Beltran Corporation produces wooden and aluminum baseball bats. In preparing the current budget, Beltran’s management estimated a total of $1,050,000 in manufacturing overhead costs and 15,000 machine hours for the coming year. In December, Beltran’s accountants reported actual manufacturing overhead incurred of $584,000 and 14,400 machine hours used during the year. Beltran applies overhead based on machine hours.

What was Beltran’s predetermined overhead rate for the year?

How much manufacturing overhead did Beltran apply during the year?

Instructions are listed below.

Explanation:

Giving the following information:

Beltran’s management estimated a total of $1,050,000 in manufacturing overhead costs and 15,000 machine hours for the coming year.

Actual machine hours= 14,400

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 1,050,000/15,000= $70 per machine hour

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 70*14,400= $1,008,000

both are integral parts of a corporate balance sheet. the cash flow statement, or statement of cash flows, measures the sources of a company's cash and its uses of cash over a specific time period. the income statement measures a company's financial performance, such as revenues, expenses, profits or losses over a specific time period (in fact, it's sometimes called a statement of financial performance).

a cash flow statement shows exactly how much money a company has received and how much it has spent, traditionally over a period of one month. it captures the current operating results and changes on the balance sheet, such as increases or decreases in accounts receivable or accounts payable, and does not include noncash accounting items such as depreciation and amortization. the cash flow generally comes from revenue received as a result of business activity, but it may be augmented by funds available as a result of credit. a cash flow statement is used to determine the short-term viability and liquidity of a company, specifically how well it is positioned to pay its bills and vendors.

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