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USC / Business Administration / BUAD 281 / What is meant by manufacturing overhead?

What is meant by manufacturing overhead?

What is meant by manufacturing overhead?

Description

School: University of Southern California
Department: Business Administration
Course: Introduction to Managerial Accounting
Professor: Marshall vance
Term: Spring 2017
Tags: Accounting, business, costs, and Managerial Accounting Notes
Cost: 25
Name: BUAD 281, Class 5
Description: Solving problems and facing under-applied and over-applied manufacturing overhead.
Uploaded: 01/31/2017
1 Pages 166 Views 0 Unlocks
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We also discuss several other topics like biol3401

Manufacturing Overhead will start of with a balance of zero in every period.

E.gWe also discuss several other topics like What is use techniques based on chance selection?

        MOH                                 RM                           W/P                             FG

0

26,000

47,000

133,000

21,000

411,000

398,000

783,000

61,000

388,000

145,000

768,000

12,000

21,000

232,000

114,000

783,000

232,000

24,000

We also discuss several other topics like What is considered as a misuse of health services?

POHR = We also discuss several other topics like What does the Kirchhoffs Voltage Law state?

Overhead Applied = 8/MH x 29,000 = 232,000

What does it mean to have a credit balance in MOH?

  • You put too much into your work in process
  • A part of your estimation is wrong
  • You should not have a debit balance either
  • It should be zero balance
  • Means you applied more than you incurred
  • Need to get rid of the 24,000 credit

MOH 24,000If you want to learn more check out What is the Kutzbak criteria used for?

COGS 24,000We also discuss several other topics like What is used in a graphical method of solution?

Underapplied Overhead - amount of overhead applied to jobs during period using the predetermined overhead rate is less than the total amount of overhead actually incurred during the period (debit balance)

Overapplied Overhead - amount of overhead applied to jobs during the period using the predetermined overhead rate is greater than the total amount of overhead actually incurred during the period (credit balance)

E.g.  MOH

        1,210,000        |

                             | 1,160,000

        -----------------------------------

        50,000

COGS 50,000

MOH                50,000

B) 50,000 underapplied

In-Class Problem

POHR =

                        

        MOH                                 RM                           W/P                             FG

0

0

0

0

37,500

10,800

400,000

100,000

100,000

125,800

128,800

14,400

50,000

18,000

88,400

10,800

75,000

10,800

88,400

1500

175,000

50,000

88,400

128,800

24,000

14,400

75,000

18,000

10,800

103,800

1500 - underapplied                 COGS 1500

                                MOH                1500        

COGS

0

88,400

15,00

89,900

                Van 1                                Van 2                                    Van 3

DM

100,000

DM

50,000

DM

75,000

DL

18,000

DL

24,000

DL

18,000

MOH

10,800

MOH

14,400

MOH

10,800

TOTAL

128,800

TOTAL

88,400

TOTAL

103,800

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