Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Problem - Manufacturing Overhead
Pomona Pasteurizing Inc. used a predetermined overhead rate based on direct labor hours, but switched this year to one based on direct machine hours to apply manufacturing overhead to jobs. Production supervisors estimated that 16,715 direct labor hours will be worked during the year. Engineering estimated that the total machine hours for the year would be 66,860. The predetermined overhead rate will be? The company's estimated costs for the next year are:
Cost item
Amount
Depreciation of Factory Equipment
$72,000
Direct Labor
240,000
Direct Materials
36,000
Factory Equipment Lease
144,000
Factory Maintenance
180,000
Indirect labor
72,000
Sales Salaries
174,000
Total Estimated Overhead
918,000
Estimated Labor Hours
16,715
Estimated Machine Hours
66,860
At the end of the year, the actual machine hours were 67,200 and the total actual manufacturing overhead was $179,840.
1. Calculate the Manufacturing Overhead balance at the end of the year and the journal entry to clear this amount if necessary.
Discuss the way in which BHP Billiton has demonstrated its social and environmental accountability and discuss the stance and initiatives of the Australian accounting profession on corporate social responsibility
New Public Management is becoming the dominant managerial approach in the United States. As a Council member, I certainly saw a movement towards NPM in some administrative areas of the city, but in others the more traditional approach remained.
Many businesses are moving to Activity-Based Costing for improved costing accuracy as compared to conventional costing procedures. Explain why activity-based costing is considered to provide more accurate results
The Vice President of Operations would like to increase profitability, improve customer service, and expand the business. Discuss the role of performance measures in an organization.
Review the 2012 annual report of any (one) national aircraft company (listed in the Australian/ Malaysian or Chinese Stock Exchange) and comment on its depreciation policy in estimating the useful lives of long-lived assets, such as aircraft used ..
Explain the concept of break-even point and what is it an important tool in business planning- Managerial accounting supports the management process most significantly
Midlands Design Ltd. of Manchester, England, is a company specializing in providing design services to residential developers. Compute the company's residual income for the year.
Reed company employs a standard costing system. Manufacturing overhead is applied to products based on machine hours (MH). Employ the following information to make the needed calculations:
CP has decided to introduce the new product which can be manufactured by either a computer assisted manufacturing system or labor intensive production system. The manufacturing technique will not affect the quality of product. The estimated manufa..
use strategic management principles and technologies in making and assessing business decisions for profit and not for profit organisations and evaluate and use quantitative and qualitative information to measure financial and non financial perfor..
You've been appointed as an executive director of small nonprofit organization. Among your many duties are to estimate an annual budget and develop a fiscal plan for organization.
Expected manufacturing costs for Imperial Data Devices are as follows: Estimate manufacturing costs for production levels of 11,000 units, 13,500 units, and 16,000 units per month.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd