WileyPLUS Weygandt, Financial& Managerial Accounting, 2e BACK Ikerd Company year

Question

WileyPLUS Weygandt, Financial& Managerial Accounting, 2e BACK Ikerd Company year, and machine usage is estimated at 126,100 hours applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $292,552 for the For the year, $399,060 of everhead costs are incurred and 130, 500 hours are used (a) Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, a.g. 1.2s.) Manufacturing overhead rate s per machine hour Attemptsi of 3 used save roa LATER (b) of this question

Explanation / Answer

a) Manufacturing overhead rate 292,552/126,100 2.32 per machine hour Lopez company cost of goods manufactured Schedule Beginning work in process 17,200 Direct materials 63,600 direct labor 51,800 manufacturing overhead 43,100 total manufacturing cost 158,500 total manufacturing cost & WIP 175,700 less:ending Work in process 18,600 cost of goods manufactured 157,100

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