A manufacturing company provided the following data: Estimated Costs for Year 1: Direct labor $...
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Accounting
A manufacturing company provided the following data: Estimated Costs for Year 1: Direct labor $ 31,000 Bonuses paid to factory supervisors Interest expense Indirect labor Direct materials $ 9,000 $ 32,000 Depreciation on manufacturing equipment $ 18,000 $ 11,000 $ 36,000 Factory utilities $ 26,000 $ 14,000 Indirect materials Property taxes on the corporate office building $ 18,000 Direct labor hours were 40,000. Actual Data for Year 1: Total manufacturing overhead Direct labor hours $120,000 60,000 The predetermined manufacturing overhead rate is based on direct labor hours. What is the amount of overapplied or underapplied overhead for the company for Year 1
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