Quiz 10 Answers(1)

Quiz 10 Answers(1) - total direct labor was 62,000 hours....

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Name ___________________________ USC ID# _________________________ Class (Circle) ___ 2PM or 4 PM_ _______ QUIZ 10 Logan Products computes its predetermined overhead rate annually on the basis of direct labor hours. At the beginning of the year, it estimated that 60,000 direct labor hours would be required for the year’s estimated level of production. The company also estimated $330,000 of fixed manufacturing overhead expenses for the year and variable manufacturing overhead of $4.00 per direct labor hour. Logan’s actual manufacturing overhead for the year was $600,000 and its actual
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: total direct labor was 62,000 hours. 1. Compute the companys POHR 4 pts 2. Compute the amount of overhead applied for the year 2 pts 3. Was overhead over or under applied? And by how much? 2 pts 4. Assume the company closes any under applied or over applied overhead directly to Cost of Goods Sold, prepare the appropriate closing entry. 2 pts No carryover credit, if they miss the POHR, they miss the rest of the quiz Total 10 pts Page 1 of 1...
View Full Document

This note was uploaded on 04/01/2012 for the course BUAD 280 taught by Professor Wan during the Fall '11 term at USC.

Ask a homework question - tutors are online