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Can someone Please Help me with a Accounting question?
I chose (9,900 underapplied) which was wrong and the way I came up with that answer is below...
"direct labor cost = 159,000 - 20,000 = 139,000, applied overhead = 139,000 x 150% = 208,500, 198,600 - 208,500 = 9,900 underapplied'' <--This is how I got my answer, but when I chose that one I was marked wrong. So I need help figuring out the correct answer and the steps to get it. Thank You This is the Question: Bard Manufacturing uses a job order cost accounting system. During one month Bard purchased $188,000 of raw materials on credit; issued materials to production of $215,000 of which $10,000 were indirect. Bard incurred a factory payroll of $159,000, paid in cash, of which $20,000 is classified as indirect labor. Bard uses a predetermined overhead application rate of 150% of direct labor cost. If Bard incurred total overhead costs of $198,600 during the month, compute the amount of under- or overapplied overhead: A)$9,900 overapplied. B)$39,600 overapplied. C)$9,900 underapplied. <---My pick was wrong. D)$39,600 underapplied. E)$39,900 overapplied. |
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