What is the company''s predetermined overhead rate

Assignment Help Accounting Basics
Reference no: EM131813989

Can anyone help me do my homework: What is the company's predetermined overhead rate? How much manufacturing overhead was applied to Job P and Job Q? What is the direct labor hourly wage rate? If Job P includes 20 units, what is its unit product cost? What is the total amount of manufacturing cost assigned to Job Q as of the end of March (including applied overhead

Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March-Job P and Job Q. Job P was completed and sold by the end of the March and Job Q was incomplete at the end of the March. The company uses a plantwide predetermined overhead rate based on direct labor-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March):

 Estimated total fixed manufacturing overhead $ 10,000  
  Estimated variable manufacturing overhead per direct labor-hour $ 1.00  
  Estimated total direct labor-hours to be worked   2,000  
  Total actual manufacturing overhead costs incurred $ 12,500  

 

  Job P Job Q
  Direct materials $13,000   $8,000   
  Direct labor cost $21,000   $7,500   
  Actual direct labor-hours worked $1,400   $500   

Reference no: EM131813989

Questions Cloud

A description of public health issues in your community : Consider public health issues in your community, and select an issue you would like to address.A description of public health issues in your community.
Compute the degree of operating leverage for carlyle : Compute the sales revenue that must be earned for Carlyle to break even. Round the contribution margin ratio to six decimals and sales revenue to the nearest.
What is the total manufacturing cost assigned to job a : What is the total manufacturing cost assigned to Job A-500
What is the difference between a physical and political map : What is the difference between a physical and a political map? Look at map Native American Peoples, c. 1500. The map to enlarge it until it fills your screen.
What is the company''s predetermined overhead rate : What is the company's predetermined overhead rate. How much manufacturing overhead was applied to Job P
Calculate activity rates for each activity cost pool : Murri Corporation has an activity-based costing system with three activity cost pools-Processing, Setting Up, and Other. The company's overhead costs.
Evaluate how leaders communication styles : Evaluate how leaders' communication styles, including how they use technology to communicate, create and have impact upon effective organizations
What is the value of the call option : What is the value of the call option? If the call option was trading for $0.32, what is the arbitrage strategy?
Determine the total cost markup percentage : MyPhone Inc. uses the total cost concept of applying the cost-plus approach to product pricing. The costs of producing and selling 8,000 units of cellular phone

Reviews

Write a Review

Accounting Basics Questions & Answers

  Making equity section of the balance sheet

Prepare the stockholders' equity section of the balance sheet in proper form for Vicario Corporation as of December 31, 2012. Account for treasury stock using the cost method.

  An international childrens charity collects donations

An international children's charity collects donations, which are used to buy clothing and toys for children in need. The charity records donations of cash and other items as Donations Revenue when received. Prepare journal entries for the following ..

  The equipments salvage value is zero suzuki usesstraight

suzaki manufacturing company is considering three new projectseach requiring an equipment investment of 22000.

  The article states that managers faced aggressive revenue

read the article whats wevenue? byelizabeth macdonald in the wall street journal january 62000 p. a1. the article

  The return on common stockholders equity stockholders

modern building supply sells various building materials to retail outlets. the company has just approached linden state

  Advise the president of what the company is doing right

ljb company a local distributor has asked your accounting firm to evaluate their system of internal controls because

  Cost of direct material purchases

Independent of your answer to part "A," assume that Scot plans to produce 1,200,000 units of finished product for the quarter ended September 30.  If the firm desires to stock direct materials at the end of this period equal to 25% of current prod..

  Declining balance depreciation

Compare and contrast composite depreciation vs straight-line and declining balance depreciation. Under what conditions is it appropriate for a business to use the composite method of depreciation for its plant assets?

  Estimate the value of equity in the firm

Now assume that Gemco Jewelers has $10 million in cash and nonoperating assets and that the firm has $15 million in outstanding debt. Estimate the value of equity in the firm.

  What possible strategies could your organization adopt

What possible strategies could your organization adopt to address these challenges? What role could information systems play in these strategies? Use Porter strategies as a guide.

  Calculating the return on assets

The Purple Martin has annual sales of $887,400, total debt of $210,000, total equity of $465,000, and a net profit margin of 5%. What is its return on assets?

  Milton manufacturing company

Milton Manufacturing Company

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