ACC 560 Week 2 Homework Chapter 2 and Chapter 3 ( E2- 5 , E2-7 , E2-13 , P2-4A , E3-3 , E3-7 , E3-8 , E3-2A )
ACC 560 Week 2 Homework Chapter 2 and Chapter 3 ( E2- 5 , E2-7 , E2-13 , P2-4A , E3-3 , E3-7 , E3-8 , E3-2A )
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ACC 560 Week 2 Homework Chapter 2 and Chapter 3 ( E2-5 , E2-7 , E2-13 , P2-4A , E3-3 , E3-7 , E3-8 , E3-2A )
Chapter 2 : Job Order Costing and Chapter 3 : Process Costing
E2-5
Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used . Overhead costs are expected to total $ 300,000 for the year , and machine usage is estimated at 125,000 hours . For the year , $ 322,000 of overhead costs are incurred and 130,000 hours are used . Instructions
( a ) Compute the manufacturing overhead rate for the year
( b ) What is the amount of under- or over applied overhead at December 31 ?
( c ) Prepare the adjusting entry to assign the under- or over applied overhead for the year to cost of goods sold .
E2-7 Crawford Corporation incurred the following transactions .