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aideramos2855
08.10.2019 •
Business
Ikerd company applies manufacturing overhead to jobs on the basis of machine hours used. overhead costs are expected to total $300,000 for the year, and machine usage is estimated at 125,000 hours. for the year, $322,000 of overhead costs are incurred and 130,000 hours are used. instructions (a) compute the manufacturing overhead rate for the year. (b) what is the amount of under- or overapplied overhead at december 31? (c) prepare the adjusting entry to assig
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Ответ:
a. $2.4
b. $10,000 under-applied
c. Cost of goods sold A/c Dr $10,000
To Manufacturing overhead $10,000
Explanation:
a. The computation of the manufacturing overhead rate is shown below:
Manufacturing overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)
= $300,000 ÷ 125,000 hours
= $2.4
(B) Now we have to find the actual overhead which equals to
= Actual direct labor-hours × predetermined overhead rate
= 130,000 hours × $2.4
= $312,000
So, the ending overhead equals to
= Actual manufacturing overhead - actual overhead
= $322,000 - $312,000
= $10,000 under-applied
c. The adjusting entry is shown below:
Cost of goods sold A/c Dr $10,000
To Manufacturing overhead $10,000
(Being the under-applied overhead is adjusted)
Ответ:
ok sure
Explanation: