Candy plans on using normal costing. She allocates manufacturing overhead costs using a budgeted rate...
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Accounting
Candy plans on using normal costing. She allocates manufacturing overhead costs using a budgeted rate per labor-hour. The following are estimates for the period:
Budgeted Manufacturing Overhead Costs$98,020
Budgeted Labor Hours6,480
Actual Manufacturing Overhead Costs$95,000
Actual Labor Hours6,400
Required:
1. Calculate the budgeted manufacturing overhead rate.
2.Calculate the manufacturing overhead allocated for the period.
3.Calculate the amount of under-or overallocated manufacturing overhead. Why does Candy need to calculate this amount?
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