Scribd Logo
Upload

Welcome to Scribd!

  • Data Input Jake's Autobody: Hours Per Hour

    Uploaded by

    Austin Reevu
    27 views4 pages
    Jake's Autobody budgeted $240,000 in direct labor costs at $12 per hour but actual costs were $220,500 at $12.25 per hour. They budgeted $140,000 in manufacturing overhead at a rate of $7 per direct labor hour but actual overhead was $150,000. The variance analysis showed $24,000 of underapplied overhead that was cleared to cost of goods sold.

    Original Description:

    Original Title

    3-3B WS 200916

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Jake's Autobody budgeted $240,000 in direct labor costs at $12 per hour but actual costs were $220,500 at $12.25 per hour. They budgeted $140,000 in manufacturing overhead at a rate of $7 per direct labor hour but actual overhead was $150,000. The variance analysis showed $24,000 of underapplied overhead that was cleared to cost of goods sold.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    27 views4 pages

    Data Input Jake's Autobody: Hours Per Hour

    Uploaded by

    Austin Reevu
    Jake's Autobody budgeted $240,000 in direct labor costs at $12 per hour but actual costs were $220,500 at $12.25 per hour. They budgeted $140,000 in manufacturing overhead at a rate of $7 per direct labor hour but actual overhead was $150,000. The variance analysis showed $24,000 of underapplied overhead that was cleared to cost of goods sold.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 4

    DATA INPUT COST DRIVER IS: DLH

    Jake's Autobody hours per hour


    Budgeted direct-labour cost: 20,000 $ 12.00 $ 240,000
    Actual direct-labour cost: 18,000 $ 12.25 $ 220,500
    Budgeted manufacturing overhead: $ 140,000 $ 7.00 / DLH

    Actual manufacturing overhead: $ 150,000

    1. Predetermined overhead rate $ 7.00 per hour

    MOH Expense
    OB (Opening (Beginning) Bal) $0 Apply MOH
    Actual 150,000 18,000 $ 7.00 $ (126,000)
    DLH $/DLH rate

    Underapplied $ 24,000 $ (24,000)

    CB (Closing (Ending) Bal) $0

    12/31/xx DR COGS $ 24,000


    CR MOH expense $ (24,000)
    Desc: Clear underallocated MOH to COGS
    WIP
    <- Aplied
    MOH Expense
    OB (Opening (Beginning) Bal) $0 Apply MOH
    Actual 650,000 170,000 $ 4.00
    DLH $/DLH rate

    $ 30,000 Overapplied

    CB (Closing (Ending) Bal) $0

    12/31/xx CR MOH expense $ 30,000


    DR COGS $ (30,000)
    Desc: Clear underallocated MOH to COGS
    WIP
    $ (680,000) <- Applied
    (to WIP)

    $ (30,000)

    You might also like