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xeze [42]
3 years ago
15

Mango Company applies overhead based on direct labor costs. For the current year, Mango Company estimated total overhead costs t

o be $360,000, and direct labor costs to be $180,000. Actual overhead costs for the year totaled $387,000, and actual direct labor costs totaled $203,000. At year-end, the balance in the Factory Overhead account is a:
Business
1 answer:
erastovalidia [21]3 years ago
8 0

Answer:

Balance for the Factory Overhead account: 19,000 credit

Explanation:

We will first, calculate the overhead rate based on the predetermination overhead rate:

\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate

The total manufacturing cost will be distributed over the cost driver. In this case, labor cost:

360,000/180,000 = 2 overhead rate

Then, we calculate the applied overhead 203,000 x 2 = 406,000

Now, the balance for factory overhead account:

Actual overhead: 387,000 debit

        payable, accumulated depreicaiton and other 387,000 credit

WIP 406,000 debit

Applied Overhead 406,000 credit

Balance:

406,000 - 387,000 = 19,000 credit

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A woman bought a home. The asking price for the home was $585,000; the woman offered $565,000 and the seller accepted. The appra
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Answer:

The multiple choices are as follows:

A: 82%

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The appraised value of the property is $560,000

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The property loan to value ratio is 84%

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3 years ago
James is in a class at high school that his regular teachers teach. When he graduates, he plans on enrolling in the local commun
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Answer:

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Explanation:

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2 years ago
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Answer:

B) Income from subsidiary is recognized from date of acquisition to year-end.

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