Stanford Enterprises uses job-order costing. - Overhead is applied on the basis of direct labor hours....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Stanford Enterprises uses job-order costing. - Overhead is applied on the basis of direct labor hours. The following information relates to the year just ended. Data: 5 Estimated total overhead costs 5 Estimated total direct labor hours Actual total direct labor hours 3 Actual costs for the year: Purchase of raw (direct) materials Direct labor cost Manufacturing overhead 11 12 13 14 Inventories: 15 16 17 Raw Materials (All Direct) Work in Process Finished Goods 18 19 Use the data to answer the following. 20 21 1. Overhead: 22 23 Actual overhead cost Predetermined overhead rate $ 27,875 34,600 $ ASS $ Beginning $ 15,000 $ $ 275,000 25,000 27,760 375,000 536,300 302,750 Ending 11,375 22,350 26,450 Stanford Enterprises uses job-order costing. - Overhead is applied on the basis of direct labor hours. The following information relates to the year just ended. Data: 5 Estimated total overhead costs 5 Estimated total direct labor hours Actual total direct labor hours 3 Actual costs for the year: Purchase of raw (direct) materials Direct labor cost Manufacturing overhead 11 12 13 14 Inventories: 15 16 17 Raw Materials (All Direct) Work in Process Finished Goods 18 19 Use the data to answer the following. 20 21 1. Overhead: 22 23 Actual overhead cost Predetermined overhead rate $ 27,875 34,600 $ ASS $ Beginning $ 15,000 $ $ 275,000 25,000 27,760 375,000 536,300 302,750 Ending 11,375 22,350 26,450
Expert Answer:
Answer rating: 100% (QA)
Question 1 Actual overhead cost The actual overhead cost is 302750 This is shown in the table of actual costs for the year under the heading Manufacturing overhead Question 2 Total direct labor hours ... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Formulate and state your hypothesis. (Which molecule, potassium permanganate or malachite green, do you expect to diffuse faster?) Explain in statement form.
-
On April 1, Sangvikar Company had the following balances in its inventory accounts: Materials Inventory ......$12,730 Work-in-Process Inventory .... 21,340 Finished Goods Inventory .... 8,700...
-
Read the Speech of Martin Luther King, Jr.'s "I Have a Dream" and answer the question: Kin, makes liberal use of metaphorand metaphorical imagery in his speech. (Glossary: Figures of Speech) Choose a...
-
1. Mr. Smith wishes to purchase a $10,000 sailboat upon his retirement in 3 years. He has just won the state lottery and would like to set aside enough cash in a savings account paying 3.4% interest...
-
A W 12 x 35 steel cantilever beam is subjected to an axial load P = 10 kips and a transverse load V = 15 kips. The beam has length L = 6 ft. (a) Calculate the principal normal stresses and the...
-
Jackson and Richard formed a partnership on 1 July 2025, agreeing to share profits and losses in the ratio of 2:1. Jackson contributed \($30\) 000 in cash and land with a fair value of \($180\) 000....
-
Bendt Displays designs and manufactures displays used in mobile devices. Serious flooding throughout North Carolina affected Bendt Displays facilities. Inventory was completely ruined, and the...
-
1. The above image shows a thin lens of focal length 5m. (i) What is the kind of lens shown in the above figure? (ii) If a real inverted image is to be formed by this lens at a distance of 7m from...
-
Discuss the desiderata of effective Business Communication strategy Question Elucidate on the use of technology in the improvement of the communication process. Question Critically examine the...
-
MHB Ltd. sold $6,740,000 of 12% bonds, which were dated March 1, 2023, on June 1, 2023. The bonds paid interest on September 1 and March 1 of each year. The bonds' maturity date was March 1, 2033,...
-
On January 1, The Parts Store had a $550,000 inventory at cost. During the first quarter of the year, it purchased $1,690,000 of merchandise, returned $28,100, and paid freight charges on purchased...
-
How does it contribute to the usability and functionality of a digital product?
-
Procurement plan of a barn construction: this plan should identify the types of external resources that must be secured, the process for selecting and managing these external resources and the...
-
Which methomu.C 2024 called just before an object is Garbage Collect wait() notify() donmu.divya01 finalize() 2-JAN-2024
-
The classical approach of cryptography requires only parties interested in secure communication to possess the secret key while modern cryptography requires the entire cryptosystem for communicating...
-
On August 31, 2012, the balances of the accounts appearing in the ledger of Wood Interiors Company, a furniture wholesaler, are as follows:Prepare the August 31, 2012, closing entries for Wood...
-
Classify the given group according to the fundamental theorem of finitely generated abelian groups. (Z x Z x Z)/((3, 3, 3))
-
Correct the definition of the italicized term without reference to the text, if correction is needed, so that it is in a form acceptable for publication. A normal subgroup Hof G is one satisfying hG...
-
Let F be a field and let f (x), g(x) F[x]. Show that N = {r(x)f(x) + s(x)g(x) | r(x), s(x) F[x]} is an ideal of F[x]. Show that if f(x) and g(x) have different degrees and N F[x], then f(x) and...
-
Consider a strictly risk averse agent endowed with initial wealth \(w_{0}\) and with a strictly increasing and twice differentiable utility function. Let \(r_{f}\) and \(\tilde{r}\) denote the return...
-
Consider the optimal portfolio choice problem in the presence of \(N\) risky assets with returns \(\left(\tilde{r}_{1}, \ldots, \tilde{r}_{N} ight)\) and of a risk free asset with return \(r_{f}>0\)....
-
Consider a quadratic utility function \(u(x)=x-\frac{b}{2} x^{2}\), an initial wealth \(w_{0}=100\), a risk free rate \(r_{f}=1.1\) and a risky asset with expected return...
Study smarter with the SolutionInn App