1. Adansonii Company applies factory overhead on the basis of direct labor hours. Budget and actual...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
1. Adansonii Company applies factory overhead on the basis of direct labor hours. Budget and actual data for direct labor and overhead for the year are as follows: Budget Direct labor hours Factory overhead costs The factory overhead for Cherokee for the year is a. overapplied by P20,000 b. overapplied by P40,000 c. underapplied by P20,000 d. underapplied by P40,000 Direct Labor amounted to: a. P50,000 b. P100,000 c. P110,000 d. P130,000 2. Leejo Corp. makes aluminum fasteners. Among its manufacturing costs were: Wages and Salaries: Machine Operators Factory Supervisors Machine Mechanics 600,000 P720,000 a. P2,340 b. P2,205 c. P2,070 d. P1,800 P80,000 P30,000 P20,000 Actual a. P9,000 b. P9,900 c. P8,900 d. P9,500 650,000 P760,000 3. Jose Santos worked 46 hours in one week at a rate of P 45 an hour. He is paid one and a half times the regular rate for hours worked in excess of 40. What is the gross earnings of Jose Santos? 4. Frol G., a production employee is paid P180.00 per hour for a regular work of 40 hours. During the week ended March 23, Froi G worked 50 hours and eamed time and a half for overtime hours. What is the amount that should be charged to Work in Process account if the overtime is charged to production worked on during the overtime hours? 1. Adansonii Company applies factory overhead on the basis of direct labor hours. Budget and actual data for direct labor and overhead for the year are as follows: Budget Direct labor hours Factory overhead costs The factory overhead for Cherokee for the year is a. overapplied by P20,000 b. overapplied by P40,000 c. underapplied by P20,000 d. underapplied by P40,000 Direct Labor amounted to: a. P50,000 b. P100,000 c. P110,000 d. P130,000 2. Leejo Corp. makes aluminum fasteners. Among its manufacturing costs were: Wages and Salaries: Machine Operators Factory Supervisors Machine Mechanics 600,000 P720,000 a. P2,340 b. P2,205 c. P2,070 d. P1,800 P80,000 P30,000 P20,000 Actual a. P9,000 b. P9,900 c. P8,900 d. P9,500 650,000 P760,000 3. Jose Santos worked 46 hours in one week at a rate of P 45 an hour. He is paid one and a half times the regular rate for hours worked in excess of 40. What is the gross earnings of Jose Santos? 4. Frol G., a production employee is paid P180.00 per hour for a regular work of 40 hours. During the week ended March 23, Froi G worked 50 hours and eamed time and a half for overtime hours. What is the amount that should be charged to Work in Process account if the overtime is charged to production worked on during the overtime hours?
Expert Answer:
Answer rating: 100% (QA)
The detailed answer for the above question is provided below Sure Here are the answers to your quest... View the full answer
Related Book For
Cost Accounting Foundations and Evolutions
ISBN: 978-1111626822
8th Edition
Authors: Michael R. Kinney, Cecily A. Raiborn
Posted Date:
Students also viewed these finance questions
-
1. After reviewing what a S.M.A.R.T.goal is and how it can be effective, consider the benefits of such a thing. Set up a S.M.A.R.T goal for your own retirement. 2. offer suggestions on how to improve...
-
The treasurer of Tropical Fruits, Inc., has projected the cash flows of Projects A , B , and C as follows: Year Project A Project B Project C 0 $ 1 7 5 , 0 0 0 $ 3 2 5 , 0 0 0 $ 1 7...
-
Pip Squeaks Inc. is a manufacturer of furnishings for infants and children. The company uses a job order cost system. Pip Squeaks Work in Process Inventory on April 30, 2010, consisted of the...
-
Which of the following expressions correctly returns an integer that represents the month of a Local Date object named hireDate? a. GetMonth(hireDate) b. GetMonthValue(hireDate) c....
-
Micado Corporation was formed on January 1, 2017. At December 31, 2017, Miko Liu, the president and sole stockholder, decided to prepare a balance sheet, which appeared as follows. Miko willingly...
-
Max's Treats produces high-quality dog food distributed only through veterinary offices. To ensure that the food is of the highest quality and has taste appeal, Max has a rigorous inspection process....
-
The corporate social responsibility highlighted in this chapter (see page 585) mentions that Home Depot believes in giving back. One of the ways the company has done this is through its Team Depot...
-
The Carpenter Company adopted a defined benefit pension plan for its employees on January 1, 2007. At the time of adoption the pension contract provided for retroactive benefits for the companys...
-
Please describe how you have prepared this quarter for your intended major, including your readiness to [ write ] in your upper - division courses once you enroll at the university.
-
In the figure above, if Mac and Izzie each initially start at point a and then both completely specialize and trade with each other what are the gains from trade? 24 computers and 24 TV sets per...
-
3. Let h : [0, 1] R be continuous. Prove that there exists w e [0, 1] such that 2w + 2 w +1 h(1). 12 h(w) w +1 h(0)+ 9.
-
1. Explain the four traditional positions and titles. What are the three key roles most startups require in the early days?
-
A stock has a beta of 1.2, the riskless rate is 0.04 and the market premium is 0.1. The stock will return a constant $2 as dividend in perpetuity. What is the price of the stock? Note: Like the...
-
Exercise Characters Our case study begins with two brothers, Evan and Anthony, a pair that couldn t be more different than if they tried. Anthony known as Auto is a dashing young man in his early 3 0...
-
The traditional electrical distribution systems have changed do to new demands and technological advances. How will these changes impact the fire investigator?
-
Write a description of the Exit Windows dialog box. Your description should answer these questions. i Exit Windows This will end your Windows session. OK Cancel 1 What does this computer screen show?...
-
The 60x30TX initiative was put in place to assure that at least 60 percent of a. stWhen Katrine purchased cigarettes, a newspaper, and candy at the convenience store, she was charged an extra tax on...
-
Hotel Majestic is interested in estimating fixed and variable costs so that the company can make more accurate projections of costs and profit. The hotel is in a resort area that is particularly busy...
-
Why must the word cost be accompanied by an adjective to be meaningful?
-
The April 2010 income statement for Fabio's Fashions has just been received by Diana Caffrey, Vice-President of Marketing. The firm uses a variable costing system for internal reporting purposes. The...
-
Why do more traditional methods of overhead assignment overload standard high-volume products with overhead costs. How does ABC improve overhead assignments?
-
Below are selected data from Microsoft's recent financial statements: Required Calculate the following ratios for 2017 and 2016 and comment on the trend: a. Current ratio b. Quick ratio Net income...
-
The chapter highlight on Microsoft's corporate social responsibility efforts discussed two of the company's efforts. Go to Microsoft's Website and navigate to the section "About Microsoft;" then...
-
Cedric Salos is considering different ways to raise money for the expansion of his company's operations. Cedric is not sure about the advantages of issuing bonds versus issuing common stock. In...
Study smarter with the SolutionInn App