Question
Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The cost accountant for Kenner Beverage Co. estimated that total factory overhead
Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance
The cost accountant for Kenner Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning May 1 would be $766,800, and total direct labor costs would be $639,000. During May, the actual direct labor cost totaled $55,000, and factory overhead cost incurred totaled $68,650.
a. What is the predetermined factory overhead rate based on direct labor cost? Enter your answer as a whole percent not in decimals. fill in the blank 3033ecf5b026027_1 %
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Identify the activity base for this company. Remember to enter the number as a whole percent not in decimals.
b. Journalize the entry to apply factory overhead to production for May.
Work in Process-Blending Department | fill in the blank 4ed25df8001b03f_2 | ||
Factory Overhead-Blending Department | fill in the blank 4ed25df8001b03f_4 |
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Recall how the predetermined overhead is applied to departments. How does the applied overhead affect work in process?
c. What is the May 31 balance of the account Factory OverheadBlending Department?
Amount: | $fill in the blank 4a97cdf81f86006_1 |
Debit or Credit? | Debit |
d. Does the balance in part (c) represent overapplied or underapplied factory overhead? Underapplied factory overhead
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