factory overhead and (2) underapplied factory overhead? 1.) Overapplied factory overhead means the applied exceeds the actual costs incurred‚ the factory overhead account will have a credit balance. 2.) Underapplied factory overhead means the amount applied is less than the actual costs incurred‚ the account will have a debit balance. b. If the factory overhead account has a debit balance‚ was factory overhead underapplied or overapplied? Underapplied. c. If the factory overhead account
Premium Economics Cost Costs
over applied overheads it is essential that the process for job-costing is understood. The basic flow of costs in a job-order system begins by recording the costs of material‚ labor‚ and manufacturing overhead. "The use of absorption costing to provide quotes for jobs takes account of both fixed and variable costs. (1) Material and direct labor costs are debited to the ’Work in Process’ inventory. Any indirect material or indirect labor costs are debited to the Manufacturing Overhead inventory‚ (which
Premium Inventory Cost Costs
CHAPTER 3 Predetermined Overhead Rates‚ Flexible Budgets‚ and Absorption/Variable Costing Questions 1. Although both variable and mixed costs change in total with activity measure changes‚ the difference is that variable costs change in direct proportion to such activity changes and mixed costs do not. Since a mixed cost has both a fixed and variable component‚ the cost per unit at different activity levels is not constant as it is with a variable cost. 2. No‚ these are not always the best points
Premium Variable cost Costs Fixed cost
To: Patrick Oray Company: Plastic Composites Inc. From: Jane Doe Date: March 1‚ 2012 RE: Allocation Options for Fixed Manufacturing Overhead Costs Dear Mr. Oray‚ After researching the different methods allowed for you to use in allocating the fixed manufacturing costs to the work in process and finished goods I have come to the conclusion that normal capacity is the best method for your business. First I will define theoretical‚ practical and normal capacity and then I will explain to
Premium
Departmental Overhead Rates; Underapplied or Overapplied Overhead 1. a. Predetermined Overhead rate= Estimated total manufacturing overhead costs Estimated total amount of allocation base | = $1‚440‚000 = 160% of direct labor costs $900‚000 direct labor costs | b. Hastings Job Direct Labor -Allocation Base × Plantwide Overhead Rate
Premium Cost Costs Price
Ethics; Predetermined Overhead Rate and Capacity Pat Miranda‚ the new controller of Vault Hard Drives‚ Inc.‚ has just returned from a seminar on the choice of the activity level in the predetermined overhead rate. Even though the subject did not sound exciting at first‚ she found that there were some important ideas presented that should get a hearing at her company. After returning from the seminar‚ she arranged a meeting with the production manager‚ J. Stevens‚ and the assistant production manager
Premium Revenue Net income Gross profit
In this essay where I am going to discuss the similaritys and differences between two poems. "Woman Work" written by Maya Angelou‚ which is about a woman who works all the time and just wants to rest. The second poem is called "overheard in County Sigo" written by Gillian Clarke which is about a married woman having a conversation with her friend about her life and looking back at what her ambitions were. <br> <br>"Woman Work" is a regular 5 stanza‚ rhyming poem‚ It is set in southern USA. We know
Premium Poetry Maya Angelou Rhyme
The fixed overheads of Adorable Pawz are rental‚ salaries‚ loan‚ utilities and insurance. Total fix fixed overheads are RM18167 each month. The variable overheads are around RM2575 each month‚ its depend on the price offer by suppliers and volume of service provided. From the figure 1‚ revenue per month is estimated as RM15375. Figure 1: Estimated Revenue per month 7.1 Break-even Analysis Figure 2: Break-even Analysis Based on the break-even analysis‚ we have to serve 160 customers in order
Premium Management Project management Competitor analysis
CHAPTER 8 FLEXIBLE BUDGETS‚ OVERHEAD COST VARIANCES‚ AND MANAGEMENT CONTROL 8-16 (20 min.) Variable manufacturing overhead‚ variance analysis. 1. Variable Manufacturing Overhead Variance Analysis for Esquire Clothing for June 2009 | | |Flexible Budget: |Allocated: | |Actual Costs Incurred | |Budgeted Input Qty. |Budgeted Input Qty.
Premium Variable cost Costs Variance
Mirrors - Inside the lens‚ which is the large and moveable piece at the top of the overhead projector‚ there are two mirrors. The mirrors work together to reflect light and project an image onto a screen. The first mirror captures the light from the base of the projector; this is the flat surface where you place the transparencies. The first mirror reflects that light to the second mirror‚ which then reflects it through a magnifying lens for large projection onto the screen. Light - The projector
Premium