acc 561 wileyplus week 4 assignment exercise 15 5 exercise 494901

Exercise 15-5??????Duggan Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $353,920 for the year, and machine usage is estimated at 126,400 hours.?For the year, $368,283 of overhead costs are incurred and 130,100 hours are used. (a)??????Compute the manufacturing overhead rate for the year. (Round answers to 2 decimal places, e.g. 1.25.) ? Manufacturing overhead rate??$ ??????????_________per machine hour?? (b) What is the amount of under or over-applied overhead at December 31? (c) Prepare the adjusting entry to assign the under or over-applied overhead for the year to cost of goods sold. Exercise 16-3 The ledger of Custer Company has the following work in process account. Work in Process—Painting 5/1 Balance 4,170 5/31 Materials 7,190 5/31 Labor 3,510 5/31 Overhead 2,210 ?5/31 Transferred out ???5/31 Balance ? ??? Production records show that there were 500 units in the beginning inventory, 30% complete, 1,460 units started, and 1,450 units transferred out. The beginning work in process had materials cost of $2,480 and conversion costs of $1,690. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. Instructions (a) How many units are in process at May 31? (a) (b) What is the unit materials cost for May? (c) What is the unit conversion cost for May? (b) & (c) (d) What is the total cost of units transferred out in May? (e) What is the cost of the May 31 inventory? Exercise 17-1 Wilkins Inc. has two types of handbags: standard and custom. The controller has decided to use a plantwide overhead rate based on direct labor costs. The president has heard of…