selected cost data for Antique Poster Co. are as follows: Estimated manufacturing overhead cost for...
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Accounting
selected cost data for Antique Poster Co. are as follows:
Estimated manufacturing overhead cost for the year$120,000
Estimated direct labor cost for the year100,000
Actual manufacturing overhead cost for the year90,000
Actual direct labor cost for the year71,000
Requirements:
1.Compute the predetermined overhead rate per direct labor dollar.
2.Compute the amount of applied overhead for the year.
3.Prepare the journal entry to apply overhead costs for the year.
4.Use a T-account to determine the amount of underapplied or overapplied manufacturing overhead.
5.Prepare the journal entry to adjust for the underapplied or overapplied manufacturing overhead.
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