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Compute the amount of underapplied or overapplied overhead cost for the year
Manufacturing overhead costs incurred:
Indirect materials $1,100 Indirect labor 9,900 Property taxes, factory 2,800 Utilities, factory 4,900 Depreciation, factory 23,900 Insurance, factory 5,900 Total actual manufacturing overhead costs incurred $48,500 Other costs incurred: Purchases of raw materials(both direct and indirect) $31,600 Direct labor cost $40,600 Inventories: Raw materials, beginning $9,000 Raw materials, ending $6,400 Work in process, beginning $5,500 Work in process, ending $6,900 -------------------------------------------------------------------------------- The company uses a predetermined overhead rate to apply overhead cost to production. The rate for the year was $5 per machine-hour. A total of 12,300 machine-hours was recorded for the year. |
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