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During 2022, Sheridan Company incurred the following direct labor costs: January $18,400 and...

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Accounting

During 2022, Sheridan Company incurred the following direct labor costs: January $18,400 and February $27,600. Sheridan uses a predetermined overhead rate of 120% of direct labor cost. Estimated overhead for the 2 months, respectively, totaled $17,940 and $32,844. Actual overhead for the 2 months, respectively, totaled $23,000 and $30,820.
Calculate overhead applied.
January
February
Determine if overhead is over- or underapplied for each of the two months and the respective amounts.
January
February
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