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Homework answers / question archive / Question 88 Sheridan Company provided the following information from its accounting records for 2019: Estimated production 80000 labor hours Actual production 76000 labor hours Budgeted overhead $2100000 Actual overhead $1840000 How much is the overhead application rate if Sheridan Company bases it on direct labor hours? $24
Question 88 Sheridan Company provided the following information from its accounting records for 2019: Estimated production 80000 labor hours Actual production 76000 labor hours Budgeted overhead $2100000 Actual overhead $1840000 How much is the overhead application rate if Sheridan Company bases it on direct labor hours? $24.21 per hour $27.63 per hour $26.25 per hour $23.00 per hour
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Multiple Choice Question 100 Coronado Industries applies overhead on the basis of 200% of direct labor cost. Job No. 305 is charged with $90000 of direct materials costs and $200000 of manufacturing overhead. The total manufacturing costs for Job No. 305 is: $490000 $380000 $290000 $390000 Click if you would like to Show Work for this question:
Answer:
Sheridan Company
Overhead Application = Budgeted Overhead / Estimated production hours =$2100000 / 80000 labor hours = $26.25 per hour.
Coronado Industries
Direct Labor cost for Job 305 = Manufacturing cost / 2 = 200000 / 2 = 100000
Total Manufacturing cost for Job 305 = Direct Materials + Direct Labor + Manufacturing Overhead = $90000 + $100000 + $200000 = $390000
