Determine the over or under applied overhead at december

Assignment Help Cost Accounting
Reference no: EM133169194

Question - Mary Rose Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to be P550,000 for the year, and machine usage is estimated at 250,000 hours. In the month of January, P52,000 of overhead costs are incurred and P10,000 machine hours are used. For the remainder of the year, P548,000 of overhead costs are incurred and 240,000 machine hours are worked.

Required -

a) Determine the amount if applied factory overhead for the year.

b) Determine the over or under applied overhead at December 31.

Reference no: EM133169194

Questions Cloud

Significance of the indus waters treaty : This assignment is a journal writing assignment. You are to read the four articles from week 8 to week 11. After reading the following four articles, you reflec
Social justice issue-contemporary cause-political movement : What is the number one social justice issue, contemporary cause, or political movement that is most important to you?
What amount can deborah claim at item : Travel to and from exam venues and university 820 km in Mazda 3. What amount can Deborah claim at Item D4 for her self-education expenses
Characteristics of the financial field : Introduces the subject of the financial environment and explains the concepts of finance, economics and accounting, as well as the relationship that exists betw
Determine the over or under applied overhead at december : Overhead costs are expected to be P550,000 for the year, Determine the over or under applied overhead at December 31
How techniques affected the results of the negotiation : 1. Describe the industry in which your chosen negotiation is taking place.
Interpret the coefficient of colonial : A Realtor in Arlington, Massachusetts, is analyzing the relationship between the sale price of a home (Price in $), its square footage (Sqft), the number of bed
Servant leadership comprehensive case study : How do they react if they have an employee that is struggling in their work and not showing any progress?
What is the dividend growth rate : Home Canning Products common stock sells for $54.96 a share and has a market rate of return of 13.7 percent. What is the dividend growth rate

Reviews

Write a Review

Cost Accounting Questions & Answers

  How much will net operating income increase

If the army's offer is accepted, by how much will net operating income increase or decrease from what it would be if the 9,300 pairs were sold through regular channels

  Prepare a production budget and purchases budget

Prepare a production budget and purchases budget for January, February, and March

  Compute the estimated total cost

Priya Biscuits Ltd. produces 2 biscuits products Creamica and product ButterSalt. Compute the estimated total cost of both the raw materials purchased

  Find which costs would not be classified as a production

Find which costs would NOT be classified as a production overhead cost in a food processing company? The cost of renting the factory building

  What was the total amount of bad debts expense

What was the total amount of bad debts expense recognized during the year and show in the horizontal model or in journal entry format the adjustment required.

  The firm is proposing to buy a new plant which can generate

The firm is proposing to buy a new plant which can generate additional annual profit of Rs. 10,000. The fixed costs of new plant is expected to Rs. 4000. The new plant will increase the sales volume by Rs. 40,000. It can be assumed that the ratio bet..

  Compute the value of the bond at the end

The Investor Company wanted to take advantage of the fall in market yield by selling the bond to any willing buyer. Compute the value of the bond at the end

  Compute the internal rate of return of the investment

ABC Corporation made a net investment of P500,000 in a vending machine. Compute the internal rate of return of the investment

  Calculate the total number of daily rentals the company have

Calculate the total number of daily rentals the company must have during the year to earn the targeted profit. On the basis of your answer to 1, determine the average number of days each auto- mobile must be rented.

  Net asset balance of the subsequent categories

Explain what could be the reported net asset balance of the subsequent categories during 2011: permanent restricted, temporarily restricted, unrestricted

  What is the expected payoff of the project

What is the expected payoff of the following project - NPV = $525 and 70% chance of success and NPV = ($415) and 30% chance of failure

  Calculate the new machine net present value

The machine, which has a ten-year life, sells for $144,000 and would cost $16,000 per year to operate. Calculate the new machine net present value

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