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chubhunter [2.5K]
2 years ago
13

Agassi Company uses a job order cost system in each of its three manufacturing departments. Manufacturing overhead is applied to

jobs on the basis of direct labor cost in Department D, direct labor hours in Department E, and machine hours in Department K. In establishing the predetermined overhead rates for 2017, the following estimates were made for the year. Department D E K
Manufacturing overhead $1,197,000 $1,500,000 $720,000
Direct labor costs $1,496,250 $1,250,000 $450,000
Direct labor hours 100,000 125,000 40,000
Machine hours 400,000 500,000 120,000
During January, the job cost sheets showed the following costs and production data.
Department D E K
Direct materials used $140,000 $126,000 $78,000
Direct labor costs $120,000 $110,000 $37,500
Manufacturing overhead incurred $99,000 $124,000 $79,000
Direct labor hours 8,000 11,000 3,500
Machine hours 34,000 45,000 10,450
Compute the predetermined overhead rate for each department. (Round answers to 2 decimal places, e.g. 10.25.)
Business
1 answer:
Juliette [100K]2 years ago
6 0

Answer:

Results are below.

Explanation:

<u>To calculate the predetermined overhead rate, we need to use the following formula on each department:</u>

<u></u>

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

<u>Department D:</u>

Predetermined manufacturing overhead rate= 1,197,000 / 1,496,250

Predetermined manufacturing overhead rate= $0.8 per direct labor dollar

<u>Department E:</u>

Predetermined manufacturing overhead rate= 1,500,000 / 125,000

Predetermined manufacturing overhead rate= $12 per direct labor hour

<u>Department K:</u>

Predetermined manufacturing overhead rate= 720,000 / 120,000

Predetermined manufacturing overhead rate= $6 per machine hour

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Answer:

a) Manufacturing overhead applied to Work in Process for the month was $70,000

Explanation:

Data provided in the question

The total of the Manufacturing Overhead account = $58,000 i.e incurred

And, the total of credit to the account = $70,000 i.e applied amount

So according to the given data, the manufacturing overhead should be applied to the work in process with the total credit amount i.e $70,000

Hence, the first option is correct

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As per the given scenario, the interpersonal skill that should be used is negotiating effectively.

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2 years ago
Which agency is responsible for approving states' special education plans and releasing idea funds accordingly?
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The Office of Special Education and Rehabilitative Services is the agency responsible for approving a state's special education plan and releasing the IDEA funds accordingly.  These offices also help schools understand the services and responsibilities. These services help with those who have a learning disability or need specialized attention/help in school. 
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3 years ago
Champagne of the​ South, Inc., a manufacturer of bottled sweet​ tea, had the following beginning and ending inventories for the
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Answer:

total manufacturing cost added for the period 105,169

Cost of goods manufactured 106,064

Cost of goods sold 110,564

Explanation:

First, we need to know the amount of direct materials used in production.

beginning raw materials 10,000

purchase                         27,000

ending                               (1,702)

indirect materials          <u>    (2,129)  </u>

direct materials                33,169

now, we calculate the cost added during the period

direct materials    33,169

direct labors         30,000

overhead              42,000

total cost added 105,169

next step, we calculate the cost of goods manufactured from the WIP

WIP                     17,895

added               105,169

WIP ending    <u>   (17,000)  </u>

COGM             106,064

And last, the cost of goods sold

beginning finished goods  21,000

COGM                                106,064

ending finished goods    <u>  (16,500)  </u>

          COGS                      110,564

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