Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The Thomlin Company forecasts that total overhead for the current year will be $11,229,000 with 164,000 total machine hours. Year to date, the actual overhead
The Thomlin Company forecasts that total overhead for the current year will be $11,229,000 with 164,000 total machine hours. Year to date, the actual overhead is $7,743,000 and the actual machine hours 84,000 hours. The predetermined overhead rate based on machine hours is Round the factory overhead rate to the nearest dollar before multiplying by the number of hours. Oa. $92 per machine hour Ob. $47 per machine hour Oc. $134 per machine hour Od. $68 per machine hour Reynolds Manufacturers Inc. has estimated total factory overhead costs of $118,800 and expected direct labor hours of 10,800 for the current fiscal year. If job number 117 incurs 1,310 direct labor hours, Work in Process will be debited and Factory Overhead will be credited for Oa. $118,800 Ob. $59,400 Oc. $14,410 Od. $1,310 Given the following data: Cost of materials used Direct labor costs Factory overhead Work in process, beginning Work in process, ending Finished goods, beginning Finished goods, ending $45,000 48,000 39,000 28,000 18,000 28,000 18,000 What is cost of goods sold? Oa. $152,000 Ob. $142,000 Oc. $10,000 Od. $128,000
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