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$300,700
Machine hours86,000
Direct labor hours9,700
Actual:
Overhead$300,000
Machine hours84,000
Direct labor hours9,340
Prime cost$970,460
Number of units180,000
Overhead is applied on the basis of direct labor hours.
Required:
1.What was the predetermined overhead rate?
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.)
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