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valkas [14]
3 years ago
7

Bonita Industries applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the und

er- or overapplication of overhead for the period: Estimated annual overhead cost $1700000 Actual annual overhead cost $1675000 Estimated machine hours 500000 Actual machine hours 490000 $1675000 applied and neither under-nor overapplied $1666000 applied and $9000 overapplied $1700000 applied and $9000 overapplied $1666000 applied and $9000 underapplied
Business
1 answer:
kotegsom [21]3 years ago
7 0

Answer:

$1,666,000 applied and $9,000 under-applied.

Explanation:

Given that,

Estimated annual overhead cost = $1,700,000

Actual annual overhead cost = $1,675,000

Estimated machine hours = 500,000

Actual machine hours = 490,000

Predetermined Overhead Rate:

= Estimated annual overhead cost ÷ Estimated machine hours

= $1,700,000 ÷ 500,000

= $3.40 per machine hour

Overhead Applied:

= Actual machine hours × Predetermined Overhead Rate

= 490,000 × $3.40

= $1,666,000

Under-applied Overhead:

= Actual annual overhead cost - Overhead Applied

= $1,675,000 - $1,666,000

= $9,000

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Answer:

Instructions are below.

Explanation:

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Units= 120,000

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B) Units= 75,000

<u>The fixed costs remain constant no matter how many units are made (between relevant ranges).</u>

Total fixed costs= $300,000

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D) Units= 180,000

Total fixed costs= 300,000

Total variable costs= 1.25*180,0000= 225,000

Total costs= $525,000

6 0
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Answer:

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5 0
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4 0
1 year ago
On December 29, 2019, Patel Products, Inc., sells a delivery van that cost $20,000. After recording the entry to bring the accum
Nataliya [291]

Answer:

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Debit Other income/disposal account (p/l)   $20,000

Credit Asset account     $20,000

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On disposal, the carrying amount of the asset is derecognized by  

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