A company allocates overhead at a rate

Assignment Help Managerial Accounting
Reference no: EM13911030

A company allocates overhead at a rate of 150% of direct labor cost. Actual overhead cost for the current period is $ 950,000, and direct labor cost is $ 600,000. Prepare the entry to close over or under applied overhead to cost of goods sold.

Reference no: EM13911030

Questions Cloud

Calculate the depreciation tax shield for project : Your firm needs a computerized machine tool lathe which costs $41,000 and requires $11,100 in maintenance for each year of its 3-year life. After three years, this machine will be replaced. Calculate the depreciation tax shield for this project in ye..
What tools are available to help shoppers compare prices : What tools are available to help shoppers compare prices, features, and values and check other shoppers opinions?
What is the after-tax cash flow from the sale of equipment : Quick Computing installed its previous generation of computer chip manufacturing equipment 3 years ago. Some of that older equipment will become unnecessary when the company goes into production of its new product. What is the after-tax cash flow fro..
What is disintermediation? what advantages does it present : What is disintermediation? What advantages does it present?
A company allocates overhead at a rate : A company allocates overhead at a rate of 150% of direct labor cost.
Compare the u.s. dollar volume of b2b, b2c, and mobile : Compare the U.S. dollar volume of B2B, B2C, and mobile e-commerce. How does the volume of U.S. B2C compare to the global volume?
Calculate the-mortgage constant-annual debt service-egi : You borrow $75,000 for 30 years at 11% interest compounded annually. The value of the property is $100,000, PGI= $20,000, vacancy rates are 8%, and operating expenses are $8,100. Calculate the -Mortgage constant -Annual Debt Service -EGI, NOI, BTCF -..
Currently hold market index portfolio : Based on current dividend yields and expected capital gains, the expected rates of return on portfolios A and B are 12.5% and 14.7%, respectively. The beta of A is .7, while that of B is 1.3. The T-bill rate is currently 7%, while the expected rate o..
Electronic commerce based on the parties involved : Briefly define the term electronic commerce, and identify five forms of electronic commerce based on the parties involved in the transactions.

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Powerpoint presentation on topic of costing

Task is to make a 10-12 powerpoint presentation on topic of costing. Explaining what needs to be done to project profits using the traditional income statement if sales were to increase 20%

  The direct labor efficiency variance

The standard direct labor cost for producing one unit of product is 5 direct labor hours at a standard rate of pay of $8. Last month, 5,000 units were produced and 24,500 direct labor hours were actually worked at a total cost of $180,000. The direct..

  Prepare a trial balance at august

Post the transactions to T accounts and prepare a trial balance at August 31, 2012.

  Calculate the total direct labor cost for the quarter

Calculate the total direct labor cost for the quarter if the company follows its no lay-off policy, but pays time-and-a-half for every hour worked in excess of 960 hours in a month?

  Classification of cost what are the ways in which cost be

what are the ways in which cost be be classified to suit management needs.give examples of the

  Prepare a balance scorecard for resource by stating mission

Prepare a balanced scorecard for Resource by stating the college's mission and matching its four objectives to the four stakeholder perspectives.

  Calculate the contribution margin ratio

Calculate the break-even in units - calculate the contribution margin ratio and calculate the break-even in sales dollars.

  Compute arrows direct material variances

Compute Arrows direct material variances and compute Arrow's direct labor variances and prepare a flexible budget for 20,000, 22,500, and 25,000 units of activity.

  Division of hewlett-packard

Assume a division of Hewlett-Packard currently makes 12,000 circuit boards per year used in producing diagnostic electronic instruments at a cost of $37 per board, consisting of variable costs per unit of $25 and fixed costs per unit of $12. Further ..

  Sensitivity analysis with profit target

Compute the number of gizmos needed to break even under present price and cost conditions. Compute how many units would have to be sold to meet the profit target for each of suggested options

  Direct costing-allocation of costs-period cost

Costs may be allocated to a product or activity for many purposes, but care must be exercised when using allocated costs because:

  Analyse potential effects of recent developments in business

Analyse the potential effects of recent developments in the business or public sector environments on the relevance of management accounting systems.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd