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Old MathJax webview How do I get the actual machine hours to solve this? Young Foundry uses a predetermined overhead allocationale Click the icon to
Old MathJax webview
How do I get the actual machine hours to solve this?
Young Foundry uses a predetermined overhead allocationale Click the icon to view the costs.) At the beginning of 2024, the company expected to incur the following: Read the requirements. $840,000 Manufacturing overhead costs Estimated machine nours Estimated overnead cost allocation rate Direct labor costs 1,480,000 70,000 $ 12 per machi S 840,000 70,000 hours Machine hours Requirement 2. Prepare the journal entry to allocate manufacturing overhead. (Record debits first, then re At the end of 2024, the company had actually incurred: Debit Credit Date Accounts and Explanation $1,230,000 Direct labor costs 620,000 Dec. 31 Work-in-Process Inventory Manufacturing Overhead Depreciation on manufacturing plant and equipment 35,500 Property taxes on plant 26,000 Sales salaries 22,500 Delivery drivers' wages 17.000 Allocated overhead to WIP Plantianitor's wanes Print Done Choose from any list or enter any number in the input fields and then click Check Answer Clear A parts Young Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on the machine hours required. E (Click the icon to view the costs.) Read the requirements. Requirement 1. Compute Young's predetermined overhead allocation rate. Predetermined overhead Estimated overhead cost Estimated machine hours allocation rate 840,000 70,000 $ 12 per machine hour the last line of the journal Requirement 2. Prepare the journal entry to allocate manufacturing overhead. (Record debits first, then credits. Select the explanation entry table.) Date Accounts and Explanation Debit Credit Dec. 31 Work-in-Process Inventory Manufacturing Overhead Allocated overhead to WIP. Data Table At the beginning of 2024, the company expected to incur the following Manufacturing overhead costs $840,000 Direct labor costs 1,480,000 Machine hours 70,000 hours At the end of 2024, the company had actually incurred: Direct labor costs $1,230,000 Depreciation on manufacturing plant and equipment 620,000 Property taxes on plant 35,500 Sales salaries 26,000 Delivery drivers' wages 22,500 Plant janitor's wages 17,000 Machine hours 60,000 hours Print Done
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