What was the amount of under or overapplied manufacturing

Assignment Help Accounting Basics
Reference no: EM133052577

Question - Cardella Pty Ltd applies overhead based on direct labour costs. The company estimates annual overhead costs will be $595,000, and annual direct labour costs will be $850,000. During February, Cardella works on two jobs: A16 and B17.

Summary data concerning these jobs are as follows.

Manufacturing Costs Incurred

Purchased $64,000 of raw materials on account.

Factory labour $86,000, plus $4,000 employer payroll taxes.

Manufacturing overhead exclusive of indirect materials and indirect labour $59,800.

Assignment of Costs

Direct materials : Job A16 $27,000 and Job B17 $21,000 Indirect materias : $5,000

Direct Labor : Job A16 $52,000 and Job B17 $26,000 Indirect Labor : $4,000

The company completed Job A16 and sold it on account for $150,000. Job B17 was only partially completed.

a) Compute the predetermined overhead rate and describe the meaning of the result.

b) Journalize in Cardella Pty Ltd in February transactions.

c) What was the amount of under or overapplied manufacturing.

Reference no: EM133052577

Questions Cloud

Non Ethernet protocols Wireshark can capture : Explain three possible uses of a SPAN port that you might use as a forensic investigator. Describe three non-Ethernet protocols Wireshark can capture.
Big data analytics in e-healthcare industry : There are several benefits as well as challenges associated with the use of Big Data Analytics in the e-Healthcare industry.
Different types of malware to attack systems : Cybercriminals use many different types of malware to attack systems. , explain how to defend yourself against Spyware.
Implement secure wireless network : Evaluate how to implement a secure wireless network using Active Directory and RADIUS server.
What was the amount of under or overapplied manufacturing : Manufacturing overhead exclusive of indirect materials and indirect labour $59,800. What was the amount of under or overapplied manufacturing
What are the nintendo revenue streams : What are the Nintendo Revenue streams in the business model canvas? I am not able to figure out the asset sales.
Unbiased recommendations : Write a response about how you approached locating and vetting high-quality, unbiased sources of information when researching trends,
Prepare journal entries to record each of these transactions : Common stock-$10 par value, 100,000 shares authorized, 50,000 shares issued and outstanding $500,000. Prepare journal entries to record each of transactions
Criminal justice system : Focus on ways of LGBTQ youth can be pushed out of school, into the criminal justice system, and into situations where they are unhoused (aka "homeless").

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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