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1- Martin's Metalworks is in the business of making machine parts for lawnmowers. The have started work on Job #333 during 2022. They have estimated
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Martin's Metalworks is in the business of making machine parts for lawnmowers. The have started work on Job #333 during 2022. They have estimated that this job will take 2 hours of labor @$20 per hour and material costs of $70. During the month of September, Martin's Metalworks incurred the following: Direct Material Costs $50 Labor Administrative 3150 Utilities $300 Depreciation Expense $250 Martin's Metalworks estimates that their overhead for 2022 will be 550.000. Martin's employees will spend 5,000 labor hours. What is the overhead incurred during the month? Dream Custom uses machine hours to apply overhead on their production. During 2022, Dream Custom had the following results: Budget Actual Overhead $350000 $352000 Machine Hours $ 50,000 $49000 Direct Materials 5210.000 Direct Labor $350,000 Calculate the predetermined overhead rate (per machine hour)? D How much overhead was applied during 2022? Type in your response with no commas D Was overhead overapplied or underapplied during 2022? Type "1" for overapplied or "0" for underapplied D What was the amount that was overapplied or underapplied in 2022? Type your response with no commas D The Wax Factory makes specialty candles. They received a large order from a banquet hall to supply their tables with centerpieces. During the month of May, they started 100,000 candles. At the end of May, the ending inventory showed 20,000 candles with 100% material and 75% conversion costs included. For the batch of candles, the equivalent units for materials was $6 per candle and $8 per candle for the conversion costs. Assuming the Wax Factory uses the weighted-average inventory method, how many units were completed and transferred out? Type your response with no commas Assuming the Wax Factory uses the weighted-average inventory method, what is the cost per unit of the units completed and transferred out? Assuming the Wax Factory uses the weighted-average inventory method, what is the value of the inventory transferred? Type your response with no commasOn July 1, Custom Bundles had 8,329 units in Work in Process. During the month of July. they put 23,142 units into production. They ended the month with 9,321 units in ending inventory that were 100% complete with respect to materials and 6T% complete with respect to conversion costs. Calculate the number of units transferred out during the period. Beginning inventory: Number of units started: |:| Total units to account for. Ending Inventory: |:| Units transferred outStep by Step Solution
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