Solution-Compute the budgeted manufacturing overhead rate

Compute the budgeted manufacturing overhead rate

Assignment Help Managerial Accounting

Reference no: EM132873976

Problem - Consider the following selected cost data for the Bharat Forge Co, for the current year:

Budgeted manufacturing overhead 90,00,000

Budgeted machine-hours 2,00,000

Actual Labour hours 1,20,000

Actual manufacturing overhead 88,00,000

Actual Machine-hours 1,95,000

The company uses normal costing. Its job costing system has a single manufacturing overhead cost pool. Costs are allocated to jobs using a budgeted machine-hour rate.

Required -

1. Compute the budgeted manufacturing overhead rate.

2. Compute the amount of under or over-application of manufacturing overhead.

3. Brie?y write the methods of disposition (adjustments) of the over or under-application of manufacturing overhead at the end of the period.

4. Find out the cost of the Job 2X3 if it consumes 800 machine hours and 700 labour hours and the material and labour costs are 3 34,000 and 323,000 respectively.

Reference no: EM132873976

Questions Cloud

What total amount should be reported as share capital : October 31 Issued a 10% share dividend when the market value of a share is P25. What total amount should be reported as share capital at year-end

Knowledge of human development and behavior : - What are three areas related to social and technological trends that are likely to provide interesting challenges and opportunities for social workers over th

Bridging the generation gap in a non-traditional mentorship : Read the article Two Cultures Collide: Bridging the Generation Gap in a Non-traditional Mentorship

Develop an evaluation proposal : Develop an evaluation proposal, suitable for submission to a funding organization. You will select an existing program to evaluate or design.

Compute the budgeted manufacturing overhead rate : Consider the following selected cost data for the Bharat Forge Co, for the current year: Compute the budgeted manufacturing overhead rate

Prepare all pension related entries : Long term discount rate applied: 3%; no change from the 2013 assessment. Prepare all pension related entries

How do i generate alternative solutions : How do I generate alternative solutions based on the issues being negotiated?

Determine the total cash collections on installment sales : Those jet skis had a fair value of $142,500 at the time they were repossessed. Determine the total cash collections on installment sales

How much is the grt on march rentals : For the month of April, Ballada Bank had the following income: Interest income with maturity of 5 years P100,000. How much is the GRT on March rentals

User Account

All Pages

Compute the budgeted manufacturing overhead rate

Reference no: EM132873976

Reference no: EM132873976

Questions Cloud

Reviews

Write a Review

Managerial Accounting Questions & Answers

Manage budgets and financial plans

Prepare a retained earnings statement

Prepare a master budget for the three-month period

Construct the companys direct labor budget

Evaluate the predetermined overhead rate

Determine the company''s bid

Compute the pool rates for the different activities

Prepare Company financial statements

Prepare an analysis of terracycles

Discuss the ethical issues

Political resources in emerging markets

Management accounting - ehsan electronics company

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT