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Accounting for manufacturing overhead. Consider the following selected cost data for the Pittsburgh Forging Company for 2008.Budgeted manufacturing overhead costs $7,500,000Budgeted machine-hours 250,000Actual manufacturing overhead costs $7,300,000Actual machine-hours 245,000
The company uses normal costing. Its job-costing system has a single manufacturing overhead cost pool. Costs are allocated to jobs using a budgeted machine-hour rate. Any amount of under- or over allocation is written off to Cost of Goods Sold.
1. Compute the budgeted manufacturing overhead rate.2. Prepare the journal entries to record the allocation of manufacturing overhead.3. Compute the amount of under- or over allocation of manufacturing overhead. Is the amount material?Prepare a journal entry to dispose of this amount
Donkey Company manufactures two products, Standard and DeLuxe. Donkey's overhead costs consist of machining, $2,000,000; and assembling, $1,000,000. Information on the two products is:
Applies the equity method of accounting.
What would be the flexible budget amounts at an activity level of 12,000 machine hours if indirect materials is a variable cost and factory rent was a fixed cost?
Explain the history of corporate accounting responsibility
Valdivieso Roofing is considering the purchase of a crane that would cost $137,885, would have a useful life of 9 years, and would have no salvage value. The use of the crane would result in labor savings of $23,000 per year. The internal rate of ..
fores construction company reported a pretax operating loss of 260 million for financial reporting purposes in 2013.
investors are virtually interested in a companys sales and profits and its trends of sales and profit over time.
a. What is the amount of his adjusted gross income?
If pension expense recognized in a period exceeds the current amount funded by the employer, what kind of account arises, and how should it be reported in the financial statements?
1) Fixed costs are determined at the "normal"/"planned" volume level. At any other level of volume, total fixed costs don't change (so by default, fixed costs per unit are different at any different volume).
a co. wants to earn a target net income of 300000 during 2011. the variable costs are expected to be 25 of sales and
which has very large E&P, distributes $540,000 in redemption of 300 shares of XYZ Company stock from Ed's estate. What is the estate's income from the redemption?
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