Tag: accounting

“Crinks Corporation uses direct labor-hours for its predetermined overhead allocation rate. At the beginning of the year, the estimated direct labor-hours were 11,200 hours and the total estimated manufacturing overhead was $259,840. At the end of the year, actual direct labor-hours for the year were 10,800 hours and the actual manufacturing overhead for the year was $254,840. Overhead at the end of the year was:”,”$4,280 underappliedPredetermined overhead rate = ESTIMATED total MOH ÷ ESTIMIATED DLH $259,840 ÷ 11,200 = $23.2023.20 X 10,800 ACTUAL HOURS=250,560 *which is below the actual MOH 254,840 by 4

Managerial Accounting

Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.“Crinks Corporation uses direct labor-hours[…]

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“The Work in Process inventory account of a manufacturing firm shows a balance of $3,000 at the end of an accounting period. The job cost sheets of two uncompleted jobs show charges of $500 and $300 for direct materials, and charges of $400 and $600 for direct labor. From this information, it appears that the company is using a predetermined overhead rate, as a percentage of direct labor costs, of:”,”Work-in-Process = Direct materials + Direct labor + Manufacturing overhead applied$3,000 = ($500 + $300) + ($400 + $600) + x$1,200 = x $1,200 ÷ $1

Managerial Accounting

Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.“The Work in Process inventory[…]

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