At the beginning of the year the estimated direct

Assignment Help Accounting Basics
Reference no: EM13480374

1.Crichman Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 14,900 hours and the total estimated manufacturing overhead was $362,070. At the end of the year, actual direct labor-hours for the year were 16,000 hours and the actual manufacturing overhead for the year was $357,070. Overhead at the end of the year was:

a. 31730 overapplied

b. 26730 overapplied

c. 31730 underapplied

d. 26730 underapplied

2.Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $239,700 and 4,700 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $242,000 and actual direct labor-hours were 4,600.
The applied manufacturing overhead for the year was closest to

a.  229586

b.  234600

c.  242006

d.  236854

Reference no: EM13480374

Questions Cloud

Briefly describe and summarize what each essay says give a : the first task consists of reading two essays by lyuba encheva and david halle respectively.a memory in digital
Compute the amount of funds that needs to be borrowed : problem 1. at the beginning of 2010 gonzales companys accounting records had the general ledger accounts and balances
Rediger inc a manufacturing company has provided the : 1.hamilton company uses job-order costing. manufacturing overhead is applied using a predetermined rate of 150 of
Compare the gaap and economic balance sheets use the same : compare the gaap and economic balance sheets.use the same company you studied in unit 1 to accomplish these tasksusing
At the beginning of the year the estimated direct : 1.crichman corporation uses direct labor-hours in its predetermined overhead rate. at the beginning of the year the
After the bank reconciliation is complete which : after the bank reconciliation is complete which adjustments are recorded in the accounting records? what do you think
Your brother is short on cash and cannot pay his rent this : 1.your brother is short on cash and cannot pay his rent this month. you pay his rent for him. is this taxable income
The percentage of uncollectible sales is 15 percent of net : during 2014 deluca company had net sales of 5700000. most of the sales were on credit. at the end of 2014 the balance
Case study gucci group-freedom within the framework 1 : case study gucci group-freedom within the framework1. provide a brief summary of the case.2. why did gucci create a

Reviews

Write a Review

Accounting Basics Questions & Answers

  Operating leverage differ in manufacturing

How does operating leverage differ in manufacturing, service, merchandising, and e-commerce organizations?

  Shares of no-par common stock

A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $43,500. The stock has no stated value.

  Fasb codification-inventory research

What is the formal definition in the glossary of the term "Inventory?" What is the Codification topic number for inventory? What types of entities are not covered by the guidance in the Inventory Topic? (Provide the Codification reference for your ..

  What are the limitation,uniqueness

What are the limitation,uniqueness and two illustration of bank reconciliation.

  Problem regarding sale of common stock

Firm X needs to net $7,800,000 from the sale of common stock. Its investment banker has informed the firm that the retail price will be $22 per share, and that the firm will receive $19 per share. Out-of-pocket costs are $100,000. How many shares ..

  Double taxation and marginal tax

Before considering the dividend, Bob is in the 10% marginal tax bracket and Leo is in the 28% marginal tax bracket. Which of the following statements is incorrect?

  Determining the income tax payable

The estimated litigation expense of $1,000,000 will be deductible in 2011 when it is expected to be paid. Use of the depreciable assets will result in taxable amounts of $500,000 in each of the next three years. The income tax rate is 30% for all ..

  Price and constant growth rate of stock

Philly Corp's stock recently paid a dividend of $2 per share (Do = $2), and the stock is in equilibrium. The company has a constant growth rate of 5% and a beta of 1.5. The required rate of return on the market is 15%

  Transfer prices and divisional profits

A chair manufacturer has two divisions: framing and upholstering. The framing costs are $100 per chair and the upholstering costs are $200 per chair. What is the minimum transfer price for this company?

  Flexibility of practice when applied to managerial

flexibility of practice when applied to managerial accounting means thata. the information must be presented in

  Test for detemining us residence

Compare the so called test for detemining US residence in section 7701 (b) and the myraid of exceptions and special rules used in applying such tests with the facts and circumstances approached used under prior law..

  Amount of federal income taxes

Cal Ruther, an employer, is subject to FICA taxes but exempt from FUTA and SUTA taxes. During the last quarter of the year, his employees earned monthly wages of $8,500, all of which is taxable. The amount of federal income taxes withheld each mon..

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