The chief cost accountant for Kenner Beverage Co. estimated that total factory overhead cost for the Blending
Fantastic news! We've Found the answer you've been seeking!
Question:
The chief cost accountant for Kenner Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning May 1 would be $130,000 and total direct labor costs would be $100,000. During May, the actual direct labor cost totaled $12,500 and factory overhead cost incurred totaled $16,750.
Required:
A. | What is the predetermined factory overhead rate based on direct labor cost? |
B. | On May 31, journalize the entry to apply factory overhead to production. Refer to the Chart of Accounts for exact wording of account titles. |
C. | What is the May 31 balance of the account Factory Overhead-Blending Department? |
D. | Does the balance in part C represent over- or underapplied factory overhead? |
Related Book For
Accounting
ISBN: 9781337902687
28th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
Posted Date: