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Take me to the text The following information was reported by Fyfe Company relating to its first year of operations. Note that Fyfe has only
Take me to the text The following information was reported by Fyfe Company relating to its first year of operations. Note that Fyfe has only identified direct labor and direct materials as direct costs. Item Expected Cost Actual Cost Advertising Expenditures $155,700 S156,100 Depreciation on Factory Equipment $595,900 $568,700 Direct Labor $853,000 5837,000 Direct Materials $1,273,000 $1,215,000 Factory Supplies $96,400 $109,400 Head Office General Expenditures $385,100 $397,200 Head Office Salaries $338,100 $357,900 Heating in Factory $125,900 $120,400 Income Taxes $2,984,000 $2,875,000 Machine Repair and Maintenance $102,800 $109,700 Production Supervisor Wages $111,200 $117,500 Rent for Factory $907,800 $906,200 Office Supplies $118,600 S119,500 Sales Expenditures $478,000 $499,400 Total $8,525,500 $8,389,000 Fyfe Company allocates manufacturing overhead using a predetermined overhead rate. Fyfe uses direct labor hours as an allocation base and incurs 36,600 direct labor hours. a) What is the total estimated manufacturing overhead cost? Do not enter dollar signs or commas in the input boxes. Item Overhead Cost? Advertising Expenditures No Depreciation on Factory Equipment Yes Direct Labor No Direct Materials No Factory Supplies Yes Head Office General Expenditures No Head Office Salaries No Heating in Factory Yes Income Taxes No Machine Repair and Maintenance Yes Production Supervisor Wages Yes Rent for Factory Yes Office Supplies No Sales Expenditures No Estimated Manufacturing Overhead Costs: 1940000 b) What is the predetermined overhead rate? Round your answer to 2 decimal places. Predetermined overhead rate: 53.01 C) If the hourly rate for direct labor is $19, what is the manufacturing overhead applied to production? Round your answer to the nearest whole number. Applied Overhead: 5390001 X d) What is the over or under-allocated manufacturing overhead for this year? Assume the wage rate is still $19/hr. Over-allocated - X Check
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