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please fill out the blank chart and following questions Home Corporation manufactures precision equipment made to order for the semiconductor industry. Home uses two manufacturing

please fill out the blank chart and following questions
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Home Corporation manufactures precision equipment made to order for the semiconductor industry. Home uses two manufacturing overhead cost poolsone for the overhead costs incurred in its highly automated Machining Department and another for overhead costs incurred in its labour-based Assembly Department. Home uses a normal costing system. It allocates Machining Department overhead costs to jobs based on actual machine-hours using a budgeted machine-hour overhead rate. It allocates Assembly Department overhead costs to jobs based on actual direct manufacturing labour-hours using a budgeted direct manufacturing labour-hour rate. The following data are for the year: (Click the icon to view the data for the year.) Reguired Requirement 1. Compute the budgeted overhead rates for the year in the Machining and Assembly Departments. (Round your answers to the nearest whole dollar.) The budgeted overhead rate for the year in the Machining Department is $ 64 The budgeted overhead rate for the year in the Assembly Department is $ 62 Requirement 2. Compute the under- or overallocated overhead in each department for the year. Dispose of the under- or overallocated amount in each department using a. immediate write-off to Cost of Goods Sold; Finished Goods, and Work-in-Process; and c. proration based on the allocated overhead amount (before proration) in the ending balances of Cost of Goods Sold, Finished Goods, and Work-in-Process. We will begin with a. immediate write-off to Cost of Goods Sold. The first step is to find the over- or underallocated amounts for each department. Begin by selecting the formula and then enter the amounts for the Machining Department. (Indicate an overallocated amount using par Data for the year Budgeted overhead Budgeted machine-hours (MH) Budgeted direct manufacturing labour-hours (DMLH) Actual manufacturing overhead costs Machining Department 75,000 4,750,000 $ Assembly Department 7,812,000 125,000 7,962,000 Machine-hours and direct manufacturing labour-hours and the ending balances (before proration of underallocated overhead) are as follows: Actual manufacturing overhead costs 4,750,000 7,962,000 Manufacturing overhead allocated 6,380,800 7,043,200 Overallocation or underallocation 918,800 Now, dispose of this amount using a write-off to Cost of Goods Sold for the Machining Department. Show the account balances after the write-off. (Use parentheses or a minus sign for any subtractions. Enter a "0" for Cost of Goods Sold Finished Goods Work-in-Process Actual Machine- Hours 75,000 9,000 15,700 print Actual Direct Manufacturing Labour-Hours 78,100 7,000 28,500 Done Balance Before Proration, End of Year 21 Account Balance Before Proration 21,400,000 Adjustment (712,000)" = Account Balance After Proration 20,688,000 Cost of Goods Sold Finished Goods Control Work-in-Process Control b. Compute the under- or overallocated overhead in each department for the year. Dispose of the under- or overallocated amount in each department using proration based on ending balances (before proration) in C round the interim proration ratio to eight decimal places as needed. Use parentheses or a minus sign for any subtractions. Round your final answers to the nearest whole dollar.) Prorated Underallocated or Overallocated Overhead Machining Dept. Prorated Underallocated or Overallocated Overhead Assembly Dept. Account Balance 7,700,000 2,500,000 21 Account Balance After Proration COGS Total

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