Determine the amount of factory overhead

Assignment Help Financial Accounting
Reference no: EM132754785

Problem - During March 2019, Annapolis Corporation recorded $43,000 of costs related to factory overhead. Alpha's overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $42,500 would be incurred, and 4,500 direct labor hours would be worked. During March, 5,750 hours were actually worked. Use this information to determine the amount of factory overhead that was (over) or under applied.

Reference no: EM132754785

Questions Cloud

Calculate the NPV for this project : Buying a new machine press for $532,626 is estimated to result in some amount of annual pretax cost savings. Calculate the NPV for this project
Find what is the market price of the bond : Find What is the market price of this bond if the face value is $1,000? The yield to maturity is 11.2 percent and the maturity date is 11 years from today.
Determine the amount of factory overhead : During March, 5,750 hours were actually worked. Use this information to determine the amount of factory overhead that was (over) or under applied
Prepare an amortization schedule for the bonds : The bonds will be accounted for using the amortized cost model. Face value of bonds $1,386,000. Prepare an amortization schedule for the bonds
Calculate the price per share of the combined corporation : Vtech Metal is thinking of buying Nissin Steel, which has earnings per share of $1.25, calculate the price per share of the combined corporation
Determine dollar sales at which net income would be equal : Determine the dollar sales at which net income would be equal regardless of whether Pittman Company sells through agents (at a 20% commission rate)

Reviews

Write a Review

Financial Accounting Questions & Answers

  Find what is amount of provision for warranty payable

Find What is amount of provision for warranty payable that should be reported on Smart Buy's December 31, 20X5, statement of financial position?

  Differences in service life for alternative investments

How do you account for differences in service life for alternative investments? Give examples to support your arguments. Give an example for a must-choose-one type of alternative. List three ways to calculate the incremental DCFRR on investments.

  Otylia manufacturing company

Otylia Manufacturing Company assembles its product in several departments. It has two departments that process all units. During February, the beginning work in process in the cutting department was half completed as to conversion,

  Should the law allow an employer to fire an employee

Should the law allow an employer to fire an employee without a good reason? Have observed situations where an employee was fired?

  Purchased a high-speed industrial centrifuge

Holiday Laboratories purchased a high-speed industrial centrifuge at a cost of $440,000. Shipping costs totaled $30,000. Foundation work to house the centrifuge cost $8,600. An additional water line had to be run to the equipment at a cost of $3,000.

  What is the value after seven years

What is its value after 7 years? Bubba bought a piece of land for $160,000 which appreciated in value at the rate of 3% per year

  Determine what amount must deposit each year

If the account pays 7 per cent interest, what amount must you deposit each year? (Do not round intermediate steps. Round your answer to 2 decimal places)

  1dividend changes can be used by management as a credible

1.dividend changes can be used by management as a credible communication tool to signal investors about future earnings

  Calculate depreciation expense for the final year of service

Aaron Company purchased equipment at cost of $140,000. Using straight-line depreciation, calculate depreciation expense for the final (partial) year of service.

  Compare market capitalization and book value

Compare market capitalization, book value, and future earnings methods (and your other chosen methods) with each other to include their advantages.

  The first permanent english settlement in new england

The first permanent English settlement in New England; established by religious separatists seeking autonomy from the church of England.

  What amount of investment income should gab report

What amount of investment income should Gab report in its income statement for the year ended December 31, 2016, under the equity method?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd