Denner Company incurred actual manufacturing overhead costs of $260,000 during the year ended December 31, 2016. A
Question:
Denner Company incurred actual manufacturing overhead costs of $260,000 during the year ended December 31, 2016. A total of $350,000 in overhead was applied to jobs. At December 31, 2016, work-in-process inventory totals $100,000, and finished goods inventory totals $300,000. Cost of goods sold before adjustments totals $600,000 for the year.
Required:
a. Is overhead underapplied or overapplied?
b. Close the manufacturing overhead account, assuming the balance is immaterial.
c. Close the manufacturing overhead account, assuming the amount is material.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 88% (17 reviews)
a The Manufacturing Overhead account has a credit balance of 90000 Thus overhead is overappliedtoo m...View the full answer
Answered By
Nicholas Maina
Throughout my tutoring journey, I've amassed a wealth of hands-on experience and honed a diverse set of skills that enable me to guide students towards mastering complex subjects. My proficiency as a tutor rests on several key pillars:
1. Subject Mastery:
With a comprehensive understanding of a wide range of subjects spanning mathematics, science, humanities, and more, I can adeptly explain intricate concepts and break them down into digestible chunks. My proficiency extends to offering real-world applications, ensuring students grasp the practical relevance of their studies.
2. Individualized Guidance:
Recognizing that every student learns differently, I tailor my approach to accommodate various learning styles and paces. Through personalized interactions, I identify a student's strengths and areas for improvement, allowing me to craft targeted lessons that foster a deeper understanding of the material.
3. Problem-Solving Facilitation:
I excel in guiding students through problem-solving processes and encouraging critical thinking and analytical skills. By walking learners through step-by-step solutions and addressing their questions in a coherent manner, I empower them to approach challenges with confidence.
4. Effective Communication:
My tutoring proficiency is founded on clear and concise communication. I have the ability to convey complex ideas in an accessible manner, fostering a strong student-tutor rapport that encourages open dialogue and fruitful discussions.
5. Adaptability and Patience:
Tutoring is a dynamic process, and I have cultivated adaptability and patience to cater to evolving learning needs. I remain patient through difficulties, adjusting my teaching methods as necessary to ensure that students overcome obstacles and achieve their goals.
6. Interactive Learning:
Interactive learning lies at the heart of my approach. By engaging students in discussions, brainstorming sessions, and interactive exercises, I foster a stimulating learning environment that encourages active participation and long-term retention.
7. Continuous Improvement:
My dedication to being an effective tutor is a journey of continuous improvement. I regularly seek feedback and stay updated on educational methodologies, integrating new insights to refine my tutoring techniques and provide an even more enriching learning experience.
In essence, my hands-on experience as a tutor equips me with the tools to facilitate comprehensive understanding, critical thinking, and academic success. I am committed to helping students realize their full potential and fostering a passion for lifelong learning.
4.90+
5+ Reviews
16+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Riverside Company incurred actual manufacturing overhead costs of $630,000 during the year ended December 31, 2016. A total of $570,000 in overhead was applied to jobs. At December 31, 2016,...
-
Tyge Corporation recorded the following activities during its first month of operations: Purchased materials costing $300,000. Used direct materials in production costing $280,000. Incurred direct...
-
CRB's Cabinet Company builds kitchen cabinets. On November 1, 2016, two jobs, Job 045 and Job 048, were in progress. The order is from Grace Apartments and was begun on October 5, 2016. The...
-
Find the eccentricity of the hyperbola. Then find and graph the hyperbolas foci and directrices. x 2 - y 2 = 1
-
Photochemical chlorination of pentane gave a mixture of three isomeric monochlorides. The principal monochloride constituted 46% of the total, and the remaining 54% was approximately a 1:1 mixture of...
-
How do aircraft routings and passenger connections differ in a directional versus an omni-directional hub? Why are directional hubs less expensive to operate?
-
What purposes are served in confirming debt with holders?
-
The stockholders equity accounts of Ashley Corporation on January 1, 2012, were as follows. Preferred Stock (8%, $50 par, cumulative, 10,000 shares authorized)..... $ 400,000 Common Stock ($1 stated...
-
A roller coaster moves 85m horizontally and then travels 45m at an angle of 30 to the horizontal. What is its displacement from its starting point?
-
Show how ethyl phenyl ketone (C6H5COCH2CH3) could be synthesized from each of the following: (a) Benzene (b) Benzonitrile, C6H5CN (c) Benzaldehyde
-
Westley Company provides engineering services. It began jobs 1 through 3 in the first week of June. The following transactions occurred during that time. 1. Purchased supplies on account totaling...
-
Heston Corporation provides accounting services. It uses a job costing system to track each clients revenues and costs. The firm is currently working on two jobs. The first job, preparing tax returns...
-
The arrival cost for purchasing the 90,000 shares of BYYP is: A. 164.4 bp. B. 227.2 bp. C. 355.0 bp. Robert Harding is a portfolio manager at ValleyRise, a hedge fund based in the United States....
-
Dr. Binod Sinha contracted with Cabanaman Pools & Spa, LLC, to perform services at his home for a contract price of \($41,000.\) During the course of the work, Sinha paid Cabanaman \($31,000.\) Then,...
-
Anders Johansson owned Titan Custom Cabinets, Inc., which had accounts with the bank SunTrust. In early May 2017, Johansson deposited a check from a customer into one of Titans accounts at SunTrust....
-
Teri Zemencik was an employee at IGS Industries for 22 years until her termination due to embezzling funds. At the time of her termination, Zemencik was the payroll supervisor in IGSs accounting...
-
In June 2018, Anthony Houston maintained a deposit account with Fifth Third Bank. On or about June 15, 2018, an unknown third party deposited a check in Houstons account at one of Fifth Thirds...
-
The plaintiff in this case is a resident of South Sudan who attended Princeton University from September 2007 to 2011. She opened an account with Bank of America while she was a student and deposited...
-
What are the major elements of a logistics management system? Explain the benefits of a well-run just-in-time inventory management system.
-
The manager of a local convenience store is expanding his line of small toy items. To price these new items, the manager is looking at the prices being charged by competing retailers in his area. For...
-
MediSecure, Inc., produces clear plastic containers for pharmacies in a process that starts in the Molding Department. Data concerning that department's operations in the most recent period appear...
-
MediSecure, Inc., produces clear plastic containers for pharmacies in a process that starts in the Molding Department. Data concerning that department's operations in the most recent period appear...
-
Refer to the data for Pureform, Inc., in Exercise 48. Pureform, Inc., manufactures a product that passes through two departments. Data for a recent month for the first department follow: Required:...
-
Using the Internet, identify a known sexual offender who has been arrested, convicted, and sentenced. Using the available information, describe each of the following: (a) The type of behavior that...
-
Of our secondary and tertiary education system, are we doing a great job preparing students for the professional world post-college, or should that be placed upon the employer? If we need have a...
-
The analysis of the current strategic and leadership issues related to human resources and environmental pressure that the Australian hospitality and tourism industry faces due to labor shortage,...
Study smarter with the SolutionInn App