POHR, Managerial Accounting

Assignment Help:
#questioExercise 3-12 Computing Predetermined Overhead Rates and Job Costs [LO1, LO2, LO3, LO7]
Kody Corporation uses a job-order costing system with a plantwide overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates:


Machine-hours required to support estimated production 150,000
Fixed manufacturing overhead cost $ 750,000
Variable manufacturing overhead cost per machine-hour $ 4.00

Required:
1.
Compute the predetermined overhead rate. (Omit the "$" sign in your response.)

Predetermined overhead rate $ per MH

2.
During the year Job 500 was started and completed. The following information was available with respect to this job:


Direct materials requisitioned $ 350
Direct labor cost $ 230
Machine-hours used 30


Compute the total manufacturing cost assigned to Job 500. (Omit the "$" sign in your response.)

Total manufacturing cost $

3-a.
During the year the company worked a total of 147,000 machine-hours on all jobs and incurred actual manufacturing overhead costs of $1,325,000. What is the amount of underapplied or overapplied overhead for the year? (Input the amount as a positive value. Omit the "$" sign in your response.)n..

Related Discussions:- POHR

Illustration of optimum cash balance, M/s Sunrise Industries estimates its ...

M/s Sunrise Industries estimates its net cash requirement at Rs. 20 million for the subsequent year. Opportunity cost fund is 15 percent per annum of the Companies. The company wil

What is ratio analysis, Ratio analysis A ratio is a simple arithmetical...

Ratio analysis A ratio is a simple arithmetical expression of the relationship of one number to another. It may be explained as the indicated quotient of two mathematical ex

What do you understand by marging of safety, Question: (a) A retail sto...

Question: (a) A retail store wants to evaluate how many units it must sell in order to earn a profit of Rs 10000 per month if the price of the unit is Rs 300, the average varia

DQ 3-2, Using one of the companies from DQ 1, describe how inventory planni...

Using one of the companies from DQ 1, describe how inventory planning and accuracy can be defined using the Pareto principle. The company is Target, Inc.

Budgets and human behaviour, what are the most effective management styles ...

what are the most effective management styles in an organisation

Marginal returns and negative marginal returns, 1) What is the difference b...

1) What is the difference between decreasing marginal returns and negative marginal returns?   2.) "A firm in monopolistic competition maximizes its profit by producing where it

Public deposits, Deposits from the public are one of the important sources ...

Deposits from the public are one of the important sources of finance mainly for fine established big companies along with a vast capital base. The period of public deposits is rest

What are the features of performance budgeting, What are the features of pe...

What are the features of performance budgeting The main features of performance budgeting are:  a)  Classification into functions activities or programmers.  b)  Specifyi

Difference between direct labour and indirect labour, Difference between Di...

Difference between Direct labour and Indirect labour Direct labour:- Labour which plays an active and direct part in the production of a particular commodity is called di

Write Your Message!

Captcha
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