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Posted on Sep 02, 2024

Estimated Machine hours per month: 2,500 Machine Hours Estimated Variable Cost Per Machine Hour: $6.50/MH Factory Rent $10,000 Factory Utilities $6,500 Supervision and Support Service

Estimated Machine hours per month: 2,500 Machine Hours Estimated Variable Cost Per Machine Hour: $6.50/MH Factory Rent $10,000 Factory Utilities $6,500 Supervision and Support Service Salaries $48,000 Equipment Depreciation $13,000 Calculate the Predetermined Overhead rate. This rate will then transfer to the next page, the job cost sheets. The next Tab has three Job Cost sheets with job numbers along with a description of the amount to be produced for three different products. I have left some data in cells to help you. Note, all the cells are formatted so you only have to put in the number. The third tab is the actual overhead costs. As the information is available per week, post the overhead expenditures to the appropriate cells. For example, rent is only paid once in week 1. There will be supervision and support service salaries each week. There are four weeks of data. Update the data, where appropriate, to either the Job Cost Sheets or the third tab, the Actual Overhead Costs. All data is by week. image text in transcribed

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AutoSave Off Individual Learning Project - Chapter 2 - Protected View Data File Home Insert Draw Page Layout Formulas Review View Help PROTECTED VIEW Be careful--files from the Internet can contain viruses. Unless you need to edit it's safer to stay in 321 B Estimated Total Costs $ 10,000.00 2 Overhead Budget 3 4 Estimated Machine hours per month: 5 Estimated Variable Cost Per Machine Hour 6 7 8 9 Estimated Fixed Overhead Costs 10 Factory Rent 11 Factory Utilities 12 Supervision and Support Service Salaries 13 Equipment Depreciation 14 Estimated Total Fixed Overhead Costs 15 16 Estimated Variable Overhead costs: 17 Estimated Total Indirect Material Cost 18 Estimated Total Overhead cost (Fixed and Variable 19 20 21 Predetermined Overhead Rate: 22 23 24 25 26 27 s 10,000.00 S $ 10,000.00 28 29 30 31 32 33 34 Overhead Budget Job Cost Sheets Actual Overhead Costs Questions to Answer Furniture Job Cost Sheet 3 4 Job Number 211-21 5 Description 1000 chairs 6 7 Direct materials Direct labor Manufacturing Overhead Machine 8 Week Amount Weekabor Hout Amount Week Hours Rate Amount 9 Week 1 000 3 88 898 XXX NON 11 12 13 14 15 16 Cost Summary Required Hours 17 Direct materials Total Direct Labor 0 hours 19 Direct labor Total Machine Hox O MH 19 Applied Manufacturing Over 20 Total Job Cost 21 22 23 Buckeye Office Furniture Job Cost Sheet 26 Job Number 27 Description 211-22 500 desks Direct materials Direct labor Manufacturing Overhead Machine 30 Week Amount Week #abor Hour Amount Week 1 Hours Rate Amount 31 Weekho SL SOMHET 32 34 SOUMIS Cost Summary 39 Direct materials 40 Direct labor 41 Applied Manufacturing Over 42 Total Job Cost 43 Required Hours Total Direct Lao Total Machine How O MH Buckeye Office Furniture Job Cost Sheet 46 211-23 48 Job Number: 49 Description 2.000 end tables Direct materials Direct Labor Manufacturing Overhead 52 Week Armour Week #abor How Around Week Plate 53 50 1 58 59 60 Cost Summary 61 Direct materials 52 Directa Applied Marwacturing Over 64 Total Job Cost Required Hours Total Director hour TO Machane 1490 M 66 1 Buckeye Office Furniture Actual Overhead Costs 2 Week 1 Overhead costs $ 10,000.00 Week 2 Overhead Costs Week 3 Overhead Costs Week 4 Overhead costs Total Overehead Costs $ 10,000.00 6,650.00 12,500.00 6,650.00 12,500.00 $ 22,500.00 $ $ 6,650.00 $ 29,150.00 3 Fixed Overhead Costs 4 Factory Rent 5 Factory Utilities 6 Supervision and Support Service Salaries 7 Equipment Depreciation 8 Total Fixed Overhead Costs 9 10 Variable Overhead costs: 11 Total Indirect Material Costs 12 13 Total Overhead Costs 14 15 16 17 $ $ 22,500.00 $ $ 6,650.00 $ 29,150.00 18 19 20 21 22 23 24 25 26 27 28 29 30 Overhead Budget Job Cost Sheets Actual Overhead Costs Questions to Answer Ready 2 Answer 3 4 5 Question Q1 What is the cost per chair? Q2 What is the cost per desk? Q3 What is the cost per end table? Q4 What is the total estimated overhead cost? Q5 What is the total applied overhead cost? Q6 What is the total actual overhead cost? Q7 What is the total direct material cost? Q8 What is the total direct labor cost? 