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Ludmilka [50]
3 years ago
10

Meenach Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-ho

urs. The company based its predetermined overhead rate for the current year on 66,000 direct labor-hours, total fixed manufacturing overhead cost of $99,000, and a variable manufacturing overhead rate of $4.50 per direct labor-hour. Recently Job X387 was completed and required 220 direct labor-hours.
Required:
Calculate the amount of overhead applied to Job X387. (Do not round intermediate calculations.)
Business
1 answer:
NNADVOKAT [17]3 years ago
4 0

Answer:

Allocated MOH= $1,320

Explanation:

Giving the following information:

Estimated fixed overhead= $99,000

Estimated variable overhead= $4.5 per unit

Estimated direct labor hour= 66,000

Recently Job X387 was completed and required 220 direct labor-hours.

<u>First, we need to calculate the predetermined overhead rate:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (99,000/66,000) + 4.5

Predetermined manufacturing overhead rate= $6 per direct labor hour

<u>Now, we can allocate overhead:</u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 6*220

Allocated MOH= $1,320

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Answer:

Depreciation expense for 2018 is $6,300.

Depreciation expense for 2019 is $7,700.

Explanation:

The unit-of-production method also known as units-of-activity method is used when the asset value closely relates to the units of output it is able to produce. It is expressed with the formula below:

(Original Cost - Salvage value) / Estimated production capacity x Units/year

At Year 2018, depreciation expense (DE) is: ($45,000 - $10,000) / 100,000 miles x  18,000 miles = $6,300/year

At Year 2019, depreciation expense (DE) is: ($45,000 - $10,000) / 100,000 miles x  22,000 miles = $7,700/year

Accumulated depreciation for 2 years is $6,300 + $7,700 = $14,000.

Note that this depreciation method results in higher depreciation charge when the asset is heavily used, at this time, it was in Year 2019.

The NBV under this method is: $45,000 - $14,000 = $31,000.

7 0
3 years ago
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Answer:

1. P = $156,560; Q = $203,440

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Answer:

a. $34,900

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