User Account

All Pages

Calculate the number of hours of direct labor

Assignment Help Accounting Basics
Reference no: EM131811902

Question - Manufacturing overhead-over/underapplied LampArt Co. makes specialty table lamps. Manufacturing overhead is applied to production on a direct labor hours basis. During the first month of the company's fiscal year, $173,250 of manufacturing overhead was applied to Work in Process Inventory using the predetermined overhead application rate of $15 per direct labor hour.

Required:

a. Calculate the number of hours of direct labor used during November.

b. Actual manufacturing overhead costs incurred during November totaled $166,425. Calculate the amount of over- or underapplied overhead for November.

c. Identify two possible explanations for the over- or underapplied overhead.

d. Explain the accounting appropriate for the over- or underapplied overhead at the end of November.

Reference no: EM131811902

Questions Cloud

Payback cutoff of three years : If the company has the following two projects available, should it accept either of them?
Can we conclude that the single-earner couples on average : For the dual-earner couples, the mean number of minutes spent watching television was 48.4 minutes, with a standard deviation of 18.1 minutes.
Discuss what was the net decrease in grimms retained : As a result of the property dividend, what was the net decrease in Grimm's retained earnings at December
Formulate a persuasive paragraph trying to convince someone : You are going to formulate a persuasive paragraph trying to convince someone on your point of view. If you like, you can use the topic, Should we eat meat?"
Calculate the number of hours of direct labor : Calculate the number of hours of direct labor used during November. Explain the accounting appropriate for the over- or underapplied overhead
Perform a hypothesis test of all european tennis fans : Perform a hypothesis test to determine if it is reasonable to conclude that the percentage of all European tennis fans who believed that Federer.
Six measures of solvency or profitability : The following data were taken from the financial statements of Olvideo Enterprises Inc. for the current fiscal year.
How you would go about finding a networking related job : Describe how you would go about finding a computer networking related job position and explain why you feel that approach would work best for you.
Journalize the necessary adjusting entry : Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends on Wednesday.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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