Costs of Production Problem Set
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Problem 18n
Elliott Company estimated that costs of production for the coming year would be
Raw materials. $ 75,000
Direct labor
90,000
Production overhead 135,000
Required:
a. Calculate the overhead rate for the next year, assuming that it is based
on direct
labor dollars.
b. Journalize the entry necessary to show the total cost of production for the month
of
May if the raw materials put into production totaled $6,000 and direct labor
was
$6,600.
c. If actual production overhead costs incurred in May were $9,550,
calculate the
overabsorbed overhead for the month.
Purchase answer to see full
attachment
Elliott Company estimated that costs of production for the coming year would be
Raw materials. $ 75,000
Direct labor
90,000
Production overhead 135,000
Required:
a. Calculate the overhead rate for the next year, assuming that it is based
on direct
labor dollars.
b. Journalize the entry necessary to show the total cost of production for the month
of
May if the raw materials put into production totaled $6,000 and direct labor
was
$6,600.
c. If actual production overhead costs incurred in May were $9,550,
calculate the
overabsorbed overhead for the month.
Purchase answer to see full
attachment
Explanation & Answer:
4 Problems
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