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Anonymous

Oct 31, 2024

The following data pertain to the Oneida Restaurant Supply Company for the year just ended. Budgeted sales revenue $205,000 Actual

The following data pertains to the Oneida Restaurant Supply Company for the most recently completed fiscal year:

  • Budgeted Sales Revenue: $205,000
  • Actual Manufacturing Overhead: $336,000
  • Budgeted Machine Hours (based on practical capacity): 8,000
  • Budgeted Direct-Labor Hours (based on practical capacity): 20,000
  • Budgeted Direct-Labor Rate: $13 per hour
  • Budgeted Manufacturing Overhead: $364,000
  • Actual Machine Hours: 11,000
  • Actual Direct-Labor Hours: 18,000
  • Actual Direct-Labor Rate: $17 per hour

Required:

Prepare a journal entry to add the total manufacturing overhead cost to work-in-process inventory for the year, considering the following scenarios:

  1. The firm uses actual costing.
  2. The firm uses normal costing, with a predetermined overhead rate based on machine hours.
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4 Answers

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Anonymous

Jan 09, 2025

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