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Author Question: Innovative Metal Products Company manufactures pipes and applies manufacturing costs to production ... (Read 126 times)

APUS57

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Innovative Metal Products Company manufactures pipes and applies manufacturing costs to production at a budgeted indirect-cost rate of $12 per direct labor-hour. The following data are obtained from the accounting records for June 2018:

Direct materials$400,000
Direct labor (16,000 hours @ $11/hour)$ 240,000
Indirect labor$ 25,000
Plant facility rent$ 100,000
Depreciation on plant machinery and equipment$ 42,000
Sales commissions$ 30,000
Administrative expenses$ 40,000

Required:
a.What actual amount of manufacturing overhead costs was incurred during June 2018?
b.What amount of manufacturing overhead was allocated to all jobs during June 2018?
c.For June 2018, was manufacturing overhead underallocated or overallocated? Explain. 


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Marked as best answer by APUS57 on Mar 6, 2021

vish98

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APUS57

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Reply 2 on: Mar 6, 2021
YES! Correct, THANKS for helping me on my review


debra928

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Reply 3 on: Yesterday
Wow, this really help

 

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