Smith Foundry in Columbus, Ohio, uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the beginning of the year, the company expected to incur the following: Manufacturing overhead costs$ 630,000 Direct labor cost$1,650,000 Machine hours90,000 At the end of the year, the company had actually incurred the following: Direct labor cost $1,230,000 Depreciation on manufacturing plant and equipment 480,000 Property taxes on plant 19,500 Sales salaries $ 26,500 Delivery drivers' wages 17,000 Plant janitors' wages 8,000Machine hours 56,500 hours How much manufacturing overhead was allocated to jobs during the year?

Allocated MOH= $395,500

Explanation:

Giving the following information:

Smith Foundry in Columbus, Ohio, uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required.

Manufacturing overhead costs$ 630,000; Machine hours90,000

Actual machine hours:

Machine hours 56,500

First, we need to calculate the predetermined overhead rate:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 630,000/90,000= $7 per machine hour

Now, we can allocate overhead based on actual machine hours:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 7*56,500= $395,500

match the scenarios with terms related to financial aid.

pell grant

student loan

merit-based scholarship

richard is one of the leading college basketball players in the state of florida. he also maintains a good academic record. looking at his talent and potential, furman university offers to bear the expenses for his college education.

arrowright

anita wants to pursue a certificate program in sports nutrition. to pay for the course, she borrows money by filing the fafsa.

arrowright

nathan comes from a low-income household. he wants to pursue an undergraduate degree in marketing. he receives financial aid covering 50 percent of his college expenses. nathan does not have to pay back this amount.

arrowright