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Munoz Company and Perez Company both apply overhead to the Work in Process Inventory account using direct labor hours. The following information is available for both companies for the year. Actual manufacturing overhead Actual direct labor hours Underapplied overhead Overapplied overhead Required A Munoz Company $ 175,500 25,000 $ 24,500 Required a. Compute the predetermined overhead rate for each company. b. Using T-accounts, record the entry to close the overapplied or underapplied overhead at the end of the accounting period for each company, assuming the amounts are immaterial. Required B Complete this question by entering your answers in the tabs below. Perez Company $ 262,050 Predetermined overhead rate 27,000 15,000 Compute the predetermined overhead rate for each company. Note: Round your answers to 2 decimal places. Munoz Company Per Direct Labor Hour

Munoz Company and Perez Company both apply overhead to the Work in Process Inventory account using direct labor hours. The following information is available for both companies for the year. Required a. Compute the predetermined overhead rate for each company. b. Using T-accounts, record the entry to close the overapplied or underapplied overhead at the end of the accounting period for each company, assuming the amounts are immaterial. Complete this question by entering your answers in the tabs below. Compute the predetermined overhead rate for each company. Note: Round your answers to 2 decimal places. Munoz Company and Perez Company both apply overhead to the Work in Process Inventory account using direct labor hours. The following information is available for both companies for the year. Required a. Compute the predetermined overhead rate for each company. b. Using T-accounts, record the entry to close the overapplied or underapplied overhead at the end of the accounting period for each company, assuming the amounts are immaterial. Complete this question by entering your answers in the tabs below. Using T-accounts, record the entry to close the overapplied or underapplied overhead at th amounts are immaterial

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