User Account

All Pages

What was the under applied or over applied overhead

Assignment Help Accounting Basics
Reference no: EM131891272

Question - Ziggy Corp. is a job lot manufacturer. The budget for the month of June calls for 8,000 direct labor hours to be worked. Budgeted overhead is $80,000 with a predetermined rate of $10 per hour. Overhead is applied based on actual direct hours worked. Actual direct hours were 8,200 and actual overhead spending was $90,000. What was the under applied or over applied overhead for the month of June? Over applied is shown as a negative number.

Reference no: EM131891272

Questions Cloud

Prepare the general journal entry to record the transaction : On July 1, a corporation issued 15,000 shares of $3.00 par value common stock in exchange. Prepare the general journal entry to record this transaction.
Why sarbanes-oxley has lead to a decline : What issues do critics cite when discussing why Sarbanes-Oxley has lead to a decline in U.S. capital markets? What is assessment of this topic?
Discuss about the nations history of racial inequality : An in-depth look at the prison system in the United States and how it reveals the nation's history of racial inequality.
Differentiate between the real risk free rate : Differentiate between the real risk free rate and the nominal risk free rate of interest. Which should be used when used to assign value or cost to an asset?
What was the under applied or over applied overhead : Actual overhead spending was $90,000. What was the under applied or over applied overhead for the month of June? Over applied is shown as a negative number
What is the firm times interest earned ratio : Depreciation expense of $400,000 and Interest expense of $250,000 on its most recent income statement. What is the firm's times interest earned ratio?
What is the formula for cost of goods sold : What is the formula for cost of goods sold for a merchandising or manufacturing company? What is a schedule of accounts payable
What is the firm total debt ratio : Costello Corp. has total assets of $200 million; long-term debt of $50 million; and total owner's equity of $120 million. What is the firm's total debt ratio?
What is the firm return on equity : XYZ Corp. has a total asset turnover ratio of 1.5 and a profit margin of 5%. XYZ has $100 million in total assets and $40 million in total owner's equity.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the direct labor rate variance for the month

Madden Corporation manufactures t-shirts, which is its only product. What is the direct labor rate variance for the month

  Prepare a sales budget and a production budget

Melody Audio Company manufactures two models of speakers, DL and XL. Based on the following production and sales data for Sept. 2007

  Module is to review the statement of cash flows

The main purpose of this module is to review the statement of cash flows in more detail.Is there a difference between direct and indirect methods to make a statement of cash flows? Discuss and note two or three specific differences. In addition, ..

  Analyze what went wrong that caused the system

Analyze what went wrong that caused the system of internal control to fail, and what could have been done differently to prevent the problems.

  The franc zeppo venture manufactures a product that goes

the franc zeppo venture manufactures a product that goes through two processing departments. information relating to

  What is the gain on redemption

Question - At December 31, 2017, the following balances existed: 30% of the bonds are retired at 101 on Jan 1, 2018. What is the gain on redemption

  Compute the material variances and labor variances

During September, Gandolph purchased 320,000 kg of DM at a total cost of $608,000. Compute the Material variances and Labor variances

  Describe the competitive advantage of nations

Competitiveness of the Home Market. A strongly competitive home market can sharpen a firm's competitive advantage relative to firms located.

  This consists of one or two paragraphs with title

This consists of one or two paragraphs with title on what you propose to write about in your term paper. The term paper topic must be relevant to Astronomy involving any aspect of stars, planetary systems, galaxies, cosmology, etc.

  Which of the given defines economic value added

Which of the following defines Economic value added (EVA)? a. annual after-tax operating profit minus the total annual cost of capital.

  How do i come up with the correct calculations to record

How do I come up with the correct calculations to record in a journal entry? I know how to record the expense - I can't figure out what number to write.

  How raffie kids should report mortgage on its balance sheet

Raffie's Kids, a nonprofit organization that provides aid to victims of domestic violence, low-income families, and special-needs children, has a 30-year.

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