Premium Woods manufactures jewelry boxes. The primary materials (wood, brass, and glass) and direct labor are assigned directly to the products. Manufacturing overhead costs are allocated based on machine hours. Data for 2016 follow: Requirements 1. Compute the predetermined overhead
1. Compute the predetermined overhead allocation rate.
2. Post actual and allocated manufacturing overhead to the Manufacturing Overhead T-account.
3. Prepare the journal entry to adjust for underallocated or overallocated overhead.
4. The predetermined overhead allocation rate usually turns out to be inaccurate. Why don€™t accountants just use the actual manufacturing overhead rate?
Estimated 26,500 hours 12,000 43,000 23,000 49,000 35,000 85,000 44,000 Actual Machine hours Maintenance labor (repairs to equipment) Plant supervisor's salary Screws, nails, and glue Plant utilities Freight out Depreciation on plant and equipment Advertising expense 32,600 hours S 29,500 49,000 48,000 90,850 47,500 84,000 54,000
This problem has been solved!
- Tutor Answer
Requirement 1 12 000 43 000 23 000 49 000 85 000 212 000 Requi…View the full answer
Today’s experiment is to make glue using simple material easily available at home. For this experiment, you need 25 ml of petrol also called gasoline. 250 ml water for solubility test. A wooden stick for mixing. And most importantly4 pieces of Thermocol sheet chemically named Polystyrene. When Thermocol is dissolved in Gasoline, Glue is formed.
Students also viewed these Managerial Accounting questions