Question

Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of...

Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of the year, the company estimated its total overhead cost to be $325,000 and machine hours to be 25,000. Actual manufacturing overhead and machine hours were $372,000 and 26,000, respectively.

Required:

1. Compute the predetermined overhead rate.

2. Compute applied manufacturing overhead.

3. Compute over- or underapplied manufacturing overhead.

Compute the predetermined overhead rate.
Predetermined Overhead Rate    per Machine Hour

Compute applied manufacturing overhead.
Applied Manufacturing Overhead   

Compute over- or underapplied manufacturing overhead.
Manufacturing Overhead   
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of...
Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of the year, the company estimated its total overhead cost to be $298,300 and machine hours to be 15,700. Actual manufacturing overhead and machine hours were $336,300 and 16,700, respectively. Required: 1. & 2. Prepare the journal entries for actual and applied manufacturing overhead and transfer of manufacturing overhead account balance to cost of goods sold. (If no entry is required for a transaction/event, select...
Acton Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data...
Acton 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 $325,440 Estimated machine-hours 2,400 Actual manufacturing overhead $320,300 Actual machine-hours 2,370 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. The overhead for the year was: Noreen 4e Recheck 2017-16-03 $4,068 underapplied $1,072...
Acton Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data...
Acton 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 $361,260 Estimated machine-hours 2,700 Actual manufacturing overhead $354,700 Actual machine-hours 2,660 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. The overhead for the year was: Noreen 4e Recheck 2017-16-03 $5,352 underapplied $5,352...
Junior Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the...
Junior Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $240,600 and 5,600 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $242,600 and actual direct labor-hours were 4,900. The overhead for the year was: (Round your intermediate calculations to 2 decimal places.) Multiple Choice $32,096 overapplied $30,096 overapplied $32,096 underapplied $30,096 underapplied
Acton Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data...
Acton 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 $176,700 Estimated machine-hours 1,900 Actual manufacturing overhead $168,100 Actual machine-hours 1,820 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. The predetermined overhead rate is closest to: $93.00 $92.81 $92.36 $92.17
Brickner  and Velez Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following...
Brickner  and Velez 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: 139,080 estimated machine hours: 3,800 Actual Manufacturing Overhead: 137,000 Actual 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. What is the Predetermined OH rate?_____________ If the Lezcano...
Logan Products computes its predetermined overhead rate annually on the basis of machine-hours. At the beginning...
Logan Products computes its predetermined overhead rate annually on the basis of machine-hours. At the beginning of the year, it estimated that its total manufacturing overhead would be $368,500 and machines would be run a total of 42,000 hours. Its actual total manufacturing overhead for the year was $356,400 and its actual total machine-hours was 41,500 hours. Required: Compute the company’s predetermined overhead rate for the year, calculate the total overhead applied, and determine the amount of under- or overapplied...
Logan Products computes its predetermined overhead rate annually on the basis of machine-hours. At the beginning...
Logan Products computes its predetermined overhead rate annually on the basis of machine-hours. At the beginning of the year, it estimated that its total manufacturing overhead would be $356,500 and machines would be run a total of 24,000 hours. Its actual total manufacturing overhead for the year was $344,400 and its actual total machine-hours was 23,500 hours. Required: Compute the company’s predetermined overhead rate for the year, calculate the total overhead applied, and determine the amount of under- or overapplied...
Waterway Industries applies overhead on the basis of machine hours. Given the following data, compute overhead...
Waterway Industries applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under- or overapplication of overhead for the period: Estimated annual overhead cost $1800000 Actual annual overhead cost $1775000 Estimated machine hours 500000 Actual machine hours 290000 $1044000 applied and $731000 underapplied $1800000 applied and $731000 overapplied $1044000 applied and $731000 overapplied $1775000 applied and neither under-nor overapplied
Job Order Costing Data Allocation base Machine-hours Estimated manufacturing overhead cost $300,000 Estimated total amount of...
Job Order Costing Data Allocation base Machine-hours Estimated manufacturing overhead cost $300,000 Estimated total amount of the allocation base 75,000 machine-hours Actual manufacturing overhead cost $290,000 Actual total amount of the allocation base 68,000 machine-hours Enter a formula into each of the cells marked with a ? below Computation of the predetermined overhead rate Estimated manufacturing overhead cost ? Estimated total amount of the allocation base ? machine-hours Predetermined overhead rate ? per machine-hour Computation of underapplied or overapplied manufacturing...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT