Solution-Determine the amount of overhead over or under

Determine the amount of overhead over or under applied

Assignment Help Financial Management

Reference no: EM132317378

Question

During March 2019, Alaska Corporation recorded $257,000 of costs related to factory overhead. Alaska's overhead application rate is based on direct labor hours.

The preset formula for overhead application estimated that $250,000 would be incurred, and 12,500 direct labor hours would be worked.

During March, 13,000 hours were actually worked. Use this information to determine the amount of overhead over or under applied. Enter overapplied overhead as a negative number. (round & enter any final dollar answers to the nearest whole dollar)

Reference no: EM132317378

Questions Cloud

What kind of financial product can businesses use : What kind of financial product can businesses use to manage currency risk? What is this form of risk management called?

What are the two points that connect the capital market line : Avoidable and Unavoidable are common terms for investor risk. By what names do we also know these risks and which belongs to which?

Calculate the total manufacturing costs incurred : Baltimore Manufacturing had a Work in Process balance of $64,000 on January 1, 2018. The year end balance of Work in Process was $80,000 .

Prepare a memorandum of the accounting requirements : Prepare a memorandum of the accounting requirements for the impairment of long-term assets under the US GAAP and IFRS.

Determine the amount of overhead over or under applied : The preset formula for overhead application estimated that $250,000 would be incurred, and 12,500 direct labor hours would be worked.

What fair value adjustment should be made at the end of 2018 : TNT Corporation's income tax payable is $240,000 and its tax rate is 30%. Assuming no book-tax differences, what is TNT's net income?

Project Status Report for employer : BCO6656 IT Project Management Assignment - Status Report, Victoria University, Australia. Project Status Report for employer

Describe alternative way and provide rationale : Describe and explain the pros and cons of subcontracting logistics for a building or moving enterprise. Describe an alternative way and provide a rationale.

Important components of vibrant campus atmosphere : Campus recreation facilities and programs are important components of vibrant campus atmosphere. Current policy area from the following within context of campus

User Account

All Pages

Determine the amount of overhead over or under applied

Reference no: EM132317378

Reference no: EM132317378

Questions Cloud

Reviews

Write a Review

Financial Management Questions & Answers

Preferred stock pays dividend-what is the rate of return

What is the marginal private cost

The growth of mature companies is primarily funded by

Basic features of the three functions underlying the credit

The earnings-dividends and common stock price

What is this bonds time to maturity

Statement that equity is call option on the firm assets

How much is the present value of this cash flows

What is the current intrinsic value of vandells stock

Expected returns on investment stay constant

What would time value component of zero indicate

Prepayment penalty based on loan balance

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT