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2.

Haldane Company estimates that its overhead costs for 2014 will be $200,220 and output in units of product will be 282,000 units.

Required:

a.

Calculate Haldanes predetermined overhead rate based on expected production. (Round your answer to 2 decimal places.)

predetermined overhead rate per unit.

If 25,000 units of product were made in March 2014, how much overhead cost would be allocated to the Work in Process Inventory account during the month? (Do not round intermediate calculations. Round your final answer to the nearest dollar amount.)

allocated overhead cost

3.

Mason Company and Rodd Company both apply overhead to the Work in Process Inventory account using direct labor hours. The following information is available for both companies for the year.

	Mason Company			Rodd Company
Actual manufacturing overhead	$	194,350		$	218,900
Actual direct labor hours		27,000			22,000
Underapplied overhead					11,000
Overapplied overhead		23,000

Required:
a.	Compute the predetermined overhead rate for each company. (Round your answers to 2 decimal places.) per direct labour hour Mason company rodd company predetermined overhead rate b. Using T-accounts, record applied and actual overhead and the entry to close the overapplied or underapplied overhead at the end of the accounting period for each company, assuming the amounts are immaterial. Adjusting Entry for Mason Company:
	manufacturing overhead table cost of good sold table Adjusting Entry for Rodd Company: manufacturing overhead table cost of good sold table

4. Paton Company incurred manufacturing overhead cost for the year as follows.

Direct materials	$	38.20	/unit
Direct labor	$	26.20	/unit
Manufacturing overhead
Variable	$	11.30	/unit
Fixed ($18.70/unit for 1,000 units)	$	18,700
Variable selling and admin. expenses	$	3,950
Fixed selling and admin. expenses	$	15,800

The company produced 1,000 units and sold 500 of them at $181.40 per unit. Assume that the production manager is paid a 2 percent bonus based on the companys net income.

Required:

a.

Prepare an income statement using absorption costing. (Round your answers to the nearest dollar amount.) b. Prepare an income statement using variable costing. (Round your answers to the nearest dollar amount.) c-1. Determine the managers bonus using each approach. (Round your intermediate calculations and final answers to the nearest dollar amount.) absorption costing variable costing c-2. Which approach would you recommend for internal reporting. variable costing absorption costing