Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

can you type it out the answer and how to do it Obj. 4 E10-14 Factory overhead rates and account balances are machine intensive, while

can you type it out the answer and how to do it
image text in transcribed
Obj. 4 E10-14 Factory overhead rates and account balances are machine intensive, while the manufacturing operations of Factory 2 are labor intense Prostheses Industries operates two factories. The manufacturing operations of Factory The company applies factory overhead to jobs on the basis of machine hours in Factory and on the basis of direct labor hours in Factory 2. Estimated factory overhead costs, direct labor hours, and machine hours are as follows: The ove EXCEL ONLINE room hour b. $9.50 per direct labor hour hours per Factory 2 Factory 1 $375,200 $2,660,000 280,000 Estimated factory overhead cost for fiscal year beginning August 1 Estimated direct labor hours for year Estimated machine hours for year Actual factory overhead costs for August Actual direct labor hours for August Actual machine hours for August two week a. Deter b. Shirle would c. Durir for M 22,400 $ 28,700 $ 230,000 24,000 1,800 E10-12 The fo for the 3. Determine the factory overhead rate for Factory 1. b. Determine the factory overhead rate for Factory 2. c. Determine the factory overhead applied to production in each factory for August d. Determine the balances of the factory overhead accounts for each factory as of August 31 and indicate whether the amounts represent overapplied or underapplied factory overhead. e. Explain why Factory 1 uses machine hours to allocate factory overhead while Factory2 uses direct labor hours

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Cases An Interactive Learning Approach

Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt

5th International Edition

0132815591, 9780132815598

More Books

Students also viewed these Accounting questions

Question

Describe the major steps in the performance-management cycle.

Answered: 1 week ago

Question

5. What are the other economic side effects of accidents?

Answered: 1 week ago