Kingsway Company had the following information available for the past quarter: Budgeted factory overhead costs...
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Accounting
Kingsway Company had the following information available for the past quarter:
Budgeted factory overhead costs $75,000
Actual factory overhead costs $80,000
Budgeted direct labor hours 20,000
Actual direct labor hours 21,000
Assume the cost driver for factory overhead costs is direct labor hours and a job uses 2,000 direct labor hours. The job was budgeted to use 2,100 direct labor hours. What amount of factory overhead is applied to the job?
A) $7,140
B) $7,500
C) $7,875
D) $8,000
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