Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Deglman Manufacturing uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2012, Job No. 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $25,800, direct labor $15,480, and manufacturing overhead $20,640. As of January 1, Job No. 49 had been completed at a cost of $116,100 and was part of finished goods inventory. There was a $19,350 balance in the Raw Materials Inventory account.

During the month of January, Deglman Manufacturing began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were also sold on account during the month for $157,380 and $203,820, respectively. The following additional events occurred during the month.

1. Purchased additional raw materials of $116,100 on account.
2. Incurred factory labor costs of $90,300. Of this amount $20,640 related to employer payroll taxes.
3. Incurred manufacturing overhead costs as follows: indirect materials $21,930; indirect labor $25,800; depreciation expense on equipment $24,510; and various other manufacturing overhead costs on account $20,640.
4. Assigned direct materials and direct labor to jobs as follows.

Job No.
Direct Materials
Direct Labor
50 $12,900 $6,450
51 50,310 32,250
52 38,700 25,800

find out the predetermined overhead rate for 2012, assuming Deglman Manufacturing estimates total manufacturing overhead costs of $1,264,200, direct labor costs of $903,000, and direct labor hours of 25,800 for the year.
Predetermined overhead rate in percent?

 

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M939929

Have any Question? 


Related Questions in Accounting Basics

Accounting principles assignment-q1 smith catering service

Accounting Principles Assignment- Q1. Smith Catering Service completed the following transactions during its first month of operations for July 2016: a. Smith Catering Service commenced operations by receiving $12000 cas ...

Test 1 write the word correct if the statement is true and

Test 1: Write the word CORRECT if the statement is true and the word WRONG if the statement is false. Print in CAPITAL letters why. 1. All partners, whether capitalist or industrialist, are to share on whatever partnersh ...

International accountingbased upon your three papers

International Accounting Based upon your three papers (Attached), the accounting standards paper and the company analysis paper, prepare a PowerPoint presentation of 10-15 slides in which you summarize what you have lear ...

1 many programming languages allow you to use to force an

1. Many programming languages allow you to use ____ to force an expression to evaluate first. A) a pound sign B) an asterisk C) parentheses D) quotation marks 2. At the beginning of any method, it is the programmer s res ...

1 tonys pizza has total sales of 786611 and costs of 524268

1. Tony's Pizza has total sales of $786,611 and costs of $524,268. Depreciation is $38,470 and the tax rate is 31 percent. The firm does not have any interest expense. What is the operating cash flow? 2. A company purcha ...

Assignment 1 - this assignment has 2 parts 1000 word theory

Assignment 1 - This assignment has 2 parts, 1000 word theory interpretation essay and a response to a practical application of the theory. The assignment must be typed, use Arial font, 12, to avoid plagiarism, make sure ...

Accounting information individual assignment- myob

Accounting Information Individual Assignment- MYOB Assignment 1. MYOB Assignment  uses the Case and the  Data of the  Wendy Pabst & Brian Perrin (2011), Accounting With MYOB 19, 1st Edition, Cengage Learning, Australia. ...

Nbspexplain brieflya written representationsb internal

Explain briefly (a) written representations, (b) internal control communications, and (c) management letters. In your answer, include the general content of the communication, the parties involved with the communication, ...

Assume the demand for a companys drug wozac during the

Assume the demand for a company's drug Wozac during the current year is 50,000, and assume demand will grow at 5% a year. If the company builds a plant that can produce x units of Wozac per year, it will cost $16x. Each ...

During the month a company started 300000 units of product

During the month a company started 300,000 units of product in a particular manufacturing process. The beginning work in process inventory was 50,000 units, and the ending inventory was 40,000 units. Direct materials are ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate