Question : 41. The formula for calculating the amount of overhead applied to : 1295566

 

 

41. The formula for calculating the amount of overhead applied to a product is: A. Predetermined overhead rate ´ Estimated units of cost driverB. Predetermined overhead rate ´ Actual overhead costsC. Predetermined overhead rate ´ Actual units of cost driverD. Predetermined overhead rate ´ Estimated overhead costs

 

42. Aronson & Associates LLP, an accounting firm, assigns overhead to clients based on direct labor hours. The following information is available for the month of March: 

 

Estimated direct labor hours ———

4,000 hours

 

Estimated overhead costs ————-

$8,000       

 

Actual direct labor hours ————-

4,200 hours

 

Actual overhead costs —————–

$8,190      

 

 

 

Refer to the Aronson & Associates LLP information above. The predetermined overhead rate for the month of March is: A. $2.00 per direct labor hourB. $  .50 per direct labor hourC. $1.95 per direct labor hourD. $1.90 per direct labor hour

 

43. Aronson & Associates LLP, an accounting firm, assigns overhead to clients based on direct labor hours. The following information is available for the month of March: 

 

Estimated direct labor hours ———

4,000 hours

 

Estimated overhead costs ————-

$8,000       

 

Actual direct labor hours ————-

4,200 hours

 

Actual overhead costs —————–

$8,190      

 

 

 

Refer to the Aronson & Associates LLP information above. The amount of applied overhead for March will be: A. $7,800B. $8,400C. $8,610D. $8,000

 

44. Aronson & Associates LLP, an accounting firm, assigns overhead to clients based on direct labor hours. The following information is available for the month of March: 

 

Estimated direct labor hours ———

4,000 hours

 

Estimated overhead costs ————-

$8,000       

 

Actual direct labor hours ————-

4,200 hours

 

Actual overhead costs —————–

$8,190      

 

 

 

Refer to the Aronson & Associates LLP information above. By how much was overhead over- or underapplied for the month of March? A. $210 overappliedB. $400 overappliedC. $190 underappliedD. $390 underapplied

 

45. Rolling Hills Construction Co. assigns overhead to specific jobs based on direct labor cost (dollars). The following information is available for the month of June: 

 

Estimated direct labor hours ———

2,000 hours

 

Estimated direct labor cost per hour–

$12/hour

 

Estimated overhead costs ————-

$3,000

 

Actual direct labor hours ————-

2,300 hours

 

Actual direct labor cost per hour —-

$13/hour

 

Actual overhead costs —————–

$3,300

 

 

 

Refer to the Rolling Hills Construction information above. The predetermined overhead rate for the month of June is: A. $.  125 per direct labor dollarB. $12.50 per direct labor dollarC. $  1.50 per direct labor dollarD. $  8.00 per direct labor dollar

 

46. Rolling Hills Construction Co. assigns overhead to specific jobs based on direct labor cost (dollars). The following information is available for the month of June: 

 

Estimated direct labor hours ———

2,000 hours

 

Estimated direct labor cost per hour–

$12/hour

 

Estimated overhead costs ————-

$3,000

 

Actual direct labor hours ————-

2,300 hours

 

Actual direct labor cost per hour —-

$13/hour

 

Actual overhead costs —————–

$3,300

 

 

 

Refer to the Rolling Hills Construction information above. The amount of overhead applied for June is: A. $3,450.00B. $3,000.00C. $3,737.50D. $5,900.00

 

47. Martin Manufacturing assigns overhead to jobs based on machine hours. At the beginning of the current year, estimated overhead costs were $200,000 and estimated machine hours were 40,000. During the year, 140 machine hours were used on Job #88. By the end of the year, actual overhead costs were calculated to be $202,500 and actual machine hours were 45,000.How much overhead was applied to Job #88 during the year? A. $630.00B. $708.75C. $622.22D. $700.00

 

48. Giles Inc. manufactures high quality golfing equipment. Giles assigns overhead to products based on machine hours. At the beginning of the current year, estimated overhead costs were $500,000 and estimated machine hours were 50,000. During the year, 54,000 machine hours were actually used. By the end of the year, actual overhead costs were calculated to be $529,200. Refer to the Giles Inc information above. What was the predetermined overhead rate? A. $10.00 per machine hourB. $    .10 per machine hourC. $  9.80 per machine hourD. $10.58 per machine hour

 

49. Giles Inc. manufactures high quality golfing equipment. Giles assigns overhead to products based on machine hours. At the beginning of the current year, estimated overhead costs were $500,000 and estimated machine hours were 50,000. During the year, 54,000 machine hours were actually used. By the end of the year, actual overhead costs were calculated to be $529,200. Refer to the Giles Inc information above. How much total overhead was applied to products during the year? A. $571,536B. $540,000C. $490,000D. $529,200

 

50. Giles Inc. manufactures high quality golfing equipment. Giles assigns overhead to products based on machine hours. At the beginning of the current year, estimated overhead costs were $500,000 and estimated machine hours were 50,000. During the year, 54,000 machine hours were actually used. By the end of the year, actual overhead costs were calculated to be $529,200. Refer to the Giles Inc information above. By how much was overhead over- or underapplied for the year? A. $39,200 underappliedB. $29,200 underappliedC. $10,800 overappliedD. $42,336 overapplied