Question
In: Accounting
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on...
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $172,040. Estimated direct labor cost was $456,280 for 18,700 hours.
Actual costs for the most recent month are summarized
here:
| Item Description | Total Cost | |
| Direct labor (1,870 hours) | $ | 45,629 |
| Indirect costs | ||
| Indirect labor | 2,520 | |
| Indirect materials | 3,380 | |
| Factory rent | 3,340 | |
| Factory supervision | 4,730 | |
| Factory depreciation | 5,660 | |
| Factory janitorial work | 1,140 | |
| Factory insurance | 1,880 | |
| General and administrative salaries | 4,210 | |
| Selling expenses | 5,470 | |
Required:
1. Calculate the predetermined overhead rate.
2. Calculate the amount of applied manufacturing overhead.
3. Calculate actual manufacturing overhead costs.
4. Compute over- or underapplied overhead.
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on...
Verizox Company uses a job order cost system with manufacturing
overhead applied to products based on direct labor hours. At the
beginning of the most recent year, the company estimated its
manufacturing overhead cost at $184,000. Estimated direct labor
cost was $425,040 for 18,400 hours.
Actual costs for the most recent month are summarized
here:
Item Description
Total Cost
Direct labor (1,840 hours)
$
42,505
Indirect costs
Indirect labor
2,450
Indirect materials
3,500
Factory rent
3,270
Factory supervision
4,890
Factory...
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on...
Verizox Company uses a job order cost system with manufacturing
overhead applied to products based on direct labor hours. At the
beginning of the most recent year, the company estimated its
manufacturing overhead cost at $178,560. Estimated direct labor
cost was $431,520 for 18,600 hours.
Actual costs for the most recent month are summarized
here:
Item Description
Total Cost
Direct labor (1,860 hours)
$
43,153
Indirect costs
Indirect labor
2,500
Indirect materials
3,360
Factory rent
3,260
Factory supervision
4,870
Factory...
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on...
Verizox Company uses a job order cost system with manufacturing
overhead applied to products based on direct labor hours. At the
beginning of the most recent year, the company estimated its
manufacturing overhead cost at $172,980. Estimated direct labor
cost was $435,240 for 18,600 hours.
Actual costs for the most recent month are summarized
here:
Item Description
Total Cost
Direct labor (1,860 hours)
$
43,525
Indirect costs
Indirect labor
2,430
Indirect materials
3,380
Factory rent
3,240
Factory supervision
4,810
Factory...
Dobson Manufacturing Company uses a job order cost system with manufacturing overhead applied to products on...
Dobson Manufacturing Company uses a job order cost system with
manufacturing overhead applied to products on the basis of direct
labor dollars. At the beginning of the most recent period, the
company estimated its total direct labor cost to be $51,700 and its
total manufacturing overhead cost to be $98,230.
Several incomplete general ledger accounts show the transactions
that occurred during the most recent accounting period which is
given in second requirement.
Required:
2. Fill in the missing values in...
Dobson Manufacturing Company uses a job order cost system with manufacturing overhead applied to products on...
Dobson Manufacturing Company uses a job order cost system with
manufacturing overhead applied to products on the basis of direct
labor dollars. At the beginning of the most recent period, the
company estimated its total direct labor cost to be $54,800 and its
total manufacturing overhead cost to be $98,640.
Several incomplete general ledger accounts show the transactions
that occurred during the most recent accounting period which is
given in second requirement.
Required:
1. Calculate the predetermined overhead rate.
2....
Dobson Manufacturing Company uses a job order cost system with manufacturing overhead applied to products on...
Dobson Manufacturing Company uses a job order cost system with
manufacturing overhead applied to products on the basis of direct
labor dollars. At the beginning of the most recent period, the
company estimated its total direct labor cost to be $50,300 and its
total manufacturing overhead cost to be $90,540.
Several incomplete general ledger
accounts showing the transactions that occurred during the most
recent accounting period follow:
Required:
1.
Calculate the predetermined overhead rate.
2.
Fill in...
Sampson Company uses a job order cost system with overhead applied to products based on direct...
Sampson Company uses a job order cost system with overhead
applied to products based on direct labor hours. Based on previous
history, the company estimated its total overhead for the coming
year (2016) to be $720000 and its total direct labor hours to be
24000. On January 1, 2010 the general ledger of Sampson Company
revealed that it had one job in process (Job 102) for which it had
incurred a total cost of $15,000. Job 101 had been finished...
Tyler Tooling Company uses a job order cost system with overhead applied to products on the...
Tyler Tooling Company uses a job order cost system with overhead
applied to products on the basis of machine hours. For the upcoming
year, the company estimated its total manufacturing overhead cost
at $225,720 and total machine hours at 62,700. During the first
month of operations, the company worked on three jobs and recorded
the following actual direct materials cost, direct labor cost, and
machine hours for each job:
Job 101
Job 102
Job 103
Total
Direct materials used
$...
ABC Company uses a job order cost system with overhead applied to products on the basis...
ABC Company uses a job order cost system with overhead applied
to products on the basis of machine hours. For the upcoming year,
the company estimated its total manufacturing overhead cost at
$259,530 and total machine hours at 63,300. During the first month
of operations, the company worked on three jobs and recorded the
following actual direct materials cost, direct labor cost, and
machine hours for each job:
Job 101
Job 102
Job 103
Total
Direct materials used
$
11,800...
ABC Company uses a job order cost system with overhead applied to products on the basis...
ABC Company uses a job order cost system with overhead applied
to products on the basis of machine hours. For the upcoming year,
the company estimated its total manufacturing overhead cost at
$222,840 and total machine hours at 61,900. During the first month
of operations, the company worked on three jobs and recorded the
following actual direct materials cost, direct labor cost, and
machine hours for each job:
Job 101 Job 102 Job 103 Total
Direct materials used $ 10,200...
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