Compute the amount of underapplied or overapplied overhead

Assignment Help Accounting Basics

Reference no: EM13481936

Manufacturing overhead costs incurred during the year:

Propery taxes.........................................$1600

Utilities, factory.......................................2,600

Indirect labor............................................5,100

depreciaion, factory...................................13,000

isnurance, factory.......................................2,500

Total acutual manufacturing overheadcost....$24,800

Other costs incurred during the year:

Purchase of raw materials...........................$15,000

Direct Labor costs.....................................$22,000

Inventories:

Raw materials, beginning............................$5,000

Raw materials, ending................................$4,400

Work in process, beginning........................$3,500

work in process, ending.............................$4,500

The compnay uses a predermined overhead rate to charge overhead cost to production. The rate for the year just completed was $4.00 per machine-hour; a total of 6,000machine-hourss were recorded for the year.

Required:

a. Compute the amount of underapplied or overapplied overhead cost for the year justended.

b. Prepare a schedule of costof goods manufactured for the year.

Reference no: EM13481936

Questions Cloud

What type of company would use a process costing system : what type of company would use a process costing system? what about a job-order costing system? provide two examples

Prepare the production schedule in units for safen bright : safe n bright inc. produces outside doors for installation on homes. the following information was gathered to prepare

For each proposal compute the payback peroid return on : a firm is considering two alternative proposals for modernizingits production facilities. to provide a basis for

Does the cost per cup of coffee served increase decrease or : espresso express operates a number of espresso coffee standsin busy suburban malls. the fixed weekly expense of a

Compute the amount of underapplied or overapplied overhead : manufacturing overhead costs incurred during the yearpropery

Determine the correct balances at may 31 for merchandise : the following informationregarding inventory transactions is available for the month of may.date nbspnbspnbspnbsp

What was the amount of net income reported by gore corp : the following account balances relate to the stockholders equity accounts of gore corp. at

Prepare regal flair enterprisess responsibility income : regal flair enterprise has two product lines jewelry and womens apparel. cost and revenue data for each product line

Prepare the entry to correct the prior years depreciation : depreciation-change in estimatemachinery purchased for 60000 by tom brady co. in 2003 wasoriginally estimated to have a

User Account

All Pages