3310solmod12

3310solmod12 - Module 12 Answers 6-25. (25 min.) Estimate...

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Module 12 Answers 6-25. (25 min.) Estimate Hours Worked From Overhead Data: Griffin Corp. 40,300 direct labor hours were worked. With $156,000 in fixed costs expected and 39,000 direct labor hours expected, the application rate for the fixed costs was $4.00 per direct labor hour. If the overapplied overhead, all due to production volume, is $5,200, then an extra 1,300 direct labor hours were worked ($5,200 ÷ $4 per hour). Consequently, 40,300 (= 39,000 + 1,300) direct labor hours were worked. Also, see T accounts below: Manufacturing Overhead Manufacturing Overhead Applied 156,000 (given as actual = expected) 161,200 (= $4 x Actual hours worked) From these accounts, we solve for actual hours worked: Actual hours worked = $161,200 ÷ $4 = 40,300 hours worked. 6-26. (40 min.) Assigning Costs—Missing Data. (a) $100,000, the other side of the credit to the Accounts Payable—Materials Suppliers account. (b) $94,000, From the Materials Inventory account,
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This note was uploaded on 11/13/2008 for the course ACCT 305 taught by Professor Franz during the Spring '07 term at S.F. State.

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3310solmod12 - Module 12 Answers 6-25. (25 min.) Estimate...

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