Reference no: EM13128323
Vulcan Molding produces molded rubber components. At the start of the year, the company estimated that it would incur $3,400,000 of direct labor cost and $8,500,000 of manufacturing overhead.Overhead is allocated to production on the basis of direct labor cost. Actual materials used during the year were $5,500,000,actual direct labor cost was $3,500,000, and actual overhead was $9,000,000.
Required
a. Calculate the overhead rate for the current year.
b. Prepare the journal entry to record use of direct material.
c. Prepare the journal entry to record direct labor.
d. Prepare the journal entry to record manufacturing overhead applied to production.
e. Prepare the journal entry to close the balance in manufacturing overhead to cost of goods sold.
|
A common and novel problem
: answer the following questions: •What is the difference between a common and novel problem? •Create an example of a novel problem.
|
|
Problem related to cost of goods
: Based upon this information which of the following is most correct:
|
|
Best communication channel
: As a travel agent, you need to contact hundreds of clients and tell them that an increase in fuel costs will force the cruise line to increase its fees.
|
|
Test claim that with a single line waiting times vary less
: The waiting times have a standard deviation of 4.9 minutes. Use a 0.025 significance level to test the claim that with a single line, waiting times vary less than with individual lines.
|
|
Compute the overhead rate for the current year
: Actual materials used during the year were $5,500,000,actual direct labor cost was $3,500,000, and actual overhead was $9,000,000. Compute the overhead rate for the current year.
|
|
How many stereoisomers are possible
: How many stereoisomers are possible for each of the following substances? Draw them, and name each by the R-S and E-Z conventions.
|
|
Difference between absolute-relative and extreme poverty
: How do Marx and Weber explanation of inequality contribute to our understanding of POVERTY? Describe the various issues surrounding the definition of poverty in the U.S.A. as compared to the global definition of poverty. In your explanation, defin..
|
|
How many grams of sugar are in solution
: how many grams of sugar are in 15.0% concentrated solution with a total mass 125 g?
|
|
Quotient-composite rules
: Find any stationary points of the function from 1a. An use the first derivative test to see whether they are local maximum or local minimum of f(x).
|