The Quadrangle Fabrication Plant suffered a fire incident at the beginning of the year, which resulted in the loss of property including the accounting records. Some data for the year were retrieved, and extracts from it are shown below: Total manufacturing overhead costs estimated at the beginning of the year$102,940Total direct labor costs estimated at the beginning of the year$184,000Total direct labor hours estimated at the beginning of the year3,300 direct labor hoursActual manufacturing overhead costs for the year$98,770Actual direct labor costs for the year$150,000Actual direct labor hours for the year2,500 direct labor hours The company's manufacturing overhead allocation is based on direct labor hours. How much manufacturing overhead was allocated to production during the year? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)Question content area bottomPart 1A.$135,881 B.$184,000 C.$102,940 D.$77,975

Answered: The Quadrangle Fabrication Plant…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 12PB: The following data summarize the operations during the year. Prepare a journal entry for each...

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The Quadrangle Fabrication Plant suffered a fire incident at the beginning of the year, which resulted in the loss of property including the accounting records. Some data for the year were retrieved, and extracts from it are shown below:

Total manufacturing overhead costs estimated at the beginning of the year	$102,940
Total direct labor costs estimated at the beginning of the year	$184,000
Total direct labor hours estimated at the beginning of the year	3,300 direct labor hours
Actual manufacturing overhead costs for the year	$98,770
Actual direct labor costs for the year	$150,000
Actual direct labor hours for the year	2,500 direct labor hours

The company's manufacturing overhead allocation is based on direct labor hours. How much manufacturing overhead was allocated to production during the year? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)

Question content area bottom

Part 1

$135,881

$184,000

$102,940

$77,975

Expert Solution

Step 1

A predetermined overhead rate forms the basis for the allocation of the actual manufacturing overhead incurred in the production process of goods and services. This rate is helpful in allocating the manufacturing overhead incurred to different products.

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