Actual manufacturing overhead: Property taxes Indirect labor Supervisory salaries Utilities Insurance Rental of space Indirect material (see data below) Indirect material: beginning inventory, January 1 Purchases during the year Ending Inventory, December 31 $231,000 200,000 59,00 79,000 48,000 94,000 63,000 Required: 1. Compute the firm's predetermined overhead rate, which is based on direct-labor hours (Round your answer to 2 decimal places) 2) calculate the overapplied or underapplied overheadfor the year. 3) Prepare a journal entry to close out the Manufacturing overhead account into cost of Goods sold.

Actual manufacturing overhead: Property taxes Indirect labor Supervisory salaries Utilities Insurance Rental of space Indirect material (see data below) Indirect material: beginning inventory, January 1 Purchases during the year Ending Inventory, December 31 $231,000 200,000 59,00 79,000 48,000 94,000 63,000 Required: 1. Compute the firm's predetermined overhead rate, which is based on direct-labor hours (Round your answer to 2 decimal places) 2) calculate the overapplied or underapplied overheadfor the year. 3) Prepare a journal entry to close out the Manufacturing overhead account into cost of Goods sold.

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Description: Please help me with required 1 and required 2 and required 3 I will give upvote thanku Required information[The following information applies to the questions displayed below.]The following information pertains to Trenton Glass Works for the year jus

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...

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The following information pertains to Trenton Glass Works for the year just ended.Budgeted direct-labor cost: 75,000 hours (practical capacity) at $16 per hourActual direct-labor cost: 80,000 hours at $17.50 per hourBudgeted manufacturing overhead: $997,500Actual selling and administrative expenses: 435,000Actual manufacturing overhead:Depreciation ................................................................................................ $231,000Property taxes ............................................................................................. 21,000Indirect labor ............................................................................................... 82,000Supervisory salaries .................................................................................... 200,000Utilities........................................................................................................ 59,000Insurance…
The following information pertains to Trenton Glass Works for the year just ended. Budgeted direct-labor cost: 75,000 hours (practical capacity) at $16 per hourActual direct-labor cost: 80,000 hours at $17.50 per hourBudgeted manufacturing overhead: $997,500Actual selling and administrative expenses: 435,000Actual manufacturing overhead:Depreciation ..................................................................................................$231,000Property taxes ...................................................................................................21,000Indirect labor .....................................................................................................82,000Supervisory salaries ...................................................................................... 200,000Utilities ...................................................................................................................59,000Insurance…
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Required information [The following information applies to the questions displayed below.] Selected data concerning the past year's operations of the Ozarks Manufacturing Company are as follows: Raw material Work in process Finished goods Inventories Beginning $ 61,000 80,000 90,000 Ending $ 81,000 30,000 110,000 Other data: Direct material used Total manufacturing costs charged to production during the year (includes direct material, direct labor, and manufacturing overhead applied at a rate of 60% of direct-labor cost) Cost of goods available for sale Selling and administrative expenses $334,000 686, 000 826,000 31,000 Required: 1. What was the cost of raw materials purchased during the year? Cost of raw materials purchased
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