Estimated manufacturing overhead.....$224,550 Estimated machine-hours................. 4,500 Actual manufacturing overhead.…..........$224,000 Actual machine-hours............. ...4.440 The estimates of the manufacturing overhead and of machine-hours were made at the beginning of

Estimated manufacturing overhead.....$224,550 Estimated machine-hours................. 4,500 Actual manufacturing overhead.…..........$224,000 Actual machine-hours............. ...4.440 The estimates of the manufacturing overhead and of machine-hours were made at the beginning of

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Description: Please do not give solution in image format thanku Acer Corporation, which applies manufacturingoverhead on the basis of machine-hours, hasprovided the following data for its most recentyear of operations.Estimated manufacturing overhead.....$224,550

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 21E: Ellerson Company provided the following information for the last calendar year: During the year,...

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Black Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its most recent year of operations. Estimated manufacturing overhead...................... $139,080Estimated machine-hours..................................... 3,800Actual manufacturing overhead ........................... $137,000Actual machine-hours .......................................... 3,780 The estimates of the manufacturing overhead and of machine-hours were made at the beginning of the year for the purpose of computing the company's predetermined overhead rate for the year. a.The predetermined overhead rate is closest to:b. The applied manufacturing overhead for the year is closest to:c.The overhead for the year was:
Parmitan Corporation has provided the following data concerning last month’s manufacturing operations.Purchases of raw materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $53,000Indirect materials included in manufacturing overhead . . . . . . . . . . . . . . . $8,000Direct labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $62,000Manufacturing overhead applied to work in process . . . . . . . . . . . . . . $41,000Underapplied overhead . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $8,000Beginning EndingInventories: Raw materials . . . . . . . . . . . . . . . . . . . …$24,000 $6,000Work in process . . . . . . . . . . . . . . . . . . . ……………….$41,000 $38,000Finished goods . . . . . . . . . . . . . . . . . …………………. $86,000 $93,000Required:1. Prepare a schedule of cost of goods manufactured for the month.2. Prepare a schedule of cost of goods sold for the month.
Acitelli corporation, which applies manufacturing overhead on the basis of machine hours, has provided the following data for its most recent year of operations. Estimated manufacturing overhead…………….. $357,000 Estimated machine hours………………………. 8,500 Actual manufacturing overhead………………… $358,000 Actual machine hours…………………………… 8,560 The estimates of the manufacturing overhead and of machine hours were made at the beginning of the year for the purpose of computing the company's predetermined overhead rate for the year
BFAR Company used a predetermined overhead rate last year of P2 per direct labor hour, based on an estimate of 87,500 direct labor hours to be worked during the year. Actual costs and activity during the year were: Actual manufacturing overhead cost incurred ........... P176,500 Actual direct labor hours worked ........... 90,000 Compute the under- or overapplied overhead. Encode the value as is if underapplied. Encode the answer as a negative amount if overapplied.
Parmitan Corporation has provided the following data concerning last month’s manufacturing operations. Purchases of raw materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $53,000 Indirect materials included in manufacturing overhead . . . . . . . . . . . . . . . $8,000 Direct labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $62,000 Manufacturing overhead applied to work in process . . . . . . . . . . . . . . $41,000 Underapplied overhead . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $8,000 Beginning Ending Inventories: Raw materials . . . . . . . . . . . . . . . . . . . …$24,000 $6,000 Work in process . . . . . . . . . . . . . . . . . . . ……………….$41,000 $38,000 Finished goods . . . . . . . . . . . . . . . . . …………………. $86,000…
Arden Company reported the following costs and expenses for the most recent month: Direct materials . . . . . . . . . . . . . . . . . . . . . . $80,000Direct labor . . . . . . . . . . . . . . . . . . . . . . . . . $42,000Manufacturing overhead . . . . . . . . . . . . . . . $19,000Selling expenses . . . . . . . . . . . . . . . . . . . . . $22,000Administrative expenses . . . . . . . . . . . . . . . $35,000 1. What is the total amount of product costs?2. What is the total amount of period costs?3. What is the total amount of conversion costs?4. What is the total amount of prime costs?
1. How much manufacturing overhead was incurred during the year? Is manufacturing overhead underallocated or overallocated at the end of the year? By how much? 2. Were the jobs overcosted or undercosted? By how much? Manufacturing overhead costs. . . . . . $630,000 Direct labor cost. . . . . . . . . . . . . . . . . . $1,550,000 Machine hours. . . . . . . . . . . . . . . . . . . . 90,000 At the end of the year, the company had actually incurred the following: Direct labor cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,220,000 Depreciation on manufacturing plant and equipment. . . . $500,000 Property taxes on plant. . . . . . . . . . . . . . . . . . . . . . . . . . $21,000 Sales salaries. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $25,000 Delivery drivers' wages. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $17,000 Plant janitors'…
The following labor standards have been established for a particular product: Standard labor-hours per unit of output ........... ....... 1.7 hour Standard labor rate ........ $14.05 per hour The following data pertain to operations concerning the product for the last month: Actual hour worked ..... 3700 hours Actual total labor cost ...... $ 50690 Actual output ....... 2300 units What is the labor rate variance for the month?
Hamilton Company applies manufacturing overhead costs to products based on direct labor hours. The company estimates manufacturing overhead cost for the year to be $252,000 and direct labor hours to be 20,000. Actual overhead and actual direct labor hours for the year were $265,000 and 22,200 hours, respectively. 1. Compute over- or underapplied overhead. 2a. Which accounts will be affected by the over- or underapplied manufacturing overhead? 2b. Will the accounts be increased or decreased to adjust for the over- or underapplied manufacturing overhead?
The following information is available for a company’s maintenance cost over the last seven months. Using the high-low method, estimate both the fixed and variable components of its maintenance cost. Month Units Produced Maintenance CostJune . . . . . . . . . . . . . . . 90 $5,450 July . . . . . . . . . . . . . . . . 180 6,900 August . . . . . . . . . . . . . 120 5,100 September . . . . . . . . . . 150 6,000 October . . . . . . . . . . . . 210 6,900 November . . . . . . . . . . 240 8,100 December . . . . . . . . . . . 60 3,600
XYZ Company had the following information available for the last year: manufacturing overhead for the year was estimated to be OMR275,000; actual manufacturing overhead for the year was OMR250,000; actual direct labor-hours for the year were 13,010 hours; manufacturing overhead for the year was overapplied by OMR10,200. Predetermined overhead rate is based on direct labor-hours. What was the estimated direct labor- hours for the year? Select one: O a. 12,000 O b. 14,250 O c. None of the answers given O d. 13,750
The following data (in thousands of dollars) have been taken from the accounting records of Karlana Corporation for the just completed year. Sales......... Raw materials inventory, beginning Raw materials inventory, ending. Purchases of raw materials Direct labor............. Manufacturing overhead........... Administrative expenses. $180 Selling expenses...... Work in process inventory, beginning....... Work in process inventory, ending.......... Finished goods inventory, beginning.... Finished goods inventory, ending.. The cost of the raw materials used in production during the year (in thousands of dollars) was: $40 $120 $910 $80 $20 $100 $130 O $160 $200 $160 $140 $40 $10 $130 $150