TNQBTK124 Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the most recently completed year appear below. (ID#82312) Estimates made at the beginning of the year: Estimated machine-hours Estimated variable manufacturing overhead Estimated total fixed manufacturing overhead Actual machine-hours for the year Multiple Choice $32.27 per machine-hour $31.93 per machine-hour (Baruch College Exam) Q) What was TNQBTK124 Corp.'s predetermined overhead rate for the recently completed year? (choose the closest answer) $25.35 per machine-hour $ $6.92 per machine-hour 43,000 6.92 per machine-hour $1,090,050 40,900

TNQBTK124 Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the most recently completed year appear below. (ID#82312) Estimates made at the beginning of the year: Estimated machine-hours Estimated variable manufacturing overhead Estimated total fixed manufacturing overhead Actual machine-hours for the year Multiple Choice $32.27 per machine-hour $31.93 per machine-hour (Baruch College Exam) Q) What was TNQBTK124 Corp.'s predetermined overhead rate for the recently completed year? (choose the closest answer) $25.35 per machine-hour $ $6.92 per machine-hour 43,000 6.92 per machine-hour $1,090,050 40,900

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Description: TNQBTK124 Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the most recently completed year appear below:(ID#82312)Estimates made at the beginning of the year:Estimated machine-hoursEst

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 11PB: When setting its predetermined overhead application rate. Tasty Turtle estimated its overhead would...

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When setting its predetermined overhead application rate. Tasty Turtle estimated its overhead would be $75,000 and manufacturing would require 25,000 machine hours in the next year. At the end of the year, it found that actual overhead was $74,000 and manufacturing required 24,000 machine hours. Determine the predetermined overhead rate. What is the overhead applied during the year? Prepare the journal entry to eliminate the under- or over applied overhead.
Coops Stoops estimated its annual overhead to be $85,000 and based its predetermined overhead rate on 24,286 direct labor hours. At the end of the year, actual overhead was $90,000 and the total direct labor hours were 24,100. What is the entry to dispose of the over applied or under applied overhead?
Ripley, Inc., costs products using a normal costing system. The following data are available for last year: Overhead is applied on the basis of direct labor hours. Required: 1. What was the predetermined overhead rate? 2. What was the applied overhead for last year? 3. Was overhead over- or underapplied, and by how much? 4. What was the total cost per unit produced (carry your answer to four significant digits)?
MountaIn Peaks applies overhead on the basis of machine hours and reports the following information: A. What is the predetermined overhead rate? B. How much overhead was applied during the year? C. Was overhead over- or under applied, and by what amount? D. What is the journal entry to dispose of the over- or under applied overhead?
Brothern Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the most recently completed year appear below: Estimates made at the beginning of the year: Estimated machine-hours Estimated variable manufacturing overhead Estimated total fixed manufacturing overhead Actual machine-hours for the year The predetermined overhead rate for the recently completed year was closest to: Multiple Choice O O $6.73 per machine-hour $28.56 per machine-hour $29.05 per machine-hour O $22.32 per machine-hour 35,900 $ 6.73 per machine-hour $ 801,288 33,300
Corporation bases its predetermined overhead rate on the estimated machinehours for the upcoming yearfor the upcoming year appear below Estimated machine - hours Estimated variable manufacturing overhead Estimated total fixed manufacturing overhead 36,000 3.01 per machine-hour 1,058,040 The predetermined overhead rate for the recently completed year was closest to
I need all parts of this question answered Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 66,000 labor-hours. The estimated variable manufacturing overhead was $8.41 per labor-hour and the estimated total fixed manufacturing overhead was $1,533,180. The actual labor-hours for the year turned out to be 68,400 labor-hours. Required: Compute the company's predetermined overhead rate for the recently completed year.
Archangel Manufacturing calculated a predetermined overhead allocation rate at the beginning of the year based on direct labor costs. The production details for the year are given below: Total manufacturing overhead costs estimated at the beginning of the year Total direct labor costs estimated at the beginning of the year Total direct labor hours estimated at the beginning of the year Actual manufacturing overhead costs for the year Actual direct labor costs for the year Actual direct labor hours for the year 11,000 di 10,000 di Calculate the manufacturing overhead allocation rate for the year based on the above data (Round your final answer to two decimal places.) A. 28.00% B. 11.43% OC. 43.75% OD. 264.29%
Giannitti Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the upcoming year appear below: Estimated machine-hours 72,500 Estimated variable manufacturing overhead Estimated total fixed manufacturing overhead $ 3.20 per machine-hour $838,700 The predetermined overhead rate for the recently completed year was closest to:
Giannitti Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the upcoming year appear below: Estimated machine-hours 72,900 Estimated variable manufacturing overhead $ 3.50 per machine-hour Estimated total fixed manufacturing overhead $ 838,710 The predetermined overhead rate for the recently completed year was closest to: Multiple Choice A. $6.66 per machine-hour B. $10.50 per machine-hour C. $8.69 per machine-hour D. $15.00 per machine-hour
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Lake Balboa Manufacturing Company decides to relate total factory overhead costs to direct labor hours (DLH) to develop a cost-volume formula in the form of y = a + bx. Observations from 2019 are collected. They are given and on the excel file. Month Direct Labor Hours Factory Overhead January 9,000 13,000 February 19,000 20,000 March 11,000 14,000 April 14,000 16,000 May 23,000 25,000 June 12,000 20,000 July 12,000 20,000 August 22,000 23,000 September 7,000 14,000 October 13,000 22,000 November 15,000 18,000 December 17,000 18,000 Total 174,000 hours $225,000 In October of 2020, the company used 13,000 direct labor hours. Using the cost formula for factory overhead calculated using the High-Low Method, calculate the factory overhead for October 2020.