Period and incurred overhead costs

Assignment Help Accounting Basics
Reference no: EM13147340

Vektek, Inc. thinks machine hours is the best activity base for its manufacturing overhead. The estimate of annual overhead costs for its jobs was $615,000. The company used 1,000 hours of processing on Job No. B12 during the period and incurred overhead costs totaling $630,000. The budgeted machine hours for the year totaled 20,000. How much overhead should be applied to Job No. B12?

Reference no: EM13147340

Questions Cloud

The coast during a new moon or a full moon? - explain : When a hurricane comes ashore, there is always a danger of damage to life and property from the high winds and heavy seas associated with these storms. What is worse, the eye of the storm crossing the coast during a New Moon or a Full Moon? - explain..
Preparing governement-wide financial statements : Prepare Journal Entries for the government based on the production of fund-based financial statements. Than prepare JE entries in anticipation of preparing governement-wide financial statements. Before each JE for fund-based reporting, indicated i..
How will reduced function of her liver affect levels : a patient with hepatitis B has reduced liver function. How will reduced function of her liver affect levels of hormones in her blood or urine?
Discuss how deficit spending relates to economic collapse : Discuss how deficit spending relates to the economic collapse of the Greece and Spain economies. Relate their economic collapse to U.S. current economic problems.
Period and incurred overhead costs : The company used 1,000 hours of processing on Job No. B12 during the period and incurred overhead costs totaling $630,000. The budgeted machine hours for the year totaled 20,000. How much overhead should be applied to Job No. B12?
Compare three different search engines : I need a two page on the following: Compare three different search engines. What tips do they provide to improve a page's rankings? How much does it cost to advertise a page on their results pages?
Explain this result in terms of the example in the question : Explain this result in terms of the example in the question above. How might things change if the border were open, with no restrictions on immigration?
Briefly explain the classification schemes of siliciclastic : Briefly explain the classification schemes of siliciclastic sedimentary rocks a. based on composition only; b. based on grain size only; c. based on composition as well as gram size.
Decorate ltd (decorate) is a large office : Decorate Ltd (Decorate) is a large office interior design company which has ordinary shares only, listed on the Australian Stock Exchange. The majority of shares in Decorate are owned by Colour Ltd (Colour), who holds 85%. The remaining shares are he..

Reviews

Write a Review

Accounting Basics Questions & Answers

  Regulatory process over accounting and finance

How do companies assure compliance with regulations? How does your company comply? Any thoughts on how to streamline the regulatory process over accounting and finance?

  Journal entry to record the payment

(a) Prepare the required adjusting journal entry to record accrued salaries on December 31, 2004. (b) Prepare the journal entry to record the payment of salaries on January 4, 2005.

  Mode and median of the distribution

Karl pearson coefficient of skewness of distribution is +0.32.its standard deviation is 6.5 and mean is 29.6. Find the mode and median of the distribution.

  Firms total overhead cost and the overhead rate

Alex also informs you that, under the current scheme, 70% of the firm's total overhead is allocated to his product. a. Computer the firm's total overhead cost and the overhead rate.

  Problem related to stock or bond mutual fund

Mutual Funds What is the function of a mutual fund? Why are mutual funds popular among investors? How does a money market mutual fund differ from a stock or bond mutual fund?

  Amount of interest and expense for the year

Interest computed on the average accumulated expenditures for the warehouse construction was $50,000. What amount of interest should Liddy expense for the year?

  Internal rate of return on the investment

The machine would reduce labor and other operating costs by $76,000 per year. The internal rate of return on the investment in the new machine is closest to:

  Determining the gain or loss

On November 28, 2010, she sold 48 shares, which could not be specifically identified, for $576 and on December 8, 2010, she sold another 25 shares of $188, What was her recognized gain or loss?

  Materials and manufacturing overhead resources

Big Thumbs Company manufactures portable flash drives for computers. Big Thumbs incurs monthly depreciation costs of $15,000 on its plant equipment and monthly advertising costs of $3,000 to place advertisements in magazines. Also, each drive requ..

  Immediately after adam''s admission to the partnership

Immediately after Adam's admission to the partnership, Leah sells one-fourth of her interest to Denton for $35,000. Journalize the entry to record this transaction.

  Prepare the journal entry to fell to adjust the deferred tax

At December 31, 2012, Fell Corporation had a deferred tax liability of $680,000, resulting from future taxable amount of $2,000,000 and an enacted tax rate of 34%. In May 2013, a new income tax act is signed into law that raises the tax rate to 40..

  Prepare the partnership income statement for the year

Revenues for the year ended 31 January 20X1 were $507,000 and expenses were $330,000. Under plan (b) above prepare the partnership income statement for the year.

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