Tutorial on Topic 4 Template

# Tutorial on Topic 4 Template - Tutorial on Topic 4 Week...

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Tutorial on Topic 4 Week commencing - 19/3/2007 4-17 (1) Actual OH rate under Actual costing system: = Actual Manufacturing OH = \$ . Actual DL cost \$ = \$____ per DL dollar, (or 190%) Budgeted OH rate under Normal costing system: = Budgeted Manufacturing OH = \$___________ Budgeted DL cost \$ = \$_____ per DL dollar, (or 175%) (2) Job #626 Actual Costing Normal Costing DM \$ \$ DL OH Total Manufacturing costs of Job #626 \$ \$ OH Applied under actual costing: \$__________ x \$_____ = \$_________ OH Applied under normal costing: \$__________ x \$_____ = \$__________ (3) Actual OH = \$___________ Applied OH = \$___________ (_____x \$___________) Under applied \$ The amount of under/over applied overhead is the difference between the amount of overhead actually incurred, and the amount charged to jobs (and taken through the accounts into WIP, FG and COGS). Under actual costing, the amount charged to the jobs and taken through the accounts is the actual overhead, thus there can be no difference. 1

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4-24 2. DEBIT CREDIT (1) MATERIALS ACCOUNTS PAYABLE (2) WIP MATERIALS (3) OH CONTROL MATERIALS (4) WIP (5) OH CONTROL (6) OH CONTROL ACCUMULATED DEPRECIATION – (7) OH CONTROL VARIOUS CREDITS In a real situation you would record the appropriate credit entries because you would
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## This note was uploaded on 07/07/2009 for the course ACCT 2102 taught by Professor Unknown during the Three '08 term at Queensland.

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Tutorial on Topic 4 Template - Tutorial on Topic 4 Week...

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