The following information pertains to Trenton Glass Works for the year just ended. Budgeted direct-labor cost: 70,000
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The following information pertains to Trenton Glass Works for the year just ended. |
Budgeted direct-labor cost: 70,000 hours (practical capacity) at $16 per hour | |
Actual direct-labor cost: 80,000 hours at $17.50 per hour | |
Budgeted manufacturing overhead: $997,500 | |
Actual selling and administrative expenses: 431,000 | |
Actual manufacturing overhead: | |
Depreciation | $233,000 |
Property taxes | 21,000 |
Indirect labor | 80,000 |
Supervisory salaries | 200,000 |
Utilities | 58,000 |
Insurance | 32,000 |
Rental of space | 301,000 |
Indirect material (see data below) | 77,000 |
Indirect material: | |
Beginning inventory, January 1 | 47,000 |
Purchases during the year | 93,000 |
Ending inventory, December 31 | 63,000 |
References
Section BreakExercise 3-34 Overapplied or Underapplied Overhead (LO 4, 5)
1.value:
0.83 points
Required information
Exercise 3-34 Part 1
Required: | |
1. | Compute the firm’s predetermined overhead rate, which is based on direct-labor hours. (Round your answer to 2 decimal places. Omit the “$” sign in your response.) |
Predetermined overhead rate | $ per hour |
References
WorksheetExercise 3-34 Part 1
2. value:
0.83 points
Required information
Exercise 3-34 Part 2
2. | Calculate the overapplied or underapplied overhead for the year. (Omit the “$” sign in your response.) |
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