Sloan Company produces uniforms. The company allocates manufacturing overhead based on the machine hours each job uses. Sloan Company reports the following cost data for the past year: (Click the icon to view the cost data.) Read the requirements, 1 Data Table Requirements Requirement 1. Compu Budget Actual Enter the formula for pre Direct labor hours.. 7,600 hours 6,100 hours 7,000 hours 6,500 hours 1. Compute the predetermined manufacturing overhead rate. 2. Calculate the allocated manufacturing overhead for the past year. 3. Compute the underallocated or overallocated manufacturing overhead. How will this underallocated or overallocated manufacturing overhead be disposed of? 4. How can managers use accounting information to help control manufacturing overhead costs? Machine hours.. 196000 Depreciation on salespeople's autos $ 23,000 $ 23,000 $ Requirement 2. Calcula Indirect materials... 50,500 $ 54,000 $ 15,000 $ Depreciation on trucks used to deliver uniforms to customers Depreciation on plant and equipment Indirect manufacturing labor. Customer service hotline.. 16,000 $ 68,000 $ 39,500 $ 69,000 Print Done 42,500 22,500 $ 21,500 $ Requirement 3. Compu Plant utilities $ 38,000 $ 40,500 First calculate the prelim Direct labor cost. $ 72,500 $ 86,500 Print Done Windows FEAT Windows, Time Remaining: 03:13:27 Next Requirement 1. Compute the predetermined manufacturing overhead rate. Enter the formula for predetermined manufacturing overhead rate, then compute the rate. Predetermined overhead rate 7000 28 per machine hour R ng overhead for the past year. Estimated yearly direct labor cost Manufacturing overhead allocated Estimated yearly direct labor hours Estimated yearly machine hours R rallocated manufacturing overhead. How will this underallocated or overallocated manufacturing overhead be disposed of? Estimated yearly overhead costs F. ad balance using the T-account. Manufacturing Overhead Requirement 1. Compute the predetermined manufacturing overhead rate. Enter the formula for predetermined manufacturing overhead rate, then compute the rate. Predetermined overhead rate 196000 28 per machine hour Requirement 2. Calculate the allocated me Estimated yearly direct labor cost Manufacturing Estimated yearly direct labor hours overhead allocated Estimated yearly machine hours Requirement 3. Compute the underallocat will this underallocated or overallocated manufacturing overhead be disposed of? Estimated yearly overhead costs First calculate the preliminary manufacturin Manufacturing Overhead Windows Requirement 3. Compute the underallocated or overallocated manufacturing overhead. How will this underallocated or overallocated manufacturing overhead be disposed of? First calculate the preliminary manufacturing overhead balance using the T-account. Manufacturing Overhead Close the under-or overallocated overhead to Cost of Goods Sold by journalizing the entry. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit 11 SI Close the under-or overallocated overhead to Cost of Goods Sold by journalizing the entry. (Record dobite firet thon crodite Eveludo explanations from any journal entries.) Journal Entry Date Accounts Debit Credit depreciation on delivery trucks finished goods inventory manufacturing overhead work in process inventory Requirement 4. How can managers use accounting information to help control manufacturing with the budgeted amounts. Managers will also investigate only differences between actual and budgeted amounts to To help control manufacturing overhead, managers compare the actual line item amounts for identify the reasons why actual costs Windows Windows