Question

1. The following information has been gathered for the Georgia Manufacturing Company for its fiscal year...

1. The following information has been gathered for the Georgia Manufacturing Company for its fiscal year ending december 31:

Actual Manufacturing over head costs 223,000

actual direct labor hours 66,000

actual direct labor costs 456,000

estimated manufacturing overhead costs 225,000

estimated direct labor 445,000

estimated direct labor hours 62,000

what is the predetermined manufacturing overhead rate per direct labor hour?

3. The following information has been gathered for the Harrell Manufacturing Company for its fiscal year ending december 31:

Actual Manufacturing over head costs 223,000

actual direct labor hours 66,000

actual direct labor costs 456,000

estimated manufacturing overhead costs 225,000

estimated direct labor 445,000

estimated direct labor hours 62,000

what is the predetermined manufacturing overhead rate, assuming direct labor cost is used as the activity base?

Homework Answers

Answer #1

Answer to question

estimated manufacturing overhead costs 2,25,000
estimated direct labor hours 62000
Predetermined manufacturing overhead rate per direct labor hour estimated manufacturing overhead costs / estimated direct labor hours 3.63 per hour
estimated manufacturing overhead costs 2,25,000
estimated direct labor Cost 4,45,000
predetermined manufacturing overhead rate, assuming direct labor cost is used as the activity base estimated manufacturing overhead costs / estimated direct labor Cost 0.51
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Colby Company estimates that annual manufacturing overhead costs will be $600,000. Estimated annual operating activity bases...
Colby Company estimates that annual manufacturing overhead costs will be $600,000. Estimated annual operating activity bases are: direct labor cost $460,000, direct labor hours 40,000 and machine hours 80,000. The actual manufacturing overhead cost for the year was $601,000 and the actual direct labor cost for the year was $456,000. Actual direct labor hours totaled 39,800 and machine hours totaled 79,000. Colby applies overhead based on direct labor hours. Compute the predetermined overhead rate and determine the amount of manufacturing...
1.If manufacturing overhead has been under-applied, which of the following is true: Select one: a. Revenue...
1.If manufacturing overhead has been under-applied, which of the following is true: Select one: a. Revenue is understated b. Gross Profit is understated c. Cost of Goods Sold is overstated d. Gross Profit is overstated 2. Costs of manufactured inventory items are transferred from Work-In-Process to Finished Goods Inventory when: Select one: a. Goods have been sold b. Manufacturing overhead is applied c. Direct materials are requisitioned d. Goods are ready to be sold 3. The payment of a plant...
Mason Company estimates that annual manufacturing overhead costs will be $600,000. Estimated annual operating activity bases...
Mason Company estimates that annual manufacturing overhead costs will be $600,000. Estimated annual operating activity bases are: direct labor cost $460,000, direct labor hours 40,000 and machine hours 80,000. The actual manufacturing overhead cost for the year was $601,000 and the actual direct labor cost for the year was $456,000. Actual direct labor hours totaled 39,800 and machine hours totaled 79,000. Melanie applies overhead based on direct labor hours. Required: 12. Predetermined overhead rate 13. Determine the amount of manufacturing...
At the beginning of the year, manufacturing overhead for the year was estimated to be $702,540....
At the beginning of the year, manufacturing overhead for the year was estimated to be $702,540. At the end of the year, actual direct labor-hours for the year were 33,100 hours, the actual manufacturing overhead for the year was $697,450, and manufacturing overhead for the year was overapplied by $40,680. If the predetermined overhead rate is based on direct labor-hours, then the estimated direct labor-hours at the beginning of the year used in the predetermined overhead rate must have been:...
At the beginning of the year, manufacturing overhead for the year was estimated to be $764,325....
At the beginning of the year, manufacturing overhead for the year was estimated to be $764,325. At the end of the year, actual direct labor-hours for the year were 36,250 hours, the actual manufacturing overhead for the year was $740,000, and manufacturing overhead for the year was overapplied by $39,375. If the predetermined overhead rate is based on direct labor-hours, then the estimated direct labor-hours at the beginning of the year used in the predetermined overhead rate must have been:...
At the beginning of the year, manufacturing overhead for the year was estimated to be $859,200....
At the beginning of the year, manufacturing overhead for the year was estimated to be $859,200. At the end of the year, actual direct labor-hours for the year were 36,300 hours, the actual manufacturing overhead for the year was $830,000, and manufacturing overhead for the year was overapplied by $41,200. If the predetermined overhead rate is based on direct labor-hours, then the estimated direct labor-hours at the beginning of the year used in the predetermined overhead rate must have been:...
At the beginning of the year, manufacturing overhead for the year was estimated to be $897,500....
At the beginning of the year, manufacturing overhead for the year was estimated to be $897,500. At the end of the year, actual direct labor-hours for the year were 36,320 hours, the actual manufacturing overhead for the year was $860,000, and manufacturing overhead for the year was overapplied by $48,000. If the predetermined overhead rate is based on direct labor-hours, then the estimated direct labor-hours at the beginning of the year used in the predetermined overhead rate must have been:...
At the beginning of the year, manufacturing overhead for the year was estimated to be $1,033,125....
At the beginning of the year, manufacturing overhead for the year was estimated to be $1,033,125. At the end of the year, actual direct labor-hours for the year were 36,390 hours, the actual manufacturing overhead for the year was $972,000, and manufacturing overhead for the year was overapplied by $65,115. If the predetermined overhead rate is based on direct labor-hours, then the estimated direct labor-hours at the beginning of the year used in the predetermined overhead rate must have been:...
. At the beginning of the year, Corp.'s manufacturing overhead for the year was estimated to...
. At the beginning of the year, Corp.'s manufacturing overhead for the year was estimated to be $936,000. At the end of the year, actual direct labor-hours for the year were 36,340 hours, the actual manufacturing overhead for the year was $890,000, and manufacturing overhead for the year was overapplied by $54,840. If the predetermined overhead rate is based on direct labor-hours, then the estimated direct labor-hours at the beginning of the year used in the predetermined overhead rate must...
The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details...
The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted direct labor-hours 9,800 9,100 9,400 10,200 The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $4.25 per direct labor-hour and its total fixed manufacturing overhead is $66,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation,...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT