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cestrela7 [59]
3 years ago
14

Sykora, Inc., which uses a predetermined overhead rate based on direct labor hours, estimated total overhead for the year to be

$12,000,000 and total direct labor hours to be 320,000 hours. Calculate Sykora’s predetermined overhead rate. In April, Sykora incurred actual overhead costs of $1,050,000 and used 30,000 hours. How much was Sykora’s over- or under-applied overhead for the month of April? Enter your answer in the following space. Show all calculations.
Business
1 answer:
bekas [8.4K]3 years ago
6 0

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Sykora, Inc., which uses a predetermined overhead rate based on direct labor hours, estimated total overhead for the year to be $12,000,000 and total direct labor hours to be 320,000 hours.

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

Estimated manufacturing overhead rate= 12,000,000/320,000= $37.5 per direct labor hour

In April, Sykora incurred actual overhead costs of $1,050,000 and used 30,000 hours.

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

Allocated MOH= 37.5*30,000= $1,125,000

Over/under allocation= real MOH - allocated MOH

Over/under allocation= 1,050,000 - 1,125,000= 75,000 overallocated

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Alpha company anticipated unit sales of widgets are January, 5,000; February, 4,000; and March 8,000. Alpha consistently maintai
alexdok [17]

Answer:

1. 4,200 units

2.7,200 units

Explanation:

<u>Prepare the Production Budget for January and February</u>

                                                               January                   February

Budgeted Sales                                       5,000                       4,000

<em>Add </em>Budgeted Closing Stock                 3,200                       6,400

Total Production Needed                       8,200                      10,400

<em>Less</em> Budgeted Opening Stock             (4,000)                     (3,200)

Budgeted Production                             4,200                        7,200

Budgeted Opening Stock for January comes from 80% of closing inventory from December !

5 0
3 years ago
Nguyen, Inc. has received a bid for 15 comma 000 units. The costing estimates show that the average cost per unit for this bid w
8_murik_8 [283]

Answer:

B. $ 12 comma 600 comma 000

Explanation:

15,000 units x $700 cost per unit = 10,500,000 total cost

markup policy for the firm: 20% of total cost

the sales price will be the total cost for the order plus a 20% of that cost as a gross profit margin.

sales price = cost x (1 + 20%)

sales price = total cost x 1.20

sales price = 10,500,000 x 1.2 = 12,600,000

4 0
3 years ago
Custom Engines Company has the following estimated costs for the upcoming year: Direct labor costs $62,800 Direct materials used
jenyasd209 [6]

Answer:

Predetermined manufacturing overhead rate= $33.1 per direct labor hour

Explanation:

Giving the following information:

Salary of factory supervisor $37,800

Heating and lighting costs for factory $22,900

Depreciation on factory equipment $5500

The company estimates that 2000 direct labor hours will be worked in the upcoming year.

<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>

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

Predetermined manufacturing overhead rate= (37,800 + 22,900 + 5,500) / 2,000

Predetermined manufacturing overhead rate= $33.1 per direct labor hour

8 0
3 years ago
What could happen if you do not keep track of your checks you write?
velikii [3]
Nothing really, you just might have a better idea of your budget if you do.
3 0
3 years ago
Glenn is purchasing a home for $400,000. the property appraised at $415,000 and glenn is financing $300,000. what's the loan-to-
bazaltina [42]

Answer:

75%

<h3>Explanation:</h3>
  • Lenders use the lesser of the sales price or appraised value to calculate the loan-to-value ratio (LTV).
  • This results in LTV of 75% ($300,000/$400,000).
<h3>How do you calculate the loan-to-value ratio?</h3>
  • To figure out your LTV ratio, divide your current loan balance (you can find this number on your monthly statement or online account) by your home's appraised value.
  • Multiply by 100 to convert this number to a percentage. Caroline's loan-to-value ratio is 35%.

To learn more about it, refer

to brainly.com/question/25689052

#SPJ4

8 0
2 years ago
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