Question

During March 2019, Virginia Bay Corporation recorded $275,000 of costs related to factory overhead. Virginia Bay's...

During March 2019, Virginia Bay Corporation recorded $275,000 of costs related to factory overhead. Virginia Bay's overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $298,000 would be incurred, and 6,400 direct labor hours would be worked. During March, 11,000 hours were actually worked. Use this information to determine the standard overhead rate.

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1
Standard overhead rate = $                                                  46.56 per direct labor hour
Workings:
Standard overhead rate = Total estimated overheads / Total estimated direct labor hours
= $298000 / 6400 DLH
= $                                                  46.56 per direct labor hour
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
During March 2019, Virginia Bay Corporation recorded $275,000 of costs related to factory overhead. Virginia Bay's...
During March 2019, Virginia Bay Corporation recorded $275,000 of costs related to factory overhead. Virginia Bay's overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $277,000 would be incurred, and 9,000 direct labor hours would be worked.  During March, 11,000 hours were actually worked. Use this information to determine the standard overhead rate. (round & enter any final dollar answers to the nearest cent):
During March 2019, Roberts Corporation recorded $254,000 of costs related to factory overhead. Alaska's overhead application...
During March 2019, Roberts Corporation recorded $254,000 of costs related to factory overhead. Alaska's overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $250,000 would be incurred, and 12,500 direct labor hours would be worked. During March, 12,800 hours were actually worked. Use this information to determine the amount of overhead over or under applied. Enter overapplied overhead as a negative number. (round & enter any final dollar answers to the nearest...
During March 2019, Annapolis Corporation recorded $43,600 of costs related to factory overhead. Alpha's overhead application...
During March 2019, Annapolis Corporation recorded $43,600 of costs related to factory overhead. Alpha's overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $43,300 would be incurred, and 5,500 direct labor hours would be worked. During March, 6,250 hours were actually worked. Use this information to determine the amount of factory overhead that was (over) or under applied. (Round answers to the nearest whole dollar. Enter as a positive number if under...
During March 2019, Annapolis Corporation recorded $44,000 of costs related to factory overhead. Alpha's overhead application...
During March 2019, Annapolis Corporation recorded $44,000 of costs related to factory overhead. Alpha's overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $43,300 would be incurred, and 5,000 direct labor hours would be worked. During March, 6,250 hours were actually worked. Use this information to determine the amount of factory overhead that was (over) or under applied. (Round answers to the nearest whole dollar. Enter as a positive number if under...
During March 2019, Alaska Corporation recorded $236,000 of costs related to factory overhead.  Alaska's overhead application rate...
During March 2019, Alaska Corporation recorded $236,000 of costs related to factory overhead.  Alaska's overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $250,000 would be incurred, and 12,500 direct labor hours would be worked.  During March, 11,800 hours were actually worked. Use this information to determine the amount of overhead over or under applied.  Enter overapplied overhead as a negative number. (round & enter any final dollar answers to the nearest whole dollar)
During March 2019, Annapolis Corporation recorded $40,400 of costs related to factory overhead.  Alpha's overhead application rate...
During March 2019, Annapolis Corporation recorded $40,400 of costs related to factory overhead.  Alpha's overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $40,700 would be incurred, and 6,000 direct labor hours would be worked.  During March, 5,250 hours were actually worked. Use this information to determine the amount of factory overhead that was (over) or under applied. (Round answers to the nearest whole dollar. Enter as a positive number if under applied.   Enter...
During March 2019, Annapolis Corporation recorded $42,600 of costs related to factory overhead.  Alpha's overhead application rate...
During March 2019, Annapolis Corporation recorded $42,600 of costs related to factory overhead.  Alpha's overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $40,500 would be incurred, and 5,000 direct labor hours would be worked.  During March, 5,750 hours were actually worked. Use this information to determine the amount of factory overhead that was (over) or under applied. (Round answers to the nearest whole dollar. Enter as a positive number if under applied.   Enter...
On March 31, 2019, Dorchester Corporation recorded the following factory overhead costs incurred: Factory Manager Salary...
On March 31, 2019, Dorchester Corporation recorded the following factory overhead costs incurred: Factory Manager Salary $5,500 Factory Utilities 2,800 Machinery Deprecation 9,000 Machinery Repairs 1,800 Factory Rent 2,000 The overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $22,000 would be incurred, and 2,000 direct labor hours would be worked. During March, 650 hours were actually worked on Job Order 3-1 and 1,200 hours were actually worked on Job Order 3-2....
On March 31, 2019, Dorchester Corporation recorded the following factory overhead costs incurred: Factory Manager Salary...
On March 31, 2019, Dorchester Corporation recorded the following factory overhead costs incurred: Factory Manager Salary $5,500 Factory Utilities 2,800 Machinery Deprecation 9,000 Machinery Repairs 1,800 Factory Rent 2,000 The overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $22,000 would be incurred, and 2,000 direct labor hours would be worked. During March, 650 hours were actually worked on Job Order 3-1 and 1,200 hours were actually worked on Job Order 3-2....
On March 31, 2017, Alpha Corporation recorded the following factory overhead costs incurred: Factory Manager Salary...
On March 31, 2017, Alpha Corporation recorded the following factory overhead costs incurred: Factory Manager Salary $7,000 Factory Utilities 3,500 Machinery Deprecation 10,000 Machinery Repairs 2,500 Indirect materials 2,000 The overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $24,000 would be incurred, and 10,000 direct labor hours would be worked. During March, 7,100 hours were actually worked on Job Order A-2 and 2,600 hours were actually worked on Job Order A-3....
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT