Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the cavy company estimates that the factory overhe

The Cavy company estimates that the factory overhead for the following year will be $1,250,000....

60.1K

Verified Solution

Question

Accounting

The Cavy company estimates that the factory overhead for the following year will be $1,250,000. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 50,000 hours. The total machine hours for the year was 54,300. The actual factory overhead for the year was $1,348,800.

a) determine the total factory overhead amount applied.

b) calculate the over or under applied amount for the year

c) prepare the journal entry to close factory overhead into cost of goods sold

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Write the net ionic equation for the following reactions in solution. A) Solutions of lithium chromate and...

Chemistry
Q

Briefly discuss: (i) The operational principals and the main characteristics of photomultiplier tubes (PM). Why does...

Physics
Q

Indicate what considerations should be taken into account for a good design of an audio amplifier.

Electrical Engineering
Q

One way to demonstrate to a potential robber that Dollar General employees care about their...

Biology
Q

Which of the following can be considered an example of homology among the animal clade...

Biology
Q

33 Two point charges of magnitude 4 C 9 C are 0 5m apart The...

Physics
Q

In circle R with m QRS 150 find the angle measure of mi Ingwer m...

Geometry
Q

Determine the slope of the line that contains the given points.1. S(-1, 2). W(0, 4)2....

Basic Math
Q

Find parametric equations that describe the circular path of the following object Assume x y...

Calculus
Q

Simplify the expression 5 a h h 5 a Enter the numerator and denominator separately...

Algebra
Q

Problem B (7 points) Diamondback Corporation produces a product, ARIZONA. The following standard production costs...

Accounting
Q

Brown Company's bank statement for September 30 showed a cash balance of $1,350. The company's...

Accounting