Reference no: EM132329189

Question

1. During March 2019, Virginia Bay Corporation recorded $275,000 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 $270,000 would be incurred, and 9,100 direct labor hours would be worked.

During March, 11,000 hours were actually worked. Use this information to determine the standard overhead rate. (round & enter any final dollar answers to the nearest cent):

2. During March 2019, Alaska Corporation recorded $266,000 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, 12,400 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)

3. March 1, 201, Dorchester Company's beginning work in process inventory had 9,000 units. This is its only production department. Beginning WIP units were 50% completed as to conversion costs. Dorchester introduces direct materials at the beginning of the production process. During March, all beginning WIP was completed and an additional 16,500 units were started and completed. Dorchester also started but did not complete 9,500 units. These units remained in ending WIP inventory and were 60% completed as to conversion costs.

Dorchester uses the weighted average method. Use this information to determine for March 2019 the equivalent units of production for conversion costs. (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units)