Determining the overhead cost

Assignment Help Financial Accounting
Reference no: EM132043997

Martin Manufacturing assigns overhead to jobs based on machine hours. At the beginning of the current year, estimated overhead costs were $250,000 and estimated machine hours were 50,000. During the year, 150 machine hours were used on Job #108. By the end of the year, actual overhead costs were calculated to be $232,500 and actual machine hours were 5,000.

How much overhead was applied to Job #108 during the year?

Reference no: EM132043997

Questions Cloud

Profit percentage and rate of inventory turnover : Compute Spirit?'s gross profit percentage and rate of inventory turnover for 2014.
What is the total amount of stockholders equity : Karl Corporation was organized on January 2, 2018. During 2015, Karl issued 40,000 shares at $24 per share, purchased 6,000 shares of treasury stock
What is the definition of financial management : Question: What is the definition of financial management? What is financial ratio analysis?
Explain the differences among the series of robberies : Investigate and illustrate how positive and negative factors affected different types of crimes in the 1930s, 1960s, and in the present-day U.S.
Determining the overhead cost : How much overhead was applied to Job #108 during the year?
Interest paid of the life of the loan : If you make a ONE TIME extra principle payment of $22,000 in period number 18, how much do you SAVE in total interest paid of the life of the loan?
What is an easy way to remember which account : What is an easy way to remember which accounts are debited and which are credited in accounting?
Discuss various methods of establishing the identity : In your discussion include an explanation of methods used to identify the dead when only teeth and bones of the victim are available for examination.
Steps in the accounting cycle : Explain why following the steps in the accounting cycle is important.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Gates company purchases toy musical instruments

The Gates Company purchases toy musical instruments from a supplier for $15 each and then sells them to its customers for $25 each. The company fore casted unit sales of

  What is mid-atlantics weighted-average cost of capital

What is Mid-Atlantic's weighted-average cost of capital (WACC)? What are the key assumptions that especially influence WACC? What are the free cash flows of the packaging machine investment?

  What amount of fica taxes does kyle owe for the year

Kyle worked as a free-lance software engineer for the first three months of 2016. During that time, he earned $62,000 of self-employment income. On April 1, 2016, Kyle took a job as a full-time software engineer with one of his former clients, Hoogle..

  Prepare a schedule of cash disbursements for the quarter

Prepare a schedule of cash receipts for the first quarter, prepare a schedule of inventory purchases for the first quarter and prepare a schedule of cash disbursements for the first quarter.

  Write a report identifying elements of conformity

Write a report identifying elements of conformity and group dynamics that were discussed in class

  Explain how can you incorporate this type of analysis

Explain how can you incorporate this type of analysis and awareness into your professional work in a way that enhances your value to your organization? Which tools covered in this course might most readily translate into expanding your personal an..

  Disposed of fully depreciated desks

School company disposed of fully depreciated desks. The desks had a cost of 9000 and no residual value. Kingdom corporation sold equipment for 2000 cash. The original cost of the equipment was 23,800, accumulated depretiation up to the date of sale a..

  Lower of cost or marketleaders company has five products in

lower of cost or marketleaders company has five products in its inventory. information about the december 312011

  Total cost-variable and fixed-the product is outsourced

Ryan is debating whether to continue making 2,000 units of product A or to outsource the manufacture of this product. The total cost (variable and fixed) to Ryan to make Product A is $16 a unit. Ryan can buy Product A from the outside for $15 a unit...

  What is amount of profit on the sale and the interest income

Roman Company leased equipment from Koenig Company on July 1, 2015, for an eight-year period expiring June 30, 2023. Equal annual payments under the lease are $600,000 and are due on July 1 of each year. The first payment was made on July 1, 2015. wh..

  How many dollars of new funds are needed to finance

Prepare a monthly summary of cash payments for the six-month period from January through June. (Note: Compute prior December purchases to help get total material payments for January.)

  Fargo company had sales revenue

During the current year, Fargo Company had sales revenue of $145,000, of which 80% were credit sales.

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