Larned Corporation recorded the following transactions for the just completed month. a. $80,000 in raw...
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Larned Corporation recorded the following transactions for the just completed month. a. $80,000 in raw materials were purchased on account. b. $71,000 in raw materials were requisitioned for use in production. Of this amount, $62,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $112,000 were incurred. Of this amount, $101,000 was for direct labor and the remainder was for indirect labor. d. Additional manufacturing overhead costs of $175,000 were incurred. Required: Record the above transactions in journal entries Luthan Company uses a predetermined overhead rate of $23.40 per direct labor-hour. This prede- termined rate was based on 11,000 estimated direct labor-hours and $257,400 of estimated total manufacturing overhead. The company incurred actual total manufacturing overhead costs of $249,000 and 10,800 total direct labor-hours during the period. Required: Determine the amount of manufacturing overhead that would have been applied to units of product during the period.
Larned Corporation recorded the following transactions for the just completed month.
a. $80,000 in raw materials were purchased on account.
b. $71,000 in raw materials were requisitioned for use in production. Of this amount, $62,000
was for direct materials and the remainder was for indirect materials.
c. Total labor wages of $112,000 were incurred. Of this amount, $101,000 was for direct labor
and the remainder was for indirect labor.
d. Additional manufacturing overhead costs of $175,000 were incurred.
Required:
Record the above transactions in journal entries
Luthan Company uses a predetermined overhead rate of $23.40 per direct labor-hour. This prede- termined rate was based on 11,000 estimated direct labor-hours and $257,400 of estimated total manufacturing overhead.
The company incurred actual total manufacturing overhead costs of $249,000 and 10,800 total direct labor-hours during the period.
Required:
Determine the amount of manufacturing overhead that would have been applied to units of product during the period.
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