Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ivanhoe Company ones a job order cost stem in each of its three manufacturing departments, Manufacturing overhead is applied to jobs on the basis of

image text in transcribed
image text in transcribed
image text in transcribed
Ivanhoe Company ones a job order cost stem in each of its three manufacturing departments, Manufacturing overhead is applied to jobs on the basis of direct labor cost in Department, direct labor hours in Department and machine hours in Department In establishing the predetermined overhead rates for 2022, the following estimates were made for the year. Department E $1.279.000 $1.890.000 $972000 $1,620.000 51.350,000 5486,000 Manufacturing overhead Direct labor costs Direct labor hours Machine hours 108.000 335.000 43200 432.000 540.000 129.000 The following information pertains to January 2022 for each manufacturing department, Department $136.080 $84.200 5151.200 $129.800 Direct materials used Direct labor costs Manufacturing overhead incurred Direct labor hours 5118,500 $133,920 $106,920 540.500 $85320 3.780 3,640 11880 Machine hours 36.720 41.600 11.232 Ca) Compute the predetermined overhead ratt for each department (Round per machine hour answers to decimale 12.50 and other answers to decimal places. 12 or 120 (a) Compute the predetermined overhead rate for each department (Round per machine hour answers to 2 decimal places, eg. 12.50 and other answers to decimal places, 12 or 12 Overhead rate Department X Department per direct labor hour Department $ per machine hour e Textbook and Media Save for Later Attempts: 0 of 2 used Submit Ant (bl Compute the total manufacturing costs assigned to jobs in January in each department. Manufacturing Costs Department $ Department 5 Department 5 eTextbook and Media Attempts of used (b) Compute the total manufacturing costs assigned to jobs in January in each department. Manufacturing Costs Department D $ Department E $ Department $ eTextbook and Media Save for Later Attempts: 0 of 2 used Submit Answer (c) Compute the under or overapplied overhead for each department at January 31. Manufacturing Overhead Department $ Department $ Department e Textbook and Media Save for Later Attempts: 0 of 2 used Submit

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

Financial Accounting Tools For Business Decision Making

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

4th Edition

0471730513, 978-0471730514

More Books

Students also viewed these Accounting questions

Question

8. Describe the main retirement benefits.

Answered: 1 week ago