Business, 16.06.2020 19:57, raulhill98
Smith Foundry in Columbus comma Ohio, uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the beginning of the year, the company expected to incur the following:
Manufacturing overhead costs $630,000
Direct labor cost 1650,000
Machine hours 90,000
Direct labor cost $1230,000
Depreciation on manufacturing plant and equipment 480,000
Property taxes on plant 19,500
Sales salaries 26,500
Delivery drivers' wages 17,000
Plant janitors' wages 8500
Machine hours 56,500 hours
Requirements:
1. Compute Smith's predetermined manufacturing overhead rate.
2. How much manufacturing overhead was allocated to jobs during the year?
3. How much manufacturing overhead was incurred during the year? Is manufacturing overhead underallocated or overallocated at the end of the year? By how much?
4. Were the jobs overcosted or undercosted? By how much?
Answers: 1
Business, 22.06.2019 22:00, brad7330
Brody corp. uses a process costing system in which direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. beginning inventory for january consisted of 1,050 units that were 65% completed. 10,900 units were started into the process during january. on january 31, the inventory consisted of 500 units that were 50% completed. what would be the equivalent units for direct materials cost using the weighted average method?
Answers: 2
Business, 22.06.2019 23:30, bearbri4520
The upper-level managers of synergy technology are meeting for the week to look at the long-term company goals and overall direction of the organization. the ceo has expressed her concern over the economy and has told her managers to look closely at the environment outside the organization before making decisions and to be future oriented. in this meeting, top managers of synergy are
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Smith Foundry in Columbus comma Ohio, uses a predetermined manufacturing overhead rate to allocate o...
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