You are watching: The amount by which overhead incurred during a period exceeds the overhead applied to jobs is:
Bard Manufacturing uses a task order expense audit system. Throughout one month Bard purchased $198,000 of raw products on credit; issued materials to production of $195,000 of which $30,000 were indirect. Bard incurred a factory payroll of $150,000, phelp in cash, of which $40,000 is classified as instraight labor. Bard uses a preidentified overhead application price of 150% of direct labor price. The journal enattempt to record the purchase of materials is:
A project order production device would certainly be appropriate for a agency that produces which among the following items?
M.A.E. charged the complying with amounts of overhead to jobs in the time of the year: $20,000 to jobs still in process, $60,000 to work completed however not marketed, and $120,000 to work finimelted and marketed. At year-end, M.A.E. Company"s Factory Overhead account has actually a crmodify balance of $5,000, which is not a material amount. What enattempt need to M.A.E. make at year-end?
Bard Manufacturing uses a project order cost accounting mechanism. During one month Bard purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were instraight. Bard incurred a factory payroll of $150,000, phelp in cash, of which $40,000 is classified as indirect labor. Bard uses a prefigured out overhead application rate of 150% of direct labor price. If Bard incurred total overhead costs of $167,800 in the time of the month, compute the amount of under- or overapplied overhead:
Austin Company kind of uses a project order price accounting mechanism. The company"s executives approximated that direct labor would certainly be $2,000,000 (200,000 hours at $10/hour) and that manufacturing facility overhead would certainly be $1,500,000 for the existing period. At the finish of the period, the documents show that tbelow had actually been 180,000 hours of straight labor and $1,200,000 of actual overhead prices. Using direct labor hrs as a base, what was the predetermined overhead alarea rate?
A agency has actually an overhead application rate of 125% of straight labor expenses. How much overhead would be allocated to a task if it forced complete labor costing $20,000?
Penn Company supplies a project order expense accounting mechanism. In the last month, the device gathered labor time tickets totaling $24,600 for direct labor and also $4,300 for instraight labor. These prices were gathered in Factory Payroll as they were paid. Which entry should Penn make to assign the Factory Payroll?
Delittle Goods in Process Inventory $24,600; delittle Factory Overhead $4,300; crmodify Factory Payroll $28,900.
O.K. Company type of supplies a project order expense bookkeeping mechanism and allocates its overhead on the basis of direct labor prices. O.K. expects to incur $800,000 of overhead in the time of the next period, and also expects to usage 50,000 labor hrs at a price of $10.00 per hour. What is O.K. Company"s overhead application rate?
If one unit of Product X used $2.50 of straight products and also $3.00 of direct labor, offered for $8.00, and also was assigned overhead at the rate of 30% of direct labor prices, exactly how much gross profit was realized from this sale?
ANS. $1.60.cost:DM $2.50DL $3OH ($3*30%) .90Total Cost $6.40Selling price $8.00Cost 6.40Gross Profit $1.60
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