Question
Mallard's Manufacturing made the following estimates for the coming year: Total labor hours for the year: 1,123,000 Total machine hours for the year: 4,670,123 Total
Mallard's Manufacturing made the following estimates for the coming year:
Total labor hours for the year: 1,123,000 Total machine hours for the year: 4,670,123 Total manufacturing overhead for the year: $3,200,000 Actual results for June were as follows: Labor hours 11,345 Machine hours 40,000 Manufacturing overhead $36,235
a. Determine the predetermined overhead rate per labor hour for the current year.
Overhead rate round to 2 decimals
b. Using the predetermined overhead rate per labor hour, determine the manufacturing overhead applied to Work-in-Process during June.
Overhead $ applied round to 2 decimals
c. As of June 1, actual overhead was equal to the planned. Determine the cumulative amount of any overapplied or underapplied overhead at the end of June.
Actual - Applied round to 2 decimals
d. Was the overhead under or over applied?
Under (U) or Over (O) Mallard's Manufacturing made the following estimates for the coming year:
Total labor hours for the year: 1,123,000 Total machine hours for the year: 4,670,123 Total manufacturing overhead for the year: $3,200,000 Actual results for June were as follows: Labor hours 11,345 Machine hours 40,000 Manufacturing overhead $36,235
a. Determine the predetermined overhead rate per labor hour for the current year.
Overhead rate round to 2 decimals
b. Using the predetermined overhead rate per labor hour, determine the manufacturing overhead applied to Work-in-Process during June.
Overhead $ applied round to 2 decimals
c. As of June 1, actual overhead was equal to the planned. Determine the cumulative amount of any overapplied or underapplied overhead at the end of June.
Actual - Applied round to 2 decimals
d. Was the overhead under or over applied?
Under (U) or Over (O)
Mallard's Manufacturing made the following estimates for the coming year:
| Total labor hours for the year: | 1,123,000 | ||||
| Total machine hours for the year: | 4,670,123 | ||||
| Total manufacturing overhead for the year: | $3,200,000 | ||||
| Actual results for June were as follows: | |||||
| Labor hours | 11,345 | ||||
| Machine hours | 40,000 | ||||
| Manufacturing overhead | $36,235 |
a. Determine the predetermined overhead rate per labor hour for the current year.
Overhead rate round to 2 decimals
b. Using the predetermined overhead rate per labor hour, determine the manufacturing overhead applied to Work-in-Process during June.
Overhead $ applied round to 2 decimals
c. As of June 1, actual overhead was equal to the planned. Determine the cumulative amount of any overapplied or underapplied overhead at the end of June.
Actual - Applied round to 2 decimals
d. Was the overhead under or over applied?
Under (U) or Over (O) Mallard's Manufacturing made the following estimates for the coming year:
| Total labor hours for the year: | 1,123,000 | ||||
| Total machine hours for the year: | 4,670,123 | ||||
| Total manufacturing overhead for the year: | $3,200,000 | ||||
| Actual results for June were as follows: | |||||
| Labor hours | 11,345 | ||||
| Machine hours | 40,000 | ||||
| Manufacturing overhead | $36,235 |
a. Determine the predetermined overhead rate per labor hour for the current year.
Overhead rate round to 2 decimals
b. Using the predetermined overhead rate per labor hour, determine the manufacturing overhead applied to Work-in-Process during June.
Overhead $ applied round to 2 decimals
c. As of June 1, actual overhead was equal to the planned. Determine the cumulative amount of any overapplied or underapplied overhead at the end of June.
Actual - Applied round to 2 decimals
d. Was the overhead under or over applied?
Under (U) or Over (O)
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Horngrens Financial and Managerial Accounting
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
5th edition
978-0133866292
