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lutik1710 [3]
3 years ago
6

Dejarnette Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hour

s. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours 80,000 Total fixed manufacturing overhead cost $416,000 Variable manufacturing overhead per machine-hour $ 3.10 The estimated total manufacturing overhead is closest to:
Business
1 answer:
seropon [69]3 years ago
8 0

Answer:

Predetermined manufacturing overhead rate= $8.3 per machine hour

Explanation:

Giving the following information:

Total machine-hours 80,000

Total fixed manufacturing overhead cost $416,000

Variable manufacturing overhead per machine-hour $ 3.10

<u>First, we need to calculate the predetermined overhead rate:</u>

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

Predetermined manufacturing overhead rate= (416,000/80,000) + 3.1

Predetermined manufacturing overhead rate= $8.3 per machine hour

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The Chewbacca Starship Company had the following transactions during the month of December:
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Answer:

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T-accounts:

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Date   Account Titles                 Debit        Credit

Dec. 1 Beginning balance      $73,500

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Dec. 31 Accounts receivable 265,000

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Accounts receivable

Date   Account Titles           Debit        Credit

Dec. 1 Beginning balance   $60,000

Dec. 31 Sales revenue         154,000

Dec. 31 Cash                                     $265,000

Accounts payable

Date   Account Titles           Debit        Credit

Dec. 1 Beginning balance                  $39,000

Dec. 31 Inventory                               230,000

Dec. 31 Cash                    $210,000

Inventory

Date     Account Titles           Debit        Credit

Dec. 31 Accounts payable   $230,000

Sales revenue

Date     Account Titles           Debit        Credit

Dec. 31 Accounts receivable              $154,000

Salaries Expense

Date     Account Titles           Debit        Credit

Dec. 31 Cash                       $57,000

Explanation:

a) Data and Analysis:

a. Inventory $230,000 Accounts payable $230,000

b. Salaries expense $57,000 Cash $57,000

c. Accounts receivable $154,000 Sales revenue $154,000

d. Cash $365,000 Accounts receivable $265,000

e. Accounts payable $210,000 Cash $210,000

Opening balances:

Cash $73,500

Accounts receivable $60,000

Accounts payable $39,000

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