Compute and calculate the predetermined overhead rate

Assignment Help Accounting Basics

Reference no: EM132703431

Kevin Corporation developed the following budgeted costs for the year:

Direct materials P 120,000

Direct labor 330,000

Factory overhead 429,000

Total P 879,000

The following activity bases were also budgeted for the year:

Labor hours 9,600

Machine hours 6,000

Units to be produced 12,000

Based on the current backlog, Kevin expects to produce 3,500 units during the first quarter that requires 2,600 labor hours and 1,700 machine hours. For this production, Kevin incurred direct materials of P 38,000 and direct labor of P 94,000.

Required:

Problem 1: Calculate the predetermined overhead rate

Reference no: EM132703431

Questions Cloud

Public Speaking Touchstone Assignment : Public Speaking Touchstone Assignment - What is the correct context for the speech? Where and when will it be given? What are the interests of the audience

Calculate the variances for manufacturing costs of omalley : O'Malley Company manufactures a single product. Calculate the variances for the manufacturing costs of O'Malley for the most recent month.

What are the risks of cooperative strategies : What incentives exist to influence a firm to engage in international trade?

Prepare the lease-related entries m should make : If it is a long-term lease, determine if it is a long-term finance lease or a long-term operating lease. Prepare the lease-related entries M should make on

Compute and calculate the predetermined overhead rate : Based on the current backlog, Kevin expects to produce 3,500 units during the first quarter that requires 2,600 labor. Calculate the predetermined overhead rate

How much is the total applied overhead for the year : During the year ended 2014, Predetermined overhead rate per direct labor hour was P6.00. How much is the total applied overhead for the year?

Determine what total overhead of the company is : What Total overhead of the company is? predetermined overhead rate of P 3.00 per machine hour. Company worked 200,000 machine hours during the period.

Customer Relationship Management Issues : Research the CRM Practices of a company of your choice and complete an audit report on your findings - understanding of Customer Relationship Management Issues

Importance of having a strong corporate culture : The term "the importance of having a strong corporate culture" is being used more frequently now than in the past!

User Account

All Pages