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Overhead Budget Job Cost Sheets Actual Overhead Costs Questions Answer Ready AutoSave Off Individual Learning Project - Chapter 2 - Protected View Data File Home Insert Draw Page Layout Formulas Review View Help PROTECTED VIEW Be careful--files from the Internet can contain viruses. Unless you need to edit it's safer to stay in 321 B Estimated Total Costs $ 10,000.00 2 Overhead Budget 3 4 Estimated Machine hours per month: 5 Estimated Variable Cost Per Machine Hour 6 7 8 9 Estimated Fixed Overhead Costs 10 Factory Rent 11 Factory Utilities 12 Supervision and Support Service Salaries 13 Equipment Depreciation 14 Estimated Total Fixed Overhead Costs 15 16 Estimated Variable Overhead costs: 17 Estimated Total Indirect Material Cost 18 Estimated Total Overhead cost (Fixed and Variable 19 20 21 Predetermined Overhead Rate: 22 23 24 25 26 27 s 10,000.00 S $ 10,000.00 28 29 30 31 32 33 34 Overhead Budget Job Cost Sheets Actual Overhead Costs Questions to Answer Furniture Job Cost Sheet 3 4 Job Number 211-21 5 Description 1000 chairs 6 7 Direct materials Direct labor Manufacturing Overhead Machine 8 Week Amount Weekabor Hout Amount Week Hours Rate Amount 9 Week 1 000 3 88 898 XXX NON 11 12 13 14 15 16 Cost Summary Required Hours 17 Direct materials Total Direct Labor 0 hours 19 Direct labor Total Machine Hox O MH 19 Applied Manufacturing Over 20 Total Job Cost 21 22 23 Buckeye Office Furniture Job Cost Sheet 26 Job Number 27 Description 211-22 500 desks Direct materials Direct labor Manufacturing Overhead Machine 30 Week Amount Week #abor Hour Amount Week 1 Hours Rate Amount 31 Weekho SL SOMHET 32 34 SOUMIS Cost Summary 39 Direct materials 40 Direct labor 41 Applied Manufacturing Over 42 Total Job Cost 43 Required Hours Total Direct Lao Total Machine How O MH Buckeye Office Furniture Job Cost Sheet 46 211-23 48 Job Number: 49 Description 2.000 end tables Direct materials Direct Labor Manufacturing Overhead 52 Week Armour Week #abor How Around Week Plate 53 50 1 58 59 60 Cost Summary 61 Direct materials 52 Directa Applied Marwacturing Over 64 Total Job Cost Required Hours Total Director hour TO Machane 1490 M 66 1 Buckeye Office Furniture Actual Overhead Costs 2 Week 1 Overhead costs $ 10,000.00 Week 2 Overhead Costs Week 3 Overhead Costs Week 4 Overhead costs Total Overehead Costs $ 10,000.00 6,650.00 12,500.00 6,650.00 12,500.00 $ 22,500.00 $ $ 6,650.00 $ 29,150.00 3 Fixed Overhead Costs 4 Factory Rent 5 Factory Utilities 6 Supervision and Support Service Salaries 7 Equipment Depreciation 8 Total Fixed Overhead Costs 9 10 Variable Overhead costs: 11 Total Indirect Material Costs 12 13 Total Overhead Costs 14 15 16 17 $ $ 22,500.00 $ $ 6,650.00 $ 29,150.00 18 19 20 21 22 23 24 25 26 27 28 29 30 Overhead Budget Job Cost Sheets Actual Overhead Costs Questions to Answer Ready 2 Answer 3 4 5 Question Q1 What is the cost per chair? Q2 What is the cost per desk? Q3 What is the cost per end table? Q4 What is the total estimated overhead cost? Q5 What is the total applied overhead cost? Q6 What is the total actual overhead cost? Q7 What is the total direct material cost? Q8 What is the total direct labor cost? 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Overhead Budget Job Cost Sheets Actual Overhead Costs Questions Answer Ready