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please show work Questions 5, 6, 7, and 8 are based on the following information: Gell Corporation manufactures computers. Assume that Gell: allocates manufacturing overhead
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Questions 5, 6, 7, and 8 are based on the following information: Gell Corporation manufactures computers. Assume that Gell: allocates manufacturing overhead based on machine hours estimated 12,000 machine hours and $93,000 of manufacturing overhead costs actually used 16,000 machine hours and incurred the following actual costs: Indirect labor Depreciation on plant Machinery repair Direct labor Plant supplies Plant utilities Advertising Sales commissions $11,000 48,000 11,000 75,000 6,000 7,000 35,000 27,000 5. What is Gell's predetermined overhead allocation rate? a. $7.75/machine hour b. $5.81/machine hour c. $6.92/machine hour d. $5.19/machine hour 6. What is Gell's actual manufacturing overhead cost? $158,000 b. $83,000 c. $145,000 d. $220,000 a. 7. How much manufacturing overhead would Gell allocate? b. $93,000 c. $124,000 d. $220,000 a. $83,000 8. What entry would Gell make to adjust the manufacturing overhead account for overallocated or underallocated overhead? Date Accounts and Explanation Debit Credit 10,000 a. Manufacturing Overhead b. Manufacturing Overhead C. Cost of Goods Sold d. Cost of Goods Sold Cost of Goods Sold 10,000 41,000 Cost of Goods Sold 41,000 41,000 Manufacturing Overhead 41,000 10,000 Manufacturing Overhead 10,000Step by Step Solution
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