Entry to assign overhead

Assignment Help Accounting Basics
Reference no: EM13150996

Price Manufacturing assigns overhead based on machine hours. Department A logs 1,200 machine hours and Department B shows 2,000 machine hours for the period. If the overhead rate is $5 per machine hour, the entry to assign overhead will show a:

a) debit to Manufacturing Overhead for $16,000.

b) credit to Work in Process?Department B for $10,000.

c) debit to Work in Process for $10,000.

d) credit to Manufacturing Overhead for $16,000.

Reference no: EM13150996

Questions Cloud

Accounting treatment and disclosures : Discuss fully the accounting treatment and disclosures that should be accorded the casualty and related contingent losses in the financial statements dated December 31, 2003.
Explain maltitol is a molecular solid and does not ionize : what is the maximum mass of maltitol (C12H24O11) you can add to 2.00 kg of pure water and still have the solution freeze? Assume that maltitol is a molecular solid and does not ionize when it dissolves in water.
Create shape of distribution-frequency distribution table : construct a frequency distribution table and describe the shape of the distribution, what score identifies the center for the distribution and are the scores clustered or spread across the scale?
How would you change the organizational architecture : none of the employees makes the effort to do so. How would you change the organizational architecture of the firm to raise profitability?
Entry to assign overhead : Price Manufacturing assigns overhead based on machine hours. Department A logs 1,200 machine hours and Department B shows 2,000 machine hours for the period. If the overhead rate is $5 per machine hour, the entry to assign overhead will show a:
What was the pressure of the hydrogen gas : hydrogen gas was collected over water in a eudiometer at 26 degrees c when the atmospheric pressure was 726 mm hg. What was the pressure of the hydrogen gas?
Describe the positive and negative impacts social regulation : Provides a detailed and well-supported explanation of the justification for natural monopolies according to economic theory.
Conditional probability that student has work experience : Suppose that you are told that this student has at least three years of work experience. What is the conditional probability that this student has at least for years of work experience.
Managerial reporting of standard variance basics : Question: Should this managerial reporting of standard variance practice be permitted to continue? If not why and what affects does this accounting practice have on the company and its investors?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Expenditures for supplies

During the year the City ordered and received $4,000 of supplies (of which $3,000 had been paid and $1,000 was unpaid) and had $500 of outstanding purchase commitments for supplies at year-end. In the Statement of Budget to Actual, the expenditure..

  What is the amount due on the note

MixRecording Studios purchased 7,800 in electronics components from TechCom. MixRecording Studio signed a 60-day, 10% promissory note for 7,800. If the note is dishonored, what is the amount due on the note?

  Compute the full taxable income

Find out the amount of Milt's income which is subject to income tax by each state. Make sure to compute the full taxable income and show all computations.

  Deduction in the property tax

The real property tax year in Adams County is the calendar year. The real property tax becomes a person liability of the owner of real property on January 1 in the current real property tax year 2009.

  Computing bond intrest expense over bond life

Sears issuses 4.5% five-year bonds dated january 1, 2010, with $230,000 par value. The bonds pay intrest on june and december 31 and are issued at a price of $235,160. The annual market rate is 4% on the issued date. Calculate the total bond intre..

  Goverments required supplementary information

Which of the following are consedered an optional presentation within a goverments required supplementary information.

  Total present value of the investment

The net present value of the investment, excluding the intangible benefits, is -$326,237. To the nearest whole dollar how large would the annual intangible benefit have to be to make the investment in the aircraft financially attractive?

  Cynthia income from fitness design

Fitness Design reports taxable income of $70,000 and pays $60,000 in dividends to shareholders before considering payments to Cynthia. Cynthia receives a $75,000 salary. What is Cynthia's income from Fitness Design?

  Journal entry to record pension expense

Compute the amount of pension expense to be reported for 2008 (show computations) Prepare the journal entry to record pension expense and the employer's contribution for 2008. Assume no new actuarial gains/losses were experienced and that actual re..

  Property in complete liquidation

In the current year, Orion Corporation (E & P of $2 million) distributes all of its property in complete liquidation. Allie, a shareholder, receives land having a market value of $300,000.

  Compute depletion and depreciation of the mine

In 2011, the Marion Company purchased land containing a mineral mine for $1,450,000. Additional costs of $600,000 were incurred to develop the mine. Geologists estimated that 400,000 tons of ore would be extracted. After the ore is removed, the la..

  Controller''s computation of earnings per share for the year

On the basis of the information above, do you agree with the controller's computation of earnings per share for the year? If you disagree, prepare a revised computation of earnings per share

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!

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