Question
In: Accounting
The following budget data are available for Sharp Company:
The following budget data are available for Sharp Company:
Estimated direct labor hours 12,000
Estimated direct labor dollars $90,000
Estimated factory overhead costs $180,000
Actual direct labor hours 11,500
Actual direct labor dollars $92,000
Actual factory overhead costs $181,000
If factory overhead is applied based on direct labor hours, the amount of overhead to be applied is
Formula: Est. OH/Est. DLH-POH Rate; POH Rate x Actual DLH = OH Applied
a. $181,000
b. $184,000
c. $180,000
d. $172,500
Solutions
ekkarill92 answered 2 years agoRelated Solutions
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Shares Jan. 1, 2020, Beginning
number
550,000Apr. 1, 2020, Purchase of treasury
shares
(50,000)July 1, 2020, Stock dividend of
50% Nov. 1, 2020, Issuance of new
shares
250,0004% Cumulative Convertible Preferred Stock10,000 shares, par value is $100, convertible into 150,000
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Units in beginning inventory……………….0
Units produced………………………….6,300
Units sold……………………………….5,400
Units in ending inventory………………
900
Variable costs per unit:
Direct
materials…………..
$ 65.00
Direct labor………………..
$ 30.00
Variable manufacturing
overhead $
0.00
Variable
selling/administrative
$ 7.00
Fixed costs:
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November
1
On hand, 10 units at $2 each
8
Sold, 6 units for $10 each
14
15
Purchased, 30 units at $3 each
Purchased, 10 units at $4 each
25
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On Jan.1,there are 700 ,000 shares of common shares
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transactions in common shares:
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June stock split 2-1
Nov issuance of 120,000 shares
8% Cumulative Convertible Preferred Stock: $1,000,000,
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Mar.
1
Beginning inventory, 500 units at $4.00 each
7
Purchased 2,000 units at $5.00 each
12
Sold 2,300 units
17
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d. Depreciation Rs. 60,000
e. Amortization Rs. 30,000
f. Interest Expense Rs. 100,000
g. Tax Rate 35%
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Change
Cumulative
Jan. 1, 2018, Beginning number
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Mar. 1, 2018, Purchase of treasury shares
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613,400
June 1, 2018, Stock split 2-1
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1,226,800
Nov. 1, 2018, Issuance of shares
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1,460,800
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Transactions in Common Shares
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Jan. 1, 2020, Beginning number
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Mar. 1, 2020, Purchase of treasury shares
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