Question: Crochet Company allocates overhead based on machine hours. Estimated overhead costs for the year total $390,000 and the company estimates that it will use 50,000

Crochet Company allocates overhead based on machine hours. Estimated overhead costs for the year total $390,000 and the company estimates that it will use 50,000 machine hours during the year. Crochet works 48,000 machine hours during the year and incurs $380,000 of actual overhead?a. what is the overhead application rate for the year?
b. what is the amount of applied overhead for the year?
c. what is the amount of under or overapplied overhead for the year? label over or under.

Step by Step Solution

★★★★★

3.40 Rating (175 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a Over head application rate estimated overheadestimated hours 390000 500... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

1019-B-C-F-D-F(2407).docx

120 KBs Word File

Students Have Also Explored These Related Corporate Finance Questions!

Joe Bell, president and chief executive officer of Dyna Golf, has called a meeting of the executive committee of his board of directors. He is concerned about the price competition and declining...

Christine Corp. uses a job order costing system for its production costs. A predetermined cost driver rate based on machine hours is used to apply overhead to individual jobs. The following...

The Ramapo Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and Assembly. Data for the products and departments are listed below. All of the...

Crochet Company allocates overhead based on machine hours. Estimated overhead costs for the year total $390,000. The company estimates that it will use 60,000 machine hours during the year, have...

Crochet Company allocates overhead based on machine hours. Estimated overhead costs for the year total $390,000 and the company estimates that it will use 50,000 machine hours during the year....

Each question must show either a qualitative or quantitative explanation. Over explain at the risk of under explaining. 1.List and briefly describe at least five differences between managerial...

Stranahan Company allocates overhead based on machine hours. Estimated overhead costs for the year total $217,000 and the company estimates that it will use 31,000 machine hours during the year....

Tyus Company allocates overhead based on machine hours. Estimated overhead costs for the year total $390,000 and the company estimates that it will use 50,000 machine hours during the year. Tyus...

Factory Containers allocates overhead based on machine hours. Estimated overhead costs for the year total GH 6 8 , 0 0 0 and the company estimates that it will use 1 6 , 0 0 0 machine hours during...

Please have detailed analysis and calculations Barnett Brass allocates overhead based on machine hours. Estimated overhead costs for the year total $420,000 and the company estimates that it will use...

As a Manager, you have noticed that number of employees are requiring an assessment on their skill sets, and have not been performing according to their learnt skills. report (memo) to the Managerial...

Ticker Services began operations in 2011 and maintains long- term investments in available- for- sale securities. The year- end cost and fair values for its portfolio of these investments follow....

4.71 The length of time Y , in minutes, required to generate a human reflex to tear gas has the density function f(y) = 12 e y /2, y>0, 0, elsewhere. (a) What is the mean time to reflex? (b) Find E(Y...

2.53. (Sec. 2.5) Show where 13 = I12Iit [Hint: Use Theorem A.3.3 of the Appendix and the fact that I -1 is symmetric.] 0 -1 11-2 21-11-2 I - 11-2124 22 5- 2111 212 -B' (1 - 1),

Isolated from marine algae, prelaureatin is thought to be biosynthesized from laurediol by the following route. Propose amechanism. . HO. "Br* Bromo- peroxidase Br- Laurediol Prelaureatin

How would you distinguish between the following pairs of compounds using simple chemical tests? Tell what you would do and what you would see. (a) Cyclopentane and cyclopentane (b) 2-Hexene and...

Dichiorocarbene can be generated by heating sodium trichioroacetate. Propose a mechanism for the reaction, and use curved arrows to indicate the movement of electrons in each step. What relationship...

Developing a Relationship Strategy A. Describe the typical relationship between salesperson and customer in this field. B. Describe the appropriate salespersons attitude. C. Describe the appropriate...

The monthly income of undergraduate students of Brac University is known to follow a normal distribution with a mean of Tk. 9000 and a standard deviation of Tk. 2500. A career bootcamp is being...

QUESHON 6110 Marks) The R&D department of laptop bag manufacturer is gathering feedback for their new design. 300 bags were distributed to their staff. Their age is between 21 and 49 years old. They...