Preliminary ending balance in manufacturing overhead account

Assignment Help Financial Accounting

Reference no: EM131266439

In 2016, the Calimari Company used a predetermined manufacturing overhead rate of $5 per machine hour. Information for the year is as follows: Actual overhead costs incurred: Indirect materials $15471 Indirect labor $13,750 Plant depreciation $4,800 Plant utilities and insurance $19,530 Other plant overhead costs $13731 Total machine hours used during the year 7,500 What was the preliminary ending balance in the manufacturing overhead account before the year-end adjustment to clear the balance to zero?

Reference no: EM131266439

Questions Cloud

There was favorable direct labor efficiency variance : Holiday Foods is famous for its frosted fruit cake. The main ingredient of the cake is dried? fruit, which Holiday purchases by the pound. In? addition, the production requires a certain amount of direct labor. Holiday uses a standard cost? system, a..

Units were transferred to the finished goods inventory : The Blue Corporation started and completed 6,000 units during February. Blue started the month with 820 units in process (40% complete) and ended the month with 480 units in process (40% complete). How many units were transferred to the Finished Good..

Calculate overhead application rate at the begining of year : Carmen has a bakery that specializes in dog food in a variety of sizes and flavors. Carmen uses a flexible budget to forecast manufacturing overhead, which is then allocated to products based on over hours. Calculate the overhead application rate at ..

Balance sheet for accounts receivable-plant and equipment : Prepare a budgeted income statement that summarizes the activity for the two months ended March 31. Compute the amounts that would appear on the March 31 balance sheet for accounts receivable, plant and equipment (net), and retained earnings.

Preliminary ending balance in manufacturing overhead account : In 2016, the Calimari Company used a predetermined manufacturing overhead rate of $5 per machine hour. Information for the year is as follows: Indirect materials $15471 Indirect labor $13,750 Plant depreciation $4,800 Plant utilities and insurance $1..

Is this capital or operating lease : Makewell Hospital is leasing a piece of medical equipment from Medical Equipment Manufacturing (MEM) for five years. The equipment should last at least ten years with normal maintenance. Calculate the annual lease payment that MEM would charge if Mak..

Prepare the journal entry to record the bond issuance : On January 1, 2016, Barden Universal issued 12% bonds dated January 1, 2016, with a face amount of $200 million. The bonds mature in 2025 (10 years). Determine the price of the bonds at January 1, 2016. Prepare the journal entry to record the bond is..

Summary payroll and related journal entries : McConnell Company's employees earn vacation time at the rate of 1 hour per 40-hour work period. The vacation pay vests immediately, meaning an employee is entitled to the pay even if employment terminates. Prepare the appropriate adjusting entry for ..

User Account

All Pages