Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Sur Company aplies manufacturing overhead to jobs on the basis of machine hours med Overhead court year and machine ag is estimated at 120.000 hours
Sur Company aplies manufacturing overhead to jobs on the basis of machine hours med Overhead court year and machine ag is estimated at 120.000 hours in the hest quarter of the calendar year, 5240.000 of overhead costs was incurred and 31000 machine hours were used for the reader of the $590.000 of additional overhead costs are incurred. Actual machine hours exceeded expected machine hours by 1/60 of them Fill in the blankes be sure to NOT include any commas or decimals unless otherwise stated. For example $1.000 25 should be des 1000 include decimals is answer is to be rounded to the nearest $0.01 you would express the answer as 1000.25 per machine hour, rounded to the nearest $0.01 Fill in the blanks below based on the information above: A The calculated the manufacturing overhead rate for the year is $ B. How much is the amount of over- or under-applied overhead at March 31?$ C. The calculated actual amount of additional excess overhead machine hours is $ D. The actual amount of machine hours used from April to December is E. The applied overhead from April to December is $ F. How much is the amount of over- or under-applied overhead from April to December 31, if over- or under-applied overhead has not been accounted for since March 31?$ -applied overhead. Summer Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $840,000 for the year, and machine usage is estimated at 120.000 hours. In the first quarter of the calendar year, $240,000 of overhead costs was incurred and 31.000 machine hours were used. For the remainder of the year. $590,000 of additional overhead costs are incurred. Actual machine hours exceeded expected machine hours by 1/60th of the original estimate. Fill in the blanks be sure to NOT include any commas or decimals unless otherwise stated. For example $1,000.25 should be expressed as 1000. Only include decimals is answer is to be rounded to the nearest $0.01 you would express the answer as 1000.25 Fill in the blanks below based on the information above: A. The calculated the manufacturing overhead rate for the year is $ per machine hour, rounded to the nearest $0.01. B. How much is the amount of over- or under-applied overhead at March 31?$ C. The calculated actual amount of additional excess overhead machine hours is $ D. The actual amount of machine hours used from April to December is E. The applied overhead from April to December is $ F. How much is the amount of over- or under-applied overhead from April to December 31, if over- or under-applied overhead has not been accounted for since March 31?$ -applied overhead
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started