Oriole Corporation accumulates the following data relative to jobs started and finished during the month of June 2022. Costs and Production Data Raw materials unit cost Raw materials units Direct labor payroll Direct labor hours Manufacturing overhead incurred Manufacturing overhead applied Machine hours expected to be used at normal capacity Budgeted fixed overhead for June Variable overhead rate per machine hour Fixed overhead rate per machine hour Actual $4.10 11,400 $165,000 15,000 $192.130 Standard $4.00 11.000 $160,650 15,300 $192,780 44,340 $75,378 $2.80 $1.70 Overhead is applied on the basis of standard machine hours. 2.80 hours of machine time are required for each direct labor hour. The jobs were sold for $462.000. Selling and administrative expenses were $41.200. Assume that the amount of raw materials purchase equaled the amount used.

Oriole Corporation accumulates the following data relative to jobs started and finished during the month of June 2022. Costs and Production Data Raw materials unit cost Raw materials units Direct labor payroll Direct labor hours Manufacturing overhead incurred Manufacturing overhead applied Machine hours expected to be used at normal capacity Budgeted fixed overhead for June Variable overhead rate per machine hour Fixed overhead rate per machine hour Actual $4.10 11,400 $165,000 15,000 $192.130 Standard $4.00 11.000 $160,650 15,300 $192,780 44,340 $75,378 $2.80 $1.70 Overhead is applied on the basis of standard machine hours. 2.80 hours of machine time are required for each direct labor hour. The jobs were sold for $462.000. Selling and administrative expenses were $41.200. Assume that the amount of raw materials purchase equaled the amount used.

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Description: Please do not give solution in image format thanku Oriole Corporation accumulates the following data relative to jobs started and finished during the month of June 2022.Costs and Production DataRaw materials unit costRaw materials unitsDirect labor p

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 11PB: When setting its predetermined overhead application rate. Tasty Turtle estimated its overhead would...

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A company estimates its manufacturing overhead will be $750,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? Budgeted direct labor hours: 60,000 Budgeted direct labor expense: $1,500,000 Estimated machine hours: 100,000
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