Question

Well Company calculates overhead on the basis of direct labor costs. Estimated overhead is $300,000 and...

Well Company calculates overhead on the basis of direct labor costs. Estimated overhead is $300,000 and estimated direct labor is $200,000. If actual direct labor was $215,000 and actual overhead was $325,000, how much overhead was applied? Show your calculations for predetermined overhead rate and applied 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
Your Company uses a predetermined overhead rate based on direct labor cost. The POR is 80%...
Your Company uses a predetermined overhead rate based on direct labor cost. The POR is 80% of direct labor costs. Use the following information to determine by how much the manufacturing overhead cost for the current year will be over or under applied.                     Direct labor-hours: Estimated for the year................ 24,000 Actual hours worked.................. 19,500 Direct labor cost: Estimated for the year................ $300,000 Actual cost incurred................... $210,000 Manufacturing overhead: Estimated for the year................ $240,000 Actual cost incurred................... $185,000 The manufacturing overhead...
1. A company allocates overhead on the basis of direct labor dollars. Estimated direct labor is...
1. A company allocates overhead on the basis of direct labor dollars. Estimated direct labor is $100,000 and estimated overhead is $200,000. Actual overhead is $190000 and actual direct labor is $90,000. What is the amount of applied overhead? $200,000 $170,000 $180,000 2. When revenues equal costs, it is called margin of safety contribution margin fixed cost ratio break-even point 3. In variable costing income statements fixed overhead is part of product costs fixed costs are part of product costs...
Your company computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At...
Your company computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 20,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $94,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.00 per direct labor-hour. Your company's actual manufacturing overhead cost for the year was $123,900 and its actual total direct labor was 21,000 hours....
A company estimated 100,000 direct labor hours and $815,000 in overhead. The actual overhead was $836,500,...
A company estimated 100,000 direct labor hours and $815,000 in overhead. The actual overhead was $836,500, and there were 90,000 direct labor hours. Base on the predetermined overhead rate, how much of the overhead was underestimated? [Hint: round your answer in 2 decimal places]
Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the...
Baka 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 $244,200 and 9,200 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $245,000 and actual direct labor-hours were 6,100. The applied manufacturing overhead for the year was closest to: (Round your intermediate calculations to 2 decimal places.) Garrison 16e Rechecks 2017-08-28 Multiple Choice $162,443 $161,894 $305,366 $244,976
A company expected its annual overhead costs to be $1,892,632 and direct labor costs to be...
A company expected its annual overhead costs to be $1,892,632 and direct labor costs to be $1,802,528. Actual overhead was $1,981,535, and actual labor costs totaled $1,294,067. How much is the company’s predetermined overhead rate to the nearest cent?
A company uses a predetermined overhead rate based on direct labor costs to apply manufacturing overhead...
A company uses a predetermined overhead rate based on direct labor costs to apply manufacturing overhead to jobs. At the beginning of the year the company estimated its total manufacturing overhead cost at $350,000 and its direct labor costs at $200,000. The actual overhead cost incurred during the year was $362,000 and the actual direct labor costs incurred on jobs during the year was $208,000. The manufacturing overhead for the year would be: A) $12,000 underapplied B) $12,000 overapplied C)...
Erik's Florist Gump Company based in New york applies manufacturing overhead on the basis of direct...
Erik's Florist Gump Company based in New york applies manufacturing overhead on the basis of direct labor-hours. At the beginning of 2019, the company based its predetermined overhead rate on total estimated overhead of $242,100 and 7,100 estimated direct labor-hours. Actual manufacturing overhead for the 2019-2020 year amounted to $243,600 and the actual direct labor-hours were 5,400 Erik's Florist Gump Company applied manufacturing overhead for the 2019 year was closest to: (Round your intermediate calculations to 2 decimal places.)
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
The predetermined overhead allocation rate for Newton, Inc., is based on estimated direct labor costs of...
The predetermined overhead allocation rate for Newton, Inc., is based on estimated direct labor costs of $400,000 and estimated factory overhead of $800,000. Actual costs incurred were: Indirect materials…………………………….. $17,000 Indirect labor………………………………….. 13,000 Direct materials…………………………… 75,000 Direct labor……………………………….. 30,000 Advertising…………………………. 50,000 Factory depreciation………………………… 17,000 Factory Property taxes……………………...   12,000 Sales Commissions ………………………………..... 100,500 (a)    Calculate the predetermined overhead rate and calculate the overhead applied during the year. (b)   Determine the amount of over- or underapplied overhead and state whether it was under or...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT