User Account

All Pages

What was chipata underapplied or overapplied overhead

Assignment Help Accounting Basics
Reference no: EM133115592

Question - Chipata Corporation applies manufacturing overhead to jobs on the basis of machine-hours. Chipata estimated 25,000 machine-hours and $10,000 of manufacturing overhead cost for the year. During the year, Chipata incurred 26,200 machine-hours and $11,300 of manufacturing overhead. What was Chipata's underapplied or overapplied overhead for the year?

Reference no: EM133115592

Questions Cloud

Summarize the different strategic alternatives : 1. Summarize the different strategic alternatives that Quintiles should consider and their pros and cons.
What amount of revenue from investment should be reported : Diana paid P7,000,000 for this investment when fair value of the investee's net assets was P35,000,000. What amount of revenue from investment should reported
Wiig knowledge management model : Explain in detail the Wiig's Knowledge management model. How is the Wiig KM model related to the Nonaka and Takeuchi model?
Prepare an amortization schedule to amortize prior service : Prepare an amortization schedule to amortize the unrecognized prior service costs using the years of future service method
What was chipata underapplied or overapplied overhead : Chipata estimated 25,000 machine-hours and $10,000 of manufacturing overhead cost for the year. What was Chipata's underapplied or overapplied overhead
Establish a hedge for the currency exposure : A UK company purchased goods for €870,000 in December, which it must pay for in May. It wishes to hedge its exposure to risk using futures. The spot rate when t
What the predetermined overhead rate : The actual labour-hours for the year turned out to be 31,000 labour-hours. What the predetermined overhead rate for the recently completed year
Identify public bank economic characteristic : Question 1: Identify public bank economic characteristic. Question 2: Identify and know about public bank services.
Components of the nominal long term interest rate : (i) Write down an equation for the three main components of the nominal long term interest rate on a bond, clearly explaining what each symbol represents.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the effect in accounting for income taxes

What is the effect in accounting for income taxes for items recognized directly in equity (e.g. revaluation surplus, employee stock option plan, etc.)

  What is the pension expense for the year ending

Willow Inc. has a defined contribution plan. What is the pension expense for the year ending 20X1, assuming a discount rate of 5%

  Calculate the ratios in exhibit

Calculate the ratios in Exhibit 13.5 for which sufficient information is available. Round all calculations to two decimal places. Assume that you work in the loan department of a local bank. You have been asked to analyze the situation and recommend ..

  How much of the costs represent direct labor cost

Overhead is applied at the rate of 20% of direct materials cost. Direct labor is 300% of overhead applied. How much of the costs represent direct labor cost

  Why is it important for companies to disclose the

why is it important for companies to disclose the different types of intangibles that they own? how much disclosure is

  What is Gary basis in his partnership interest

Assuming that the partners share profits and losses equally what is Gary's basis in his partnership interest at the end of 2019

  What is the capitalizable borrowing cost

What is the capitalizable borrowing cost? On January 1, 2020, an entity borrowed P6,000,000 at an annual interest rate of 10% to finance specifically the cost

  What is the amount of goodwill

Smith Ltd acquired all the shares of Jon Ltd for $1,470,000. What is the amount of Goodwill, if any, that Smith Ltd will record on acquisition of Jon Ltd

  Prepare the production budget for vitapup

The company expects sales to be 13,000 bags in January, Prepare the production budget for VitaPup for the months of January, February, and March

  Prepare the journal entry on december

On January 1, 2011, Borstad Company purchased equipment for $1,180,000, Prepare the journal entry on December 31, 2016 to record the impairment.

  Determine the amount of goodwill

Determine the amount of goodwill (or bargain purchase) arising out of the acquisition if the purchase consideration paid was $1,000,000 cash

  The auditors could have taken to prevent or detect the fraud

The auditors could have taken to prevent or detect the fraud

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