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The following data pertain to the Oneida Restaurant Supply Company for the year just ended....

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Accounting

The following data pertain to the Oneida Restaurant Supply Company for the year just ended.

Budgeted sales revenue $ 200,000
Actual manufacturing overhead 338,000
Budgeted machine hours (based on practical capacity) 8,000
Budgeted direct-labor hours (based on practical capacity) 20,000
Budgeted direct-labor rate $ 13
Budgeted manufacturing overhead $ 364,000
Actual machine hours 11,000
Actual direct-labor hours 18,000
Actual direct-labor rate $ 15

Exercise 3-35 Part 1

Required:

1. Compute the firms predetermined overhead rate for the year using each of the following common cost drivers: (a) machine hours, (b) direct-labor hours, and (c) direct-labor dollars. (Round your answers to 2 decimal place.)

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2. Calculate the overapplied or underapplied overhead for the year using each of the following cost drivers. (Round intermediate calculation to 2 decimal places.)

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Cost Drivers Overhead Rate (a) Machine hours |(b) Direct-labor hours (c) Direct-labor dollars per machine hour per direct-labor hour per direct-labor dollar Amount Cost Drