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Bumek [7]
3 years ago
14

Osborn Manufacturing uses a predetermined overhead rate of $18.90 per direct labor-hour. This predetermined rate was based on a

cost formula that estimates $240,030 of total manufacturing overhead for an estimated activity level of 12,700 direct labor-hours.The company incurred actual total manufacturing overhead costs of $237,000 and 12,200 total direct labor-hours during the period.
Determine the amount of underapplied manufacturing overhead for the period.
Business
1 answer:
velikii [3]3 years ago
3 0

Answer:

$6,420 under applied

Explanation:

The computation of the amount of under-applied manufacturing overhead for the period is shown below:

= Actual manufacturing overhead - applied overhead

where,

Actual manufacturing overhead = $237,000

And, the applied overhead is

= 12,200 direct labor hours × $18.90

= $230,580

So, the amount is

= $237,000 - $120,580

= $6,420 under applied

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Option (d) purchase-money mortgage

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This type of condition arises usually when the buyer is not able to get the loan from the traditional channels like the bank due to various reasons.

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The answer is False.

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the audit working paper that reflects the major components of an amount reported in the financial statement is the
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The audit working paper that reflects the major components of an amount reported in the financial statement is the Lead Schedule.

<h3>What is the Lead Schedule?</h3>
  • A working document known as a lead schedule lists the specific general ledger accounts that make up a line item in the financial statements.
  • The sum for the related line item in a client's financial statements should match the number on the lead schedule.
  • The general ledger (GL) accounts that are present in each financial statement line item and note disclosure are listed in a lead schedule.
  • Each line item or group of related line items on the financial statement would typically have its lead schedule. The final balance in the financial statements and the sum on the lead schedule should match.
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To learn more about the Audit working paper refer to:

brainly.com/question/13812517

#SPJ4

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