Business, 31.08.2021 04:40, lucifer6669
Lkerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $300,000 for the year, and machine usage is estimated at 125,000 hours.
For the year, $322,000 of overhead costs are incurred and 130,000 hours are used.
Compute the manufacturing overhead rate and under- or overapplied overhead.
Instructions
a. Compute the manufacturing overhead rate for the year.
b. What is the amount of under- or overapplied overhead at December 31?
c. Prepare the adjusting entry to assign the under- or overapplied overhead for the year to cost of goods sold.
Answers: 3
Other questions on the subject: Business
Business, 22.06.2019 15:30, TerronRice
In 2015, lori assigned a paid-up whole life insurance policy to an irrevocable life insurance trust (ilit) for the benefit of her three children. the ilit contained a crummey provision for the benefit of each child. at the time of the transfer, the whole life insurance policy was valued at $200,000, and since lori had not made any other taxable gifts during her lifetime, she did not owe any gift tax. lori died in 2016, and the face value of the whole life insurance policy of $2,000,000 was paid to the ilit. regarding this transfer, how much is included in lori’s gross estate at her death?
Answers: 1
Business, 22.06.2019 19:00, whitbol
The demand curve determines equilibrium price in a market. is a graphical representation of the relationship between price and quantity demanded. depicts the relationship between production costs and output. is a graphical representation of the relationship between price and quantity supplied.
Answers: 1
Do you know the correct answer?
Lkerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead co...
Questions in other subjects:
English, 03.12.2020 20:10
Mathematics, 03.12.2020 20:10
Medicine, 03.12.2020 20:10
English, 03.12.2020 20:10
Mathematics, 03.12.2020 20:10
