Business, 16.06.2020 19:57 raulhill98

Smith Foundry in Columbus comma Ohio, uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the beginning of the year, the company expected to incur the following: Manufacturing overhead costs $630,000
Direct labor cost 1650,000
Machine hours 90,000

Direct labor cost $1230,000
Depreciation on manufacturing plant and equipment 480,000
Property taxes on plant 19,500
Sales salaries 26,500
Delivery drivers' wages 17,000
Plant janitors' wages 8500
Machine hours 56,500 hours

Requirements:
1. Compute Smith's predetermined manufacturing overhead rate.
2. How much manufacturing overhead was allocated to jobs during the year?
3. How much manufacturing overhead was incurred during the year? Is manufacturing overhead underallocated or overallocated at the end of the year? By how much?
4. Were the jobs overcosted or undercosted? By how much?

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 01:30

What is an example of a good stock to buy during economic expansion? a) cyclical stock b) defensive stock c) income stock d) bond

Answers: 3

Answer

Business, 22.06.2019 02:20

Larissa has also provided the following information. during the year, the company raised $36 million in new long-term debt and retired $20.52 million in long-term debt. the company also sold $22 million in new stock and repurchased $32.4 million. the company purchased $54 million in fixed assets, and sold $6,107,400 in fixed assets. larissa has asked dan to prepare the financial statement of cash flows and the accounting statement of cash flows. she has also asked you to answer the following questions: 1. how would you describe east coast yachts' cash flows? 2. which cash flows statement more accurately describes the cash flows at the company? 3. in light of your previous answers, comment on larissa's expansion plans.

Answers: 2

Answer

Business, 22.06.2019 02:30

rural residential development company and suburban real estate corporation form a joint stock company. the longest duration a joint stock company can be formed for is

Answers: 2

Answer

Business, 22.06.2019 06:10

Amanda works as an industrial designer

Answers: 1

Answer

You know the right answer?

Smith Foundry in Columbus comma Ohio, uses a predetermined manufacturing overhead rate to allocate o...

Questions