1. a. Materials and Supplies... 690,000
Accounts Payable ... 690,000
b. Films in Process ... 560,000
Production Overhead... 140,000
Materials and Supplies... 700,000
c. Production Overhead... 90,000
Accounts Payable ... 90,000
d. Films in Process ... 1,300,000
Production Overhead... 230,000
Salaries Expense ... 650,000
Salaries and Wages Payable... 2,180,000
e. Advertising Expense ... 800,000
Accounts Payable ... 800,000
f. Production Overhead... 60,000
Insurance Expense... 10,000
Prepaid Insurance ... 70,000
g. Production Overhead... 520,000
Depreciation Expense ... 130,000
Accumulated Depreciation ... 650,000
h. Production Overhead... 360,000
Rent Expense ... 40,000
Accounts Payable ... 400,000
i. The company’s predetermined overhead rate would be:
Estimated total manufacturing overhead cost
Predetermined = overhead rate Estimated total amount of the allocation base
$1,350,000 $90 per
= 15,000 camera-hours = camera-hour.
The overhead cost applied to production would be:
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