User Account

All Pages

Calculate the factory overhead application rate

Assignment Help Accounting Basics
Reference no: EM131623855

Question: Cost and production data for a manufacturing company for a year were as follows:

Budgeted variable factory overhead $120,000

Budgeted fixed factory overhead $180,000 $300,00

Budgeted production (direct labour hours) 15,000

Actual variable factory overhead $125,300

Actual fixed factory overhead $164,700 $290,000

Actual production (direct labour hours) 15,500

Factory overhead is applied to production using direct labour hours as the cost driver.

Required:

(a) Calculate the factory overhead application rate, and,

(b) Under or over applied overhead.

Reference no: EM131623855

Questions Cloud

Describe two to three examples of human service careers : Describe two to three examples of human service careers that are aligned with your selected social issue in some capacity.
Outline key requirements of management information systems : Outline the key requirements of Management Information Systems
What is the total pvccats if we use the long formula : Assume that salvage value at the end of Year 5 is $1,000. What is the total PVCCATS if we use the long formula? What is the printer's internal rate of return?
What are the accounting and reporting guidelines : What are the accounting and reporting guidelines for a change in accounting principle related to depreciation methods?
Calculate the factory overhead application rate : Cost and production data for a manufacturing company for a year were as follows: Calculate the factory overhead application rate
What is the break-even in patient days for this nursing home : Your nursing home defines output as a patient day. What is the break-even in patient days for this nursing home, assuming no profit is required
Discuss examinations are not enjoyed : Discuss Examinations are not enjoyed, It has been determined that your license should be revoked
Prepare entries to close the firm income summary account : Prepare entries to close the firm's Income Summary account as of december 31, and to allocate the net income to the partners
What is the time value of your put option : 1. You bought a call option with a strike price of $45 on Fox stocks that are currently selling at $55 a share. The call option is trading at $4.50.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the period that government paid itnerest runs

On April 3, 2008, Mark filed his 2007 Income tax return, which showed a tax due of $80,000. On June 1, 2010, he filed an amended retrun for 2007 that showed an additional tax of $10,000. Mark paid the additional amount. On May 18, 2011, Mark filed..

  Investing and financing activities

Looking forward to next year, if Chester's current cash balance is $19,743 (000) and cash flows from operations next period are unchanged from this period, and Chester takes ONLY the following actions relating to cash flows from investing and fina..

  What is the sarbanes-oxley act

What is the Sarbanes-Oxley Act? How does act affect the audits for the accounting firm and for the organization? Has the Sarbanes-Oxley Act improved the quality of the audit? Answer in 150-200 words.

  Wells water systems recently reported 8250 of sales 4500 of

wells water systems recently reported 8250 of sales 4500 of operating costs other than depreciation and 950 of

  What are some business decisions that managers could make

what are some business decisions that managers could make? what tools will they use to make recommendations regarding

  Provide definition of the economics and monetary policy

Provide a short discussion or definition of the following terms: economics, finance, the financial system, net lenders, net borrowers, direct and indirect finance, financial markets.

  Custome truck bilders frequently uses long term lease

custome truck bilders frequently uses long term lease contracts to finance the sale of its trucks. on november 1 2011

  Silverado company purchased equipment having an invoice

1. a gain is recognized on the disposal of plant assets whena the sales price is greater than the residual value but

  Company n has a 5-year note payable that will mature on

company n has a 5-year note payable that will mature on march 17 2012. company n has an agreement with a local bank to

  What are the advantages to the acquiring entity

What are the advantages to the shareholders in a target entity that is acquired via taxable stock acquisition vs. a taxable acquisition of net assets? What are the advantages to the acquiring entity?

  Cash flow calculations and net present value

On January 2, 20X1, Bruce Greene invested $10,000 in the stock market and purchased 500 shares of Heartland Development, Inc. Heartland paid cash dividends of $2.60 per share in 20X1 and 20X2; the dividend was raised to $3.10 per share in 20X3.

  If preble had purchased 170000 pounds of materials at 750

preble company manufactures one product. its variable manufacturing overhead is applied to production based on direct

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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