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1) Smith Office Equipment Company's budgeted manufacturing overhead is $4,200,000. Overhead is allocated on the basis of direct labor hours. The budgeted direct labor hours
1) Smith Office Equipment Company's budgeted manufacturing overhead is $4,200,000. Overhead is allocated on the basis of direct labor hours. The budgeted direct labor hours for the period are 40,000. What is the manufacturing overhead rate? 2) X-Industries manufactures 3-D printers. For each unit, $3,100 of direct material is used and there is $2,500 of direct manufacturing labor at $25 per hour. Manufacturing overhead is applied at $30 per direct manufacturing labor hour. Calculate the profit earned on 45 units if each unit sells for $10,000. 3) For 2020, Franklin Manufacturing uses machine-hours as the only overhead cost-allocation base. The estimated manufacturing overhead costs are $210,000 and estimated machine hours are 20,000. The actual manufacturing overhead costs are $330,000 and actual machine hours are 30,000. What is the dollar difference between the budgeted and the actual manufacturing overhead using job costing? (Round interim and the final answer to the nearest cent.) 4) Sky High Company has two departments, X and Y. The following estimates are for the coming year: X Direct manufacturing labor-hours Machine-hours Manufacturing overhead 50,000 70,000 $350,000 Company Direct materials Direct labor Y Compute the single indirect-cost rate based on direct manufacturing labor-hours for the entire plant. 5) Lancelot Manufacturing is a small textile manufacturer using machine-hours as the single indirect-cost rate to allocate manufacturing overhead costs to the various jobs contracted during the year. The following estimates are provided for the coming year for the company and for the Case High School band jacket job. $53,000 $15,000 Manufacturing overhead costs $40,000 Machine-hours 70,000 50,000 $490,000 Case High School Job $2,100 $500 80,000 mh 800 mh For Lancelot Manufacturing, compute the annual manufacturing overhead cost-allocation rate.
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