1.Consider the following selected cost data for the Pittsburgh Forging Company for 2018. Budgeted manufacturing overhead costs...
Fantastic news! We've Found the answer you've been seeking!
Question:
1.Consider the following selected cost data for the Pittsburgh Forging Company for 2018. Budgeted manufacturing overhead costs $7,500,000
Budgeted machine-hours 250,000
Actual manufacturing overhead costs $7,300,000
Actual machine-hours 245,000
The company uses normal costing. Its job-costing system has a single manufacturing overhead cost pool. Costs are allocated to jobs using a budgeted machine-hour rate.
1. Compute the budgeted manufacturing overhead rate. (1pt)
2. Compute the amount of under- or overallocation of manufacturing overhead. Prepare journal entry to dispose of this amount. (1pt)
Related Book For
Cost Accounting A Managerial Emphasis
ISBN: 978-0136126638
13th Edition
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
Posted Date: