User Account

All Pages

What was ghi applied overhead for the year

Assignment Help Managerial Accounting
Reference no: EM132537468

The following cost data pertains to GHI Inc. for December 31st, 2019:

Beginning Work-in-Process:$20,000

Ending Work-in-Process:$10,000

Direct Materials Used:$40,000

Direct Costs Incurred in Production:$60,000

Actual Indirect costs incurred in Production:$76,000

($36,000 of which is fixed)

Beginning Finished Goods Inventories:$80,000

Ending Finished Goods Inventories:$40,000

Question 1: Budgeted Fixed Factory Overhead was $40,000 based on an expected activity level of 10,000 hours. During the period, GHI employees worked a total of 8,000 direct labour hours. GHI uses a job-order costing system and applies overhead costs using direct labour hours. What was GHI's applied overhead for the year?

Reference no: EM132537468

Questions Cloud

Research current health policy of your choice : Research a current health policy of your choice and discuss why you find it relevant to you personally and the population.
Analyze four potential investigational sites : Analyze four potential investigational sites, write up the pros and cons for each and select one of them based on your analyses.
Elements of an effective compliance program : What do you think are the top 3 most important elements of an effective compliance program?
Is the united states is headed in the right direction : How does today's US healthcare system compare and contrast with the US Health Care system featured during the year you were born.
What was ghi applied overhead for the year : GHI uses a job-order costing system and applies overhead costs using direct labour hours. What was GHI's applied overhead for the year?
What impact diseases have on the delivery of services : In this course you will learn about illnesses and diseases that affect the human body. You will also learn about what impact these diseases have on the delivery
What is the importance of epidemiology in local : What is the importance of epidemiology in local, national, and global health?
Employee turnover : Employee turnover in the hospitality industry averages 400% annually. This means that, on average, 100% of the staff of a restaurant, hotel, airline
How to determine the present value index for each proposal : How to Determine the present value index for each proposal. Round your answers to two decimal places. The net present value for Proposals X and Y

Reviews

Write a Review

Managerial Accounting Questions & Answers

  What is the breakeven quantity for yoga mats next year

What is the breakeven quantity for Yoga MATS next year? yoga company sells three products, and anticipates the following sales volume next year

  What is the shadow price for electronic components

What is the shadow price for Electronic Components? Explain to management how they might use this to increase profits? Calculate the upper limit for which this shadow price is valid. What happens when the upper limit is breached?

  What is the minimum amount the company should accept

What is the minimum amount the company should accept for Gooey Mooey if it is to be sold at the split-off point? What is the net monetary advantage

  What would be the total budgeted overhead cost

What would be the total budgeted overhead cost for next month if the activity level is 2,200 machine-hours rather than 2,300 machine-hours?

  Why organisations are interested in activity-based technique

Why organisations are interested in activity-based techniques and why activity-based costing is different from conventional methods and why implementing Activity-based costing can be difficult?

  Calculate the rate and production-volume variances

Calculate the rate and production-volume variances for fixed setup overhead costs. Calculate the rate and efficiency variances for variable setup overhead

  Prepare variable costing income statements for july

Reconcile the variable costing and absorption costing net operating incomes. Prepare variable costing income statements for July and August.

  Determine direct materials price and efficiency variances

Compute the direct manufacturing labour rate and efficiency variances for the quarter. During the second quarter the company made 1,600 curtains.

  Objectivity of each of the two measurement systems

Determine the objectivity of each of the two measurement systems for the year under consideration. On the basis of your examination, which of the two systems would you prefer?

  Calculate fixed and variable cost

Create an excel spreadsheet to calculate fixed and variable cost data for evaluating alternative approaches - what numbers of orders are the total costs

  Solve the consumption ratios for the four drivers

Calculate the unit cost assuming that 500 deluxe models were produced and 700 standard models were produced, rounded to the nearest cent.

  Determine the cost of goods sold for january

Determine the Cost of Goods Sold for January and provide the Job number(s) in Cost of Goods Sold for January and determine the total cost of goods sold

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