Business, 25.02.2021 18:50 jamesmarsdel

ABC Company listed the following data for 20XX: Budgeted factory overhead $ 1,044,000
Budgeted direct labor hours 72,000
Budgeted machine hours 24,000
Actual factory overhead 1,037,400
Actual direct labor hours 72,600
Actual machine hours 23,600
Assuming ABC Company applied overhead based on direct labor hours, the company's predetermined overhead rate is:
a. $ 43.50 per direct labor
b. $ 24.38 per direct labor
c. $ 44.24 per direct labor
d. $ 14.50 per direct labor
assuming ABC Company applied overhead based on machine hours, the company's predetermined overhead rate is:
a. $ 43.50
b. $ 14.38
c. $ 44.24
d. $ 14.50
Assuming ABC Company applied overhead based on direct labor hours, the overapplied / underapplied overhead is:
a. $ 15,300 underapplied
b. $ 15,300 overapplied
c. $ 10,800 underapplied
d. $ 10,800 overapplied
Assuming ABC Company applied overhead based on machine hours, the overapplied / underapplied overhead is:
a. $ 15,300 underapplied
b. $ 15,300 overapplied
c. $ 10,800 underapplied
d. $ 10,800 overapplied
Assuming ABC Company applied overhead based on direct labor hours, the journal entry to adjust overapplied / underapplied overhead would include a credit to:
a. work in process inventory
b. cost of goods sold
c. finished goods inventory
d. factory overhead control
Assuming ABC Company applied overhead based on machine hours, the journal entry to adjust overapplied / underapplied overhead would include a debit to:
a. work in process inventory
b. cost of goods sold
c. finished goods inventory
d. factory overhead control
Assuming ABC Company applied overhead based on direct labor hours, the journal entry's effect on income would:
a. reduce income to the correct amount
b. increase income to the correct amount
c. have no effect on income
d. understate revenue
Assuming ABC Company applied overhead based on machine hours, the journal entry would:
a. reduce income to the correct amount
b. increase income to the correct amount
c. have no effect on income
d. understate revenue

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 20:30

Which of the following statements is correct? a) one drawback of forming a corporation is that it generally subjects the firm to additional regulationsb) one drawback of forming a corporation is that it subjects the firms investors to increased personal liabilitiesc) one drawback of forming a corporation is that it makes it more difficult for the firm to raise capitald) one advantage of forming a corporation is that it subjects the firm's investors to fewer taxese) one disadvantage of forming a corporation is that it is more difficult for the firm's investors to transfer their ownership interests

Answers: 1

Answer

Business, 21.06.2019 22:30

Your project team’s recommendations to increase productivity have been approved and your team is now working on an implementation plan. in order to accomplish the plan, several subject matter experts from various parts of the organization have been brought in to assist. you have noticed friction and conflict among team members. some of the disagreement and opposition on your team supports the achievement of team goals and objectives. this type of conflict can be described as:

Answers: 1

Answer

Business, 21.06.2019 22:30

True or false: banks are required to make electronically deposited funds available on the same day of the deposit

Answers: 2

Answer

Business, 22.06.2019 14:40

Increases in output and increases in the inflation rate have been linked to

Answers: 2

Answer

You know the right answer?

ABC Company listed the following data for 20XX: Budgeted factory overhead $ 1,044,000
Budgete...