Winston Company estimates that the factory overhead for the following year will be $948,600. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 27,900 hours. The total machine hours for the year were 54,000. The actual factory overhead for the year was $1,825,000. $ a. Determine the total factory overhead amount applied. Round to the nearest dollar. 34 x b. Compute the over- or underapplied amount for the year. Enter the amount as a positive number. $ 11,000 overapplied C. Journalize the entry to transfer the over- or underapplied factory overhead to cost of goods sold. If an amount box does not require an entry, leave it blank. Cost of Goods Sold x Factory Overhead x 11,000 11,000 Which of the following is the easiest but least accurate of the commonly used methods for allocating support department costs to production departments? a. sequential method b. activity-based management method c. direct method d. reciprocal services method The Mountain Springs Water Company has two departments, Purifying and Bottling. The Bottling Department had 2,790 liters in beginning work in process inventory (30% complete). During the period 59,360 liters were completed. The ending work in process was 6,460 liters (70% completed). All inventories are costed by the first-in, first-out method. What is the total equivalent units for direct materials (using the FIFO method) if materials were added at the beginning of the process? 61,092 x equivalent units Journalize the entries to record the following transactions: 1. Mar. 10: 500 units of raw materials were purchased on account at $6.50 per unit. 2. Mar. 15: 400 units of raw materials were requisitioned at $7.00 per unit for production, Job 872. 3. Mar. 25: 300 units of raw materials were requisitioned at $6.50 per unit for production, Job 879. If an amount box does not require an entry, leave it blank. 3,250 Mar. 10 Materials Accounts Payable 3.250 > 1,500 x > Mar. 15 Work in Process Materials 1,500 X 700 x Mar. 25 Work in Process Materials > 700 X The cost per equivalent units of direct materials and conversion in the Bottling Department of Beverages on Jolt Company is $0.50 and $0.20, respectively. The equivalent units to be assigned costs are as follows: Direct Materials Conversion Inventory in process, beginning of period 0 3,390 Started and completed during the period 52,090 52,090 Transferred out of Bottling (completed) 52,090 55,480 Inventory in process, end of period 3,830 2,800 Total units to be assigned costs 55,920 58,280 The beginning work in process inventory had a cost of $3,910. Determine the cost of completed and transferred out production, and the ending work in process inventory. Completed and transferred out production 41,051 Inventory in process, ending 1,975 x The total factory overhead for Big Light Company is budgeted for the year at $1,007,640. Big Light manufactures two different products: night lights and desk lamps. Night lights are budgeted for 13,800 units. Each night light requires 3 hours of direct labor. Desk lamps are budgeted for 10,400 units. Each desk lamp requires 2 hours of direct labor. a Determine the total number of budgeted direct labor hours for the year. 32,200 x direct labor hours b Determine the single plantwide factory overhead rate using direct labor hours as the allocation base. Round your answer to two decimal places. 16.20 per direct labor hour c Determine the factory overhead allocated per unit for each product using the single plantwide factory overhead rate determined in (b). Round your answers to two decimal places. Night Lights 48.60 per unit Desk Lamps 32.40 per unit The Bottling Department of Mountain Springs Water Company had 4,100 liters in beginning work in process inventory (20% complete). During the period, 55,500 liters were completed. The ending work in process inventory was 3,200 liters (70% complete). All inventories are costed by the first-in, first-out method. What are the equivalent units for conversion costs under the FIFO method? 54,560 x equivalent units