SmartBook D ACC 2013 Chapter 2 HW Fairfield company applies manufacturing overhe

Question

SmartBook D ACC 2013 Chapter 2 HW Fairfield company applies manufacturing overhead to products at a predetermined rate of $48 per direct labor hour. Its actual manufacturing costs for the most recent period are summarized here Used on Jobs 101 and 102 Used on multiple jobs 750 hours e $28 per hour 200 hours for Job 101 300 hours sor Job 102 250 hours for Job 103 Direct materials Indirect materials Hourly labor wages 29,000 5,600 Factory supervision Production engineer Factory janitorial work Seling, general, and administrative salaries Other manufacturing overhead costs (factory rent, insurance, depreciation, etc.) 7000 21,000 3.800 7800 2300 8800 7.300 Other selling. general, and administrative costs (office rent, insurance, depreciation, etc) 5,800 1. Post the preceding information to Fairfield Company's Manufacturing Overhead T-account 4 0

Explanation / Answer

1) ANS

? Manufacturing overhead

Note:

2)under applied manufacturing overhead

Actual 29000 applied 36000    3800    (750hr*48) manufacturing 7800 mfacturing    2300 over head cost 7300 over head cost ?Balance 14200

Note:

• ?applied overhead debited to workin progerss account
• ?indirect material credited to raw material control account
• payments for factory supervison,production engineer,janitorial work,other moh cost credited to cash&depreciation account.

2)under applied manufacturing overhead

manufacturing ?overhead --------- 14200

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