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3 years ago

A computer server system, which had cost $210,000 and had accumulated

2 answers:

8 0

The cost of the old computer server system was $210000
The depreciation is $147000
The book value of the old system is
$210000 - $147000 = $63000
With the additional cash
$63000 + $180000 = $243000

The new system costs $235000

There is a difference of $10000.

Serggg [28]3 years ago

5 0

The journal entries for the given above would include the following:
(1) Initial cost: $210,000
(2) depreciation: $147,000
(3) final value of old server: $63,000
(4) cash on hand: $180,000

In fact, the price of the depreciated old system is equal to $63,000 and that the money out of $180,000 will actually mean that the new system was bought for $243,000. This is slightly higher compared to the true price of the new system.

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Answer: Lorein company's actual manufacturing overhead is greater than applied manufacturing overhead, so overhead has been under-applied to the extent of $100,000.

We have:

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<u>Calculation of Estimated (Predetermined) Overhead rate:</u>

$Estimated overhead rate =\frac{Estimated overhead}{Estimated labor hours}$

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<u>Calculation of Applied manufacturing overhead:</u>

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Under or over applied overhead = Actual Overhead - Applied Overhead

If actual overheads are less than applied overheads, then overheads have been over-applied.

If actual overheads are more than applied overheads, then overheads have been under-applied.

In this case,

$Actual overhead - Applied overhead = 650000 - 550000 = $100000$

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