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The following dashboard shows a manufacturer s estimated and actual costs for the year. A manufacturer s estimated and actual costs for the year. Indirect
The following dashboard shows a manufacturers estimated and actual costs for the year.
A manufacturers estimated and actual costs for the year. Indirect materials: estimated costs, ; actual costs, other overhead costs: estimated costs, ; actual costs, depreciation of factory building: estimated costs, ; actual costs, Depreciation of factory equipment: estimated costs, ; actual costs, selling expenses: estimated costs, ; actual costs, general and administrative expenses: estimated costs, ; actual costs, indirect labor: estimated costs, ; actual costs, Direct materials: estimated costs, ; actual costs, Direct labor: estimated costs, ; actual costs, All values are in dollars. Estimated overhead cost
Indirect materialsselected answer correct $selected answer correct
Depreciation of factory buildingselected answer correct selected answer correct
Depreciation of factory equipmentselected answer correct selected answer correct
General and administrative expensesselected answer incorrect selected answer incorrect
not attempted not attempted
not attempted not attempted
Total estimated overhead cost $ Compute the predetermined overhead rate as a percentage of estimated direct labor cost.
Overhead Rate
Numerator: Denominator: Overhead Rate
Estimated overhead costselected answer correct Estimated direct laborselected answer correct Overhead Rate
$selected answer incorrect $selected answer correct Compute the total amount of applied overhead for the year.
Applied overhead for the year $selected answer incorrect Compute the total amount of actual overhead for the year.
Actual overhead cost
Indirect materialsselected answer correct $selected answer correct
Depreciation of factory buildingselected answer correct selected answer correct
Depreciation of factory equipmentselected answer correct selected answer correct
General and administrative expensesselected answer incorrect selected answer incorrect
not attempted not attempted
not attempted not attempted
Total actual overhead cost $ Prepare the journal entry to close under or overapplied overhead at yearend.
No Transaction General Journal Debit Credit
A Factory overheadselected answer correct selected answer incorrect not attempted
Cost of goods soldselected answer correct not attempted selected answer incorrect
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