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Would you mind also show me how to calculate the answers? work (MAP) to the text ts first year of operations, Salt Company had estimated
Would you mind also show me how to calculate the answers?
work (MAP) to the text ts first year of operations, Salt Company had estimated total manufacturing overhead to be $2,032,800. mpany used direct labor hours as an allocation base for the predetermined overhead rate. Estimated total bor hours for the year was 15,400 and actual total direct labor hours amounted to 20,400. The direct labor te is $20/hr. Actual manufacturing overhead was 110% of estimated total manufacturing overhead. ing balances in work-in-process, finished goods inventory, and cost of goods sold before any adjustment or under-allocated manufacturing overhead were $484,000, $1,730,000, and $3,340,000 respectively. An of the account balances concluded that actual direct labor cost was 12% of the account balance for all ccounts. enter dollar signs or commas in the input boxes. ose Salt Company has a policy of allocating any over or under-allocated manufacturing overhead to cost of sold. Calculate the amount of over or under-allocated manufacturing overhead. the overhead rate to 2 decimal places. Do not enter dollar signs or commas in the input boxes. a) Suppose Salt Company has a policy of allocating any over or under-allocated manufacturing overhead to cost of goods sold. Calculate the amount of over or under-allocated manufacturing overhead. Round the overhead rate to 2 decimal places. Salt Company's manufacturing overhead rate: $ Round the rest of these answers to the nearest whole dollar. Total Manufacturing overhead allocated: $ Actual Manufacturing Overhead: $ Over-allocated: $ b) Record the appropriate adjusting entry for part (a) Actual Manufacturing Overhead: $ Over-allocated: $ b) Record the appropriate adjusting entry for part (a) Date Account Title and Explanation Debit Credit Jan 31 CheckStep by Step Solution
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