Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. e2-16 calculating actual and applied manufacturing

E2-16 Calculating Actual and Applied Manufacturing Overhead Costs and Over- or Underapplied Overhead Costs [LO...

90.2K

Verified Solution

Question

Accounting

image

E2-16 Calculating Actual and Applied Manufacturing Overhead Costs and Over- or Underapplied Overhead Costs [LO 2-3, 2-4, 2-5, 2-6] Verizox Company uses a job order cost systern with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $178,360. Estimated direct labor cost was $451,360 for 18,200 hours. Actual costs for the most recent month are summarized here: Direct labor (1,820 hours) Indirect costs 545,137 Indirect labor Indirect materials Factory rent Factory supervision Factory depreciation Factory janitorial work Factory insurance General and administrative salaries Selling expenses 2,450 3,350 3,290 4,760 5,670 1,160 1,710 4,120 5,310 Required: 1. Calculate the predetermined overhead rate. (Round your answer to 2 decimal places.) Overhead Rate Per DL Hour 2. Calculate the amount of applied manufacturing overhead. Manufact 3. Calculate actual manufacturing overhead costs. l Ma 4. Compute over- or underapplied overhead. (Input the amount as positive value.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students