Predetermined Overhead Rate, Applied Overhead, Unit Cost Ripley, Inc., costs products using a normal costing...
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Accounting
Predetermined Overhead Rate, Applied Overhead, Unit Cost
Ripley, Inc., costs products using a normal costing system. The following data are available for last year:
| Budgeted: | ||
| Overhead | $248,400 | |
| Machine hours | 81,000 | |
| Direct labor hours | 9,200 | |
| Actual: | ||
| Overhead | $247,900 | |
| Machine hours | 78,900 | |
| Direct labor hours | 8,940 | |
| Prime cost | $1,198,620 | |
| Number of units | 160,000 |
Overhead is applied on the basis of direct labor hours.
Required:
1. What was the predetermined overhead rate? $ per direct labor hour
2. What was the applied overhead for last year? $
3. Was overhead over- or underapplied, and by how much? = $
4. What was the total cost per unit produced? (Carry your answer to four significant digits.) $ per unit
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