Bain Company has the following data for October: Direct materials cost $35,000 Direct labor hours 7,000...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Bain Company has the following data for October: Direct materials cost $35,000 Direct labor hours 7,000 Direct labor cost $48,000 Actual manufacturing overhead $100,000 Machine hours worked 5,000 Given this information, if manufacturing overhead is allocated at the rate of $15.00 per direct labor hour, overhead for October is: O $4,000 overallocated O $4,000 underallocated $5,000 overallocated $5,000 underallocated Kramer, Inc. utilizes Machine hours to allocate overhead costs to their products. Calculate the pre-determined overhead rate based on the following information. Actual Overhead $52,000 Estimated Overhead $55,000 Estimated Direct Labor Hours 11,000 Estimated Machine Hours 5,000 O $4.73 per hour O $10.40 per hour O $5 per hour O $11 per hour Timberline Company uses FIFO process costing. Material is added at the beginning of the process while conversion is added evenly throughout the process. The following information is available for the month just ended: 2,000 units, 50% Beginning work-in-process complete Started into process 34,000 units Units Completed and 32,000 units transferred out 4,000 units, 30% Ending work-in-process complete How many equivalent units of material will be used in calculating cost per equivalent units for the current month costs? 32,000 32,200 34,000 36,000 Timberline Company uses FIFO process costing. Material is added at the beginning of the process while conversion is added evenly throughout the process. The following information is available for the month just ended: 2,000 units, 50% Beginning work-in-process complete Started into process 34,000 units Units Completed and transferred out 32,000 units 4,000 units, 30% Ending work-in-process complete How many equivalent units of conversion will be used in calculating cost per equivalent units for the current month costs? O 32,000 O 36,000 O 32,200 34,000 Bain Company has the following data for October: Direct materials cost $35,000 Direct labor hours 7,000 Direct labor cost $48,000 Actual manufacturing overhead $100,000 Machine hours worked 5,000 Given this information, if manufacturing overhead is allocated at the rate of $15.00 per direct labor hour, overhead for October is: O $4,000 overallocated O $4,000 underallocated $5,000 overallocated $5,000 underallocated Kramer, Inc. utilizes Machine hours to allocate overhead costs to their products. Calculate the pre-determined overhead rate based on the following information. Actual Overhead $52,000 Estimated Overhead $55,000 Estimated Direct Labor Hours 11,000 Estimated Machine Hours 5,000 O $4.73 per hour O $10.40 per hour O $5 per hour O $11 per hour Timberline Company uses FIFO process costing. Material is added at the beginning of the process while conversion is added evenly throughout the process. The following information is available for the month just ended: 2,000 units, 50% Beginning work-in-process complete Started into process 34,000 units Units Completed and 32,000 units transferred out 4,000 units, 30% Ending work-in-process complete How many equivalent units of material will be used in calculating cost per equivalent units for the current month costs? 32,000 32,200 34,000 36,000 Timberline Company uses FIFO process costing. Material is added at the beginning of the process while conversion is added evenly throughout the process. The following information is available for the month just ended: 2,000 units, 50% Beginning work-in-process complete Started into process 34,000 units Units Completed and transferred out 32,000 units 4,000 units, 30% Ending work-in-process complete How many equivalent units of conversion will be used in calculating cost per equivalent units for the current month costs? O 32,000 O 36,000 O 32,200 34,000
Expert Answer:
Answer rating: 100% (QA)
1 Correct answer 5000 Overallocated Detail Working for reference Allocated Overhead ... View the full answer
Related Book For
Managing Supply Chain and Operations An Integrative Approach
ISBN: 978-0132832403
1st edition
Authors: Thomas Foster, Scott E. Sampson, Cynthia Wallin, Scott W Webb
Posted Date:
Students also viewed these accounting questions
-
The accountant for Porile Company prepared the following data for sales and losses from uncollectible accounts: Required: 1. Calculate the average percentage of losses from uncollectible accounts for...
-
The Cakebread Candy Company presents the following data for October: During the month, the firm purchased 49,000 pounds of materials for $127,500. Wages earned were $214,000. Compute the labor and...
-
The Washington Company has the following actual (at ) and forecast (F t ) values for its primary product. Compute the mean absolute deviation (MAD), the mean squared error (MSE), the bias, and the...
-
Anon Amus Inc. operates a woodworking shop that makes tables and chairs. He has 25 employees working 40 hours per week and he has 750 hours per week available in machine time. Ralph knows that he...
-
Tiffany Lyons was just hired as the assistant treasurer of Key West Stores. The company is a specialty chain store with nine retail stores concentrated in one metropolitan area. Among other things,...
-
List and explain the different levels into which Six Sigma projects can be categorized, based on their impact on results.
-
Using an elementary mechanics of materials approach, find the micromechanics equation for predicting the minor Poisson's ratio, \(v_{21}\), for a unidirectional fiber composite in terms of the...
-
Midland National Bank selected a sample of 40 student checking accounts. Below are their end-of-the-month balances. a. Tally the data into a frequency distribution using $100 as a class interval and...
-
INDIVIDUAL DELIVERABLE A . While making your group decision, observe the members of the group and pay special attention to the group dynamics, conflicts that may or may not arise during the decision...
-
As customers shifted to shopping online, Best Buy's 1,100 giant stores, which enabled the company to obtain its position as the largest retailer of electronics, began to reduce its profitability and...
-
Start the Server Manager, Tools, DNS On the Windows Server 2016 VM, On the right panel, double click on csis.com What is the IP# of your DNS Server _______________ 192.168.3.72 In VirtualBox, make a...
-
What do you believe would be the best way to get a finance-oriented CEO to support marketing and its efforts to get silos to work together on offerings, brands, and mar keting programmes?
-
What skills, resources, or competencies did HTC bring to the branded mobile phone market? If a board member, would you have supported IITCs initial move to sell branded phones? Why? Ww hy not?
-
How would you measure those benefits at a tactical and strategic level?
-
How would you explain the popularity of the Tata Nano? Why have other car companies not taken advantage of this opportunity?
-
Identify and discuss three ratios that are likely to be affected by a business overtrading.
-
1. Is the following grammar in Chomsky Normal Form (CNF)? Justify your answer S AB A 04|0 B1B|1 2. Consider the following grammar S AB CD A BC a B ACIC CAB CD D AC d (a) Identify variables that...
-
Linda Lopez opened a beauty studio, Lindas Salon, on January 2, 2011. The salon also sells beauty supplies. In January 2012, Lopez realized she had never filed any tax reports for her business and...
-
What is pull production? How does it help to accomplish the objectives of lean?
-
A company has experienced the following demand for a product over the most recent nine months. Use the information to produce a two-period simple moving average and a forecast for period 10. Period...
-
Four samples (k = 4) are taken from a process with each sample consisting of six observations (n = 6). The length in centimeters of each sampled item was measured, with the following results: Develop...
-
Who is currently in your own network that you could use for prospecting? How might you add to your network?
-
Pick any three of the sources of prospects discussed in the chapter and pick a product or service you like. Develop several ideas for how you would use each source to locate leads for the product or...
-
Why do you think a salesperson might experience call reluctance? How can it be overcome?
Study smarter with the SolutionInn App