Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Oriole Manufacturing is a small manufacturer that uses machine hours as its activity base for assigning overhead costs to jobs. The company estimated the

image text in transcribedimage text in transcribedimage text in transcribed

Oriole Manufacturing is a small manufacturer that uses machine hours as its activity base for assigning overhead costs to jobs. The company estimated the following amounts for 2022 for the company and for Job 62: Company Job 62 Direct materials $52,800 $4,000 Direct labor $22,000 $2,400 Manufacturing overhead costs $67,320 Machine hours 79,200 1,200 During 2022, the actual machine hours totaled 83,600, and actual overhead costs were $62,400. Compute the predetermined overhead rate. (Round answer to 2 decimal places, e.g. 52.75.) (b) Predetermined overhead rate $ eTextbook and Media Your answer is correct. Compute the total manufacturing costs for Job 62. Total manufacturing costs $ 7,420 0.85 per machine hour Attempts: 3 of 5 used (c) How much overhead is over or underapplied for the year for the company? State amount and whether it is over- or underapplied. Overhead $ eTextbook and Media

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

Intermediate Accounting

Authors: kieso, weygandt and warfield.

14th Edition

9780470587232, 470587288, 470587237, 978-0470587287

More Books

Students also viewed these Accounting questions

Question

6-2 Explain what is meant by reliability and validity.

Answered: 1 week ago