and $600,000 in overhead. The actual overhead was…

A:

Q: Bradbeer Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of…

A: Overheads are the total indirect costs that are incurred for production and manufacturing of goods,…

Q: At the beginning of the year, Concord Corporation estimates annual overhead costs to be $2400000 and…

A: Overhead rate is computed by dividing the estimated overhead by the estimated machine hours.…

Q: At the beginning of the year, Learer Company's manager estimated total direct labor cost assuming 50…

A: 1. Predetermined overhead rate=Estimated overhead costEstimated direct labour cost 2. Overhead…

Q: Winston Company estimates that the factory overhead for the following year will be $833,900. The…

A: Pre-Determined Manufacturing Overhead: Pre-Determined Manufacturing Overhead Rate is an allocation…

Q: A company estimated the manufacturing overhead costs for the coming year at $420,00 The total…

A: Overheads means all type of indirect costs that are incurred for production and manufacturing of…

Q: Manufacturing overhead was estimated to be OMR 400,000 for the year along with estimated 20,000…

A: The predetermined overhead rate is calculated as total estimated manufacturing overhead cost divided…

Q: Winston Company estimates that the factory overhead for the following year will be $1,134,000. The…

A: Budgeted overhead = $1,134,000 Budgeted Machine Hours = 37,800 Thus Rate at which overhead will be…

Q: Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the…

A: Predetermined overhead rates are used to allocate indirect costs. Alternatively, activity-based…

Q: Pyramid Company expects to incur $3,000,000 in manufacturing overhead costs this year. During the…

A: The question is based on the concept of Cost Accounting.

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: A company estimated 120,000 direct labor hours and $1,200,000 in overhead. The actual overhead was…

A: Predetermined overhead rate = Estimated overhead cost / Estimated direct labor hours Overhead…

Q: Aaron Company estimates direct labor costs and manufacturing overhead costs for the coming year to…

A: Pre determined overhead Allocation  The purpose calculating the pre determined overhead allocation…

Q: A company estimated 80,000 direct labor hours and $640,000 in overhead. The actual overhead was…

A: Answer) Calculation of Predetermined Overhead rate Predetermined overhead rate = Budgeted Overheads/…

Q: During the month of August, direct labor cost totaled $13,000 and direct labor cost was 20% of prime…

A: Total manufacturing costs = Prime cost + manufacturing overhead Where, Prime cost = Direct material…

Q: Your Corporation uses a predetermined overhead rate based on direct labor hours to apply…

A: Applied overhead is the amount that is added to jobs as work is completed. This is done during the…

Q: Manufacturing overhead was estimated to be OMR 415,000 for the year along with estimated 20,000…

A: Manufacturing overheads includes all indirect cost incurred during the production process. For…

Q: A company uses a predetermined overhead rate based on direc labor hours to apply manufacturing…

A: Predetermined overhead rate = estimated total manufacturing overhead cost / direct labor-hours =…

Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of…

A: Solution....     Estimated manufacturing overhead costs  = $328,000. Estimated direct labor hours  =…

Q: Logan Products computes its predetermined overhead rate annually on the basis of direct labor hours.…

A: Given: Direct labor-hours = 40,000 hours Fixed manufacturing overhead expenses = $466,000  Actual…

Q: Manufacturing overhead was estimated to be OMR 400,000 for the year along with estimated 20,000…

A: Above question deals with journal entries for flow of production costs. Manufacturing overhead…

Q: At the beginning of the year, a company predicts total direct materials costs of $900,000 and total…

A: Predetermined overhead rate: It can be defined as an allocation rate that is used by the business in…

Q: silver company uses direct labor-hours in its predetermined overhead rate. At the beginning of the…

A: The manufacturing overhead are said to be underapplied when actual overheads are more than the…

Q: Thomlin Company forecasts that total factory overhead for the current year will be $17,280,000 with…

A: Formula: Predetermined overhead rate = Estimated overhead / Estimated Machine hours.

Q: If estimated annual factory overhead is $768,000; overhead is applied using direct labor hours;…

A: Predetermined overhead rate = Estimated overhead / Estimated labor hours Predetermined overhead rate…

Q: Longobardi Corporation bases its predetermined overhead rate on the estimated labor-hours for the…

A: Given,  Estimated direct labor hours = 30,600 hours Estimated fixed manufacturing overhead =…

Q: ​Lakeside, Inc. estimated manufacturing overhead costs for the year at $374,000​, based on 182,000…

A: Overheads are considered as fixed and common expenses that should be allocated to the products on…

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.