Question

What is overhead manufacturing

What is overhead manufacturing

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Solution:

Manufacturing overhead:

Manufacturing overhead refers to indirect factory-related costs that are incurred when a product is manufactured. Along with costs such as direct material and direct labor, the cost of manufacturing overhead must be assigned to each unit produced so that actual cost of product could be ascertained.

Example of indirect factory cost are indirect material, indirect labor, factory rent, factory building depreciation, factory property and taxes etc.

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
Given net income is 300,000 (before adjusting for over and underapplied manufacturing overhead) and manufacturing overhead...
Given net income is 300,000 (before adjusting for over and underapplied manufacturing overhead) and manufacturing overhead is overapplied by 30,000. What is the net income after adjustment for the overapplied manufacturing overhead? 270,000 is not an option. a) 330,000 b) 300,000 c) 200,000
The actual manufacturing overhead incurred at Liberty Industries during May was $62,600, while the manufacturing overhead...
The actual manufacturing overhead incurred at Liberty Industries during May was $62,600, while the manufacturing overhead applied to Work-in-Process was $76,400. The company's Cost of Goods Sold was $291,400 prior to closing out its Manufacturing Overhead account. The company closes out its Manufacturing Overhead account to Cost of Goods Sold. Which of the following statements is true? Multiple Choice Manufacturing overhead was overapplied by $13,800; Cost of Goods Sold after closing out the Manufacturing Overhead account is $277,600. Manufacturing overhead...
1.If the actual manufacturing overhead cost for a period exceeds the manufacturing overhead cost applied, then...
1.If the actual manufacturing overhead cost for a period exceeds the manufacturing overhead cost applied, then manufacturing overhead would be considered to be underapplied. True False . 2.Which of the following is the correct formula to compute the predetermined overhead rate? Actual total manufacturing overhead costs divided by estimated total units in the allocation base. Estimated total manufacturing overhead costs divided by actual total units in the allocation base. Estimated total units in the allocation base divided by estimated total...
Explain the process of applying manufacturing overhead. What happens when there is a balance in that...
Explain the process of applying manufacturing overhead. What happens when there is a balance in that account at the end of the year? What types of costs are included in the manufacturing overhead account?
4-24 Budgeted manufacturing overhead rate, allocated manufacturing overhead. Gammaro Company uses normal costing. It allocates manufacturing...
4-24 Budgeted manufacturing overhead rate, allocated manufacturing overhead. Gammaro Company uses normal costing. It allocates manufacturing overhead costs using a budgeted rate per machine-hour. The following data are available for 2017: Budgeted manufacturing overhead costs $4,600,000 Budgeted machine-hours      184,000 Actual manufacturing overhead costs $4,830,000 Actual machine-hours      180,000 Required: Calculate the budgeted manufacturing overhead rate. Calculate the manufacturing overhead allocated during 2017. Calculate the amount of under- or overallocated manufacturing overhead. Why do Gammaro’s managers need to calculate this amount?
1.Showboat Corporation had actual manufacturing overhead costs for the most recent year of $ 29,700.Manufacturing overhead...
1.Showboat Corporation had actual manufacturing overhead costs for the most recent year of $ 29,700.Manufacturing overhead is allocated using a predetermined manufacturing overhead rate of $3.50 per direct labor hour. Direct labor cost is $27 per hour. At the end of the​ year, Cabaret Corporation found it had overallocated manufacturing overhead by $1,350. How much manufacturing overhead was allocated in total during the​ year? 2.Barefoot Running​ Company's work in process inventory on June 1 has a balance of $23,300 representing...
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....
Sawyer Manufacturing Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead...
Sawyer Manufacturing Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Last year, the Corporation worked 41,000 actual direct labor-hours and incurred $624,000 of actual manufacturing overhead cost. The Corporation had estimated that it would work 39,000 direct labor-hours during the year and incur $585,000 of manufacturing overhead cost. The Corporation's manufacturing overhead cost for the year was:
if we assume that there is a fixed manufacturing overhead of $50,000 and the variable manufacturing...
if we assume that there is a fixed manufacturing overhead of $50,000 and the variable manufacturing overhead is $10 per direct labor-hour, what is the estimated unit product cost? The total direct labor hours are 2 hours and the number of units produced is 10,000. Direct materials 5 pounds, $2 per pound. Direct labor is 2 hours, $15 per hour. Manufacturing overhead 2 hours, $10 per hour.
Swifty Company applies manufacturing overhead based on direct labor hours. Information concerning manufacturing overhead and labor...
Swifty Company applies manufacturing overhead based on direct labor hours. Information concerning manufacturing overhead and labor for the year as follows: Actual manufacturing overhead $167400 Estimated manufacturing overhead $159600 Direct labor incurred 2700 hours @ $25 = $67500 Direct labor estimated 2800 hours @ $24 = $67200 How much is over or underapplied overhead at year end? $7800 overapplied. $13500 underapplied. $5700 underapplied. $6200 underapplied.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT