A company expected its annual overhead costs to be $692920 and machine hours to equal 101900 hours. Actual overhead was $744100, and actual machine hours totalled 97400 hours. How much is the company's predetermined overhead rate to the nearest cent, assuming overhead is applied based on machine hours? O $7.30 O $6.80 $7.64 O $7.11
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- B NOWv2 | Online teachir X + ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress... Ⓒ Thomlin Company forecasts that total factory overhead for the current year will be $17,280,000 with 180,000 total machine hours. Year to date, the actual overhead is $8,220,000, and the actual machine hours are 82,200 hours. If Thomlin Company uses a predetermined factory overhead rate based on machine hours for applying overhead, as of this point in time (year to date), the overhead is a. $328,800 underapplied Ob. $391,200 overapplied Oc. $328,800 overapplied Od. $391,200 underapplied 8:15 A 5/2/202 H U a 1 C-/1 Question 12 View Policies Current Attempt in Progress Thomsen Computer Company produces three products: Earth, Wind, and Fire. Earth requires 80 machine setups, Wind requires 60 setups, and Fire requires 180 setups. Thomsen has identified an activity cost pool with allocated overhead of $1500000 for which the cost driver is machine setups. How much overhead is assigned to each product? Fire Wind Earth $843750 $281250 $375000 $234375 $703125 $312500 $500000 $500000 $500000 $281250 $500000 $718750View Policies Current Attempt in Progress Boswell Company manufactures two products, Regular and Supreme. Boswell's overhead costs consist of machining, $1400000; and assembling, $700000. Information on the two products is: Regular Supreme Direct labor hours 10000 15000 Machine hours 10000 30000 Number of parts 90000 160000 Overhead applied to Regular using activity-based costing is O $1260000. O $1498000. O $602000. O $840000. Save for Later Attempts: 0 of 1 used Submit Answer
- Question 14 fannual overthead costs are apected to be s800,000 and direct labor costa are epected to be $1.000,000, then if the acivity base is diret labor cost O $1.25 is the predetermined overhead rate. O for every dollar of manufacturing overhead, 80 cents of direct labor will be assigned. O for every dollar of direct labor, 80 cents of manufacturing overhead will be assigned. a predetermined overhead rate cannot be determined.Current Attempt in Progress A company expected its annual overhead costs to be $781100 and machine hours to equal 107000 hours. Actual overhead was $743000, and actual machine hours totalled 97000 hours. How much overhead was over or underapplied? $34900 underapplied $73000 underapplied $77000 over-applied $37850 underapplied--/1 Question 22 View Policies Current Attempt in Progress The predetermined overhead rate for Coronado Industries is $5, comprised of a variable overhead rate of $3 and a fixed rate of $2. The amount of budgeted overhead costs at normal capacity of $150000 was divided by normal capacity of 30000 direct labor hours, to arrive at the predetermined overhead rate of $5. Actual overhead for June was $12680 variable and $8040 fixed, and standard hours allowed for the product produced in June was 4000 port hours. The total overhead variance is O $720 F. O $4040 F. O $4040 U. O $720 U. hp ins f12 f11 f10 prt sc f9 144 f8 f7 f6 f5 4+ 8 %3D C 60 To 96
- Paragraph Styles Acct 201 Practice Problems (Ch.2) Question 1: Nizwa Company estimates that annual manufacturing overhead costs will be OMR 900,000. Estimated annual operating activity bases are direct labor cost OMR 500,000, direct labor hours 50,000, and machine hours 100,000. Instructions Compute the predetermined overhead rate for each activity base.--/1 Question 23 View Policies Current Attempt in Progress upport The predetermined overhead rate for Crane Company is $5, comprised of a variable overhead rate of $3 and a fixed rate of $2. The amount of budgeted overhead costs at normal capacity of $150000 was divided by normal capacity of 30000 direct labor hours, to arrive at the predetermined overhead rate of $5. Actual overhead for June was $14208 variable and $8640 fixed, and 2400 units were produced. The direct labor standard is 2 hours per unit produced. The total overhead variance is O $1152 F. O $2880 U. O $2880 F. O $1152 U. ch hp ins pr f12 f11 f10 f9 f8 f6 f7 f5 & 80 %3D 60 9. T.YPLUS Kimmel, Accounting, 7e Help | System Announcements CALCULATOR PRINTER VERSION 1 BACK NEXT National Corporation needs to set a target price for its newly designed product M14-M16. The following data relate to this new product. RESOURCES OMEWORK --05 -07 -09 -11 a-b Per Unit Total Direct materials $21 -16 Direct labor $41 --01A -02A -03A Variable manufacturing overhead Fixed manufacturing overhead $14 $1,264,000 Variable selling and administrative expenses $ 4 Fixed selling and administrative expenses $ 1,106,000 Its by Study These costs are based on a budgeted volume of 79,000 units produced and sold each year. National uses cost-plus pricing methods to set its target selling price. The markup percentage on total unit cost is 40%. Compute the total variable cost per unit, otal fixed cost per unit, and total cost per unit for M14-M16. Variable cost per unit 2$ Fixed cost per unit Total cost per unit 24 MacBook
- Company XYZ uses machine hours to allocate its manufacturing overhead. The company estimates that total machine hours to be operated next year are 190,000 hours. The estimated variable overhead is $10 per hour and the estimated fixed overhead costs are $152,000. Calculate the predetermined overhead rate. Select one O a. $10.80 b. None of the answers given c S0.00 O d. $11.80 e s0.09O e. $2,636 Company XYZ uses machine hours to allocate its manufacturing overhead. The company estimates that total machine hours to be operated next year are 190,000 hours. The estimated variable overhead is $9 per hour and the estimated fixed overhead costs are $152,000. Calculate the predetermined overhead rate. Select one: O a. $10.80 O b. $9.80 O c. $0.10 O d. $0.80 O e. None of the answers given Finish attempt . ge OADUa Prisc F9 F6 F7 F3 F4 F2 23 24 8 6 3/ My courses / ACCT2121_yasserg_fall20 / Midterm Exam One FALL2020 / Exam 1_Part 2 16 The total prime cost of a product was OMR8,400. The variable manufacturing overhead is calculated based on the number of direct labor hours. The variable manufacturing overhead cost per hour is three times the direct labor cost per hour. The fixed manufacturing overhead was OMR5,500. Assuming that direct labor hours were 700 and that the direct labor cost was 40% of direct materials cost, how much is the total manufacturing cost? ut of Select one: O a. OMR33,600 O b. OMR39,100 O c. OMR17,100 O d. OMR13,900 O e. OMR21,100 Company XYZ produced 1,000 units of product A. At this level, the variable manufacturing costs were OMR1,200,000 and the variable selling and administrative costs were OMR160,000. Furthermore, the total fixed cost was OMR190 000. Assuming the company increased the production level to 1,101 units, what would be the increase in total on 17 er saved