ACC 561 Week 4 Wiley Plus Assignment - UOP Work - 75399

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ACC 561 Wiley Plus Week 4

SOLUTION GUIDE -  CHANGE NUMBERS AND GET ANSWERS

Exercise 15-5
 

Duggan Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $353,920 for the year, and machine usage is estimated at 126,400 hours.
For the year, $368,283 of overhead costs are incurred and 130,100 hours are used.

 

(a)

 

 

Compute the manufacturing overhead rate for the year. (Round answers to 2 decimal places, e.g. 1.25.)


 

Manufacturing overhead rate
 

$

   

   


 

_________per machine hour

 (b) What is the amount of under or over-applied overhead at December 31?

(c) Prepare the adjusting entry to assign the under or over-applied overhead for the year to cost of goods sold.

Exercise 16-3

The ledger of Custer Company has the following work in process account.

 

                                        &nbs