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amm1812
3 years ago
11

Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. The company's

predetermined overhead rate of $2.40 per machine-hour was based on a cost formula that estimates $192,000 of total manufacturing overhead for an estimated activity level of 80,000 machine-hours.
Required:

a. Assume that during the year the company works only 78,000 machine-hours and incurs $225,000 Manufacturing Overhead. Compute the amount of overhead cost that would be applied to Work in Process for the year.
b. Compute the amount of underapplied or overapplied overhead for the year and show the balance in your Manufacturing Overhead T-account.
c. Prepare a journal entry to close the company's underapplied or overapplied overhead to Cost of Goods Sold.
Business
1 answer:
Anastaziya [24]3 years ago
8 0

Answer:

a) 187,200 applied overhead

b( Overhead T-account

       Overhead

<u>    Debit        Credit       </u>

                      187,200

   225,000

<u>                        37,800   </u>

  225,000   225,000

 Balance:  0

c)

Cost of goods sold 37,800 debit

    Factory overhead   37,800 credit

Explanation:

78,000 machine hours x 2.40 dollar per hour = 187,200 applied overhead

incurred overhead: 225,000

applied overhead     187,200

as the actual overhead is above the applied amount we underapplied we need to increase it by the difference:

225,000 - 187,200= 37,800

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Answer:

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Explanation:

The reason why answer choice "C" would be the correct answer is because American currency, USD, would get you a lot of pesos.

Lets give you the exact amount of exchange rate:

1 USD (U.S DOLLAR) = 18.98 PESO

You can see how much 1 U.S dollar could get you in the Mexican currency.

What this means is that the U.S dollar buys more pesos, in which is correct in answer choice "C" Since you could buy more pesos with the U.S dollar, you would only need to use fewer dollars because the exchange rate is so high. The U.S dollar would get you more money in Mexico. This is the reason why answer choice "C" would be correct.

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3 years ago
______________ organizations scatter it components in different locations to address local business needs.
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Decentralized organizations

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3 years ago
In the old Merck compensation system, if the salary line formula is: control point = $1544 + $4.72*Hay point. How much will a mi
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Answer:

<u>A mid-level manager will get $5251.2 salary.</u>

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Control Point = 1544 + 4.72 x Hay Point

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6 0
3 years ago
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Answer:

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8 0
3 years ago
A software development project at day 70 exhibits an actual cost of $78,000 and a scheduled cost of $84,000. The software manage
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Answer and Explanation:

Given:

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Scheduled cost (SC) = $84,000

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Cost variance = Earned value - Actual cost

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7 0
3 years ago
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