User Account

All Pages

What is the predetermined overhead rate

Assignment Help Financial Accounting
Reference no: EM13143200

Logan Products computes its predetermined overhead rate annually on the basis of direct labor hours. At the beginning of the year, it estimated that 35,000 direct labor-hours would be required for the period’s estimated level of production. The company also estimated $568,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Logan’s actual manufacturing overhead for the year was $741,189 and its actual total direct labor was 35,500 hours.

What is the predetermined overhead rate?

Reference no: EM13143200

Questions Cloud

Statements concerning consolidated financial statements : Which of the following statements concerning consolidated financial statements is true?
Complex data structures and how they are used. : Explain the need for complex data structures and how they are used.
Determining gross profit method : King Co. requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $76,000. Purchases since January 1 were $144,000; freight-in, $6,800; purchase returns and allowances, $4,800.
What aspects make the lymphatic system unique : The lymphatic system is essential to the function of the specific immune system. What aspects make the Lymphatic system unique and effective?
What is the predetermined overhead rate : Logan’s actual manufacturing overhead for the year was $741,189 and its actual total direct labor was 35,500 hours. What is the predetermined overhead rate?
Determine impact of increase in the price of soybean : Determine the impact of the increase in the price of soybeans on the rental rate of land and determine the impact of the increase in the price of soybeans on the welfare (real wage) of labor.
What is the specific heat of this metal : when 50.0 gram of metal at 75.0 C is added to 100 grams of water at 15.0 C the temperature of the water rises to 18.3 C. Assume that no heat is lost to the surroundings. What is the specific heat of this metal
Pretend you are a substance : Pretend you are a substance abuse educator and you have been asked to address a high school class and explain how the brain affects human behavior without the introduction of any prescription or illegal drugs.
Sketch a streamline pathline and streakline : Sketch a streamline, pathline, and streakline, For a given flow the velocity from time t=0 to t=5s was u=2 m/s, v=0. Then from t=5s to t=10s the velocity was u=+3 m/s, v=-4 m/s. A dye streak was started at t=0

Reviews

Write a Review

Financial Accounting Questions & Answers

  Calculate the estimated loss on the inventory from the fire

Based on recent history, Hodge’s gross profit ratio on Product Tex is 36% of net sales. Calculate the estimated loss on the inventory from the fire, using the gross profit method.

  Cost of goods sold in perpetual inventory system

Calculation of Cost of Goods sold in Perpetual Inventory System - What is the cost of finished goods manufactured in August and What is the cost of goods sold manufactured in August?

  Erroneously recorded and accounts payable

Erroneously recorded and accounts payable and Prepare bank reconciliation as of 31 Oct from

  What is the amount of interest revenue

The PV of $1 at 10% for 3 periods is 0.75. What is the amount of interest revenue that should be included in Abel’s 2013 income statement?

  Prepare a business valuation using the market value method

Prepare a business valuation for 2013 using the market value technique, the book value method, and the multiples-based techniques.

  What communications would you be required

The portfolio, which consisted of traded securities, had increased in market value by $5 million. Materiality for the audit was $10 million. What communications would you be required to make to those charged with governance?

  What is the maximum profit that missou mining company

Identify any costs in the the problem that are not relevant to this decision and What is the maximum profit that Missou Mining Company can expect to earn from the production of the 400,000 tons of Alpha

  Elucidate the amoutn of revenue recognised in the financial

Elucidate the amoutn of revenue if any that should be recognised in the financial statement of ABC's for the year end 31st december 2011???

  Calculate the indirect production cost allocated

Calculate the indirect production cost allocated to each product with the ABC system. Suppose all indirect production cost had been allocated.

  Examine how corporation address non-liquidating distribution

Examine how corporations address non-liquidating distributions are addressed, determine the mistake most difficult to avoid, and make at least one recommendation for how to avoid the mistake you identified.

  Determine the relavant costs

The increase in volume will be large enough to require increases in fixed selling expenses and in general administrative overhead, but not in fixed manufacturing overhead.

  Evaluate cash flow from operations

What are earnings before interest and taxes and What is net income and evaluate cash flow from operations?

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd