Part of Required information The following information applies to the questions displayed below! The following data pertain to the Oneida Restaurant Supply Company for the year just ended 30 Budgeted sales revenge Actualmufacturing overhead Budgeted in hours (based on practical capacity) Bulgte direct labor hours (based on practical capacity) Builted direct laborate tuled ficturing overhead Actub machine hours Actul director hours Actul direct laborate 5210,000 36.000 10.000 20.000 14 $164,000 11,000 70,000 1 15 Required: 1. Compute the firm's predetermined overhead rate for the year using each of the following common cost drivers: (a) machine hou. (b) direct-labor hours, and (direct-labor dollars. (Round your answers to 2 decimal places.) Overload Rate Cost Drivers (a) Machine hours (b) Direct-abor hours (c) Direct-labor dollars per machine hour per direct-labor hour per direct-labor dollar Help Save & Exit Submit Check my work Budgeted sales revenue Actual manufacturing overhead Budgeted machine hours (based on practical capacity) Hudgeted direct labor hours (based on practical capacity Budgeted direct labor rate Budgeted manufacturing overhead Actual machine hours Actual direct labor hours Actual direct labor rate $210,000 336,000 10,000 20,000 5 5364,000 11.000 10.000 $ 15 2. Calculate the overapplied or underapplied overhead for the year using each of the following cost drivers (Round intermediate calculation to 2 decimal places.) Anout Cast Day (a) Machine hours (b) Direct labor hours (c) Direct-abor dollars Check my work Finley Educational Products started and finished job rumber 167 during June. The job required 81 800 of direct material and 30 hours of direct labor at $15 per hour. The predetermined overhead rate is $5 pet directLabor hout Required: Prepare journal entries to record the incurrence of production costs and the completion of job number 167 of no entry is required for a transaction/event, select "No journal entry required in the first account field) View transaction list 1 1 Work in proces bet 1500 Journal entry worksheet Record the cost of the raw materials, direct labor and manufacturing overhead costs applied to Job 367. OOK Noteit Enter debits before credits Transaction General Journal Dobil Crodle 1 Work in process inventory 4.800 Record entry Clear entry View general journal Journal entry worksheet 2 Record transfer of job costs from work in process to finished goods inventory Note: Enter debits before credits. General Journal Debit Credit Transaction 2 ces Record entry Clear entry View general Journal Required information [The following information applies to the questions displayed below) The following data pertain to the Oneida Restaurant Supply Company for the year just ended. Budgeted sales revenue Actual manufacturing overhead Budgeted machine hours (based on practical capacity) Budgeted direct-labor hours (based on practical capacity) Budgeted direct-labor rate Budgeted manufacturing overhead Actual machine hours Actual direct-labor hours Actual direct-labor rate $219,eee 336,000 10,800 2e,eee $ 14 $364,000 11, ee 18,000 15
