User Account

All Pages

Tanner bay inc has two departments assembly and packaging

Assignment Help Accounting Basics
Reference no: EM13367662

Tanner Bay Inc. has two departments, Assembly and Packaging. The company uses a job-order costing system and computes a predetermined overhead rate in each department. The Assembly Department bases its rate on machine hours and the Packaging Department bases its rate on direct labor hours. At the beginning of the year, the company made the following estimates:

Assembly Packaging
Direct labor hours 3,000 4,000
Machine-hours 8,500 9,900
Manufacturing overhead cost $144,500 $172,000
Direct labor cost $89,200 $101,000

Assume also the following data on Job #503 which was started and completed during the year:

Assembly Packaging
Direct labor hours 23 37
Machine-hours 109 142
Materials Requisitioned $8,787 $6,566
Direct labor cost $2,100 $1,990

What is the predetermined overhead rate to be used in each department? Show computations.

Reference no: EM13367662

Questions Cloud

Strategic hr managementselect a health care organization : strategic hr managementselect a health care organization for which you would like to work or for which you currently
Formulating a cost minimizing lp modelthe trainer for a : formulating a cost minimizing lp modelthe trainer for a local football team has been asked to develop a nutritional
Securing databasesexplain why is data security important : securing databasesexplain why is data security important now more than ever and what are some of the steps that we can
Should managers e subject to sensitivity trainingthere are : should managers e subject to sensitivity training?there are always times when managers have to correct their employees
Tanner bay inc has two departments assembly and packaging : tanner bay inc. has two departments assembly and packaging. the company uses a job-order costing system and computes a
Explain about strategic management - vertical : explain about strategic management - vertical integrationunder what circumstances might a long-term strategic alliance
Value of security and control1 what is the business value : value of security and control1. what is the business value of security and control? discuss.2. discuss how the
Mental model mindsetare mindsets simply shortcuts do we : mental model mindsetare mindsets simply shortcuts? do we really have time to be open-minded to every situation and
Show optimal storage spacea tire manufacturer is planning : show optimal storage spacea tire manufacturer is planning to introduce a new type of tire that is specifically designed

Reviews

Write a Review

Accounting Basics Questions & Answers

  General journal entries for beverly crusher

Beverly Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred.

  Maximum rate which it would be taxed

Ted Thomas, single taxpayer with no dependents, has the following transactions in 2010

  Calculate the breakeven point in units

Jack and Jill Company produces two products, X and Y. X sells for $10/unit and Y sells for $20/unit. The products have a variable cost of $9 for X and $14 for Y. Last year the company sold 10,000 units of X and 40,000 units of Y. Fixed costs are a..

  What was the balance in work in process inventory

What was the balance in Work in Process Inventory onJuly 1 if these were the only unfinished jobs? What was the predetermined overhead rate in June ifoverhead was applied on the basis of direct labor cost?

  Evaluate the risk management measures

Describe the risks which are faced by the firm. Evaluate the risk management measures available to firm.

  Disclosure requirements for nonprofit organizations

Explain disclosure requirements for nonprofit organizations, such as the tax-exempt determination letters required by Congress and the IRS. Discuss the reasons for these disclosure requirements and the sentiments of the public and government abou..

  Compute any passive investment income tax penalty

In 2012 Sweetwater's excess net passive income is $42,000. Sweetwater holds $31,000 of accumulated earnings and profits from a C corporation year.

  Advantages of the four different special journals

What are the advantages of the four different special journals? When would you use each type? What is a subsidiary ledger and what purpose does it serve?

  Subject of a major financial scandal

One month later, the bank's losses become the subject of a major financial scandal. Benny is mad and wants to sue. Does Benny have a case? Explain.

  What is the amount of adoption credit they can claim

jesus and mindy whose modified AGI is 200,000 adopted a girl from Miami florida and incurred a total of 18,000 in qualified adoption expenses what is the amount of adoption credit they can claim?

  Differentiate restricted funds in nonprofits and governments

Differentiate between accounting for restricted funds in nonprofits and governments. Examine some of the possible reasons GASB issued statement 54 clarifying the reporting and classification of funds for governmental accounting.

  What is xenon alternative minimum tax

Xenon Corporation has $112,000 of regular taxable income, $68,000 of preference items, $98,000 of positive adjustments, and $36,000 of negative adjustments that affect its determination of alternative minimum taxable income. What is Xenon's altern..

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: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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