Find what actual amount of manufacturing overhead cost

Assignment Help Financial Accounting
Reference no: EM1376527

A budgeted indirect-cost rate of $22 per direct-labor hour. The subsequent data are obtained from the accounting records for August 2013:
Direct materials $350,000
Direct labor (8,000 hours @ $15/hour) $120,000
Indirect labor $ 20,000
Plant lease $ 85,000
Depreciation on plant and equipment $ 40,000
Marketing expense $ 20,000
Plant utilities $ 10,000

Required:

a. Find what actual amount of manufacturing overhead cost was incurred during August 2013?

b. Find what amount of manufacturing overhead was allocated to all jobs during August 2013?

c. For August 2013, was manufacturing overhead under allocated or over allocated? Describe.

Reference no: EM1376527

Questions Cloud

Explain is forecast performing as well as it may : A CPA firm has been using subsequent equation to predict annual demand for tax audits. Demand for past few years is shown below. Is forecast performing as well as it may, Explain.
Evaluate her itemized deduction as a result of the fire : Evaluate her itemized deduction as a result of the fire. Also determine Heather's AGI and heather owns a two-story building. The building is used 60 percent for business use and 40 percent for personal use. During 2011,
Find ending balance in work in process : Pickering producing is working on 2-jobs. Expenses are accumulated under a job order cost system, and overhead is applied on basis of direct labor hours.
Calculate regression equation for preceding demand data : Choose At least four key elements, tools, also/or concepts relevant to operations management also/or duties of an operations manager or operations management. Describe them also elucidate how they relate.
Find what actual amount of manufacturing overhead cost : Find what actual amount of manufacturing overhead cost was incurred during August 2013 and find what amount of manufacturing overhead was allocated to all jobs during August 2013?
Show diversity for a multinational corporation : What are the main problems caused by worldwide accounting diversity for a multinational corporation?
Evaluate the amount of write-down reversal using us gaap : Evaluate the amount of write-down reversal (if any) required using US GAAP. Calculate the write-down on both an individual and a total inventory basis.
Illustrate what is efficiency of line balanced : Illustrate what is efficiency of line balanced as in d. Suppose which demand rose from 750 to 800 units per day. Illustrate what would you do? Show any amounts or calculations.
Identifying a great manager : Recognize a great manager, either in your own company, or one with which you are familiar, or have read about. What makes this person stand out from other managers?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Purpose journal entries to account for the foreign currency

Purpose journal entries to account for the foreign currency option, import purchase and firm commitment.

  Common size income statement

Prepare a two column common size income statement and Comment specifically on difference between Camper's, Inc., and the industry average.

  Purpose a post-closing trial balance

Prepare a post-closing trial balance as of October 31 - During its first month of operation, the Rawls Repair Corporation

  Redrafting contribution margin statements

Redrafting contribution Margin statements - Electricity cost is only for lighting a rather large area of land for play at night and is always on after sunset regardless of how many shooters are on site.

  Evaluate of company''s net operating income

Determine of company's net operating income and quantitative accounting analysis.

  Evaluate the amount of depreciation

Disclosure of depreciation expense in income statement - Evaluate the amount of depreciation that should be reflected on the income statement for 2006 and 2007.

  Analyzing the effects of four alternative inventory methods

Analyzing the Effects of Four Alternative Inventory Methods in a Periodic Inventory System,   Compute the amount of goods available for sale, ending inventory, and cost of goods sold at January 31, 2009, under each of the following inventory costing ..

  Show activity based costing

Each ticket entitles the visitor to attend the IMAX giant screen sense around movie as well as the traditional planetarium.

  Example of internal control over cash

When a bank reconciliation has been satisfactorily completed, the only related entries to be made in the depositor's records and example of internal control over cash

  Calculate the equivalent units of production

Calculate the equivalent units of production for direct materials and conversion costs for month. Use the FIFO costing method.

  Evaluate the breakeven point in number of oil changes

Using the high low method, evaluate utility costs. In addition, evaluate the variable costs per unit and total fixed costs. and evaluate the breakeven point in number of oil changes and sales dollars.

  Purpose a contribution margin format income statement

Purpose a contribution margin format income statement; calculate break-even point: Presented here is the income statement for Edwards Co. For February

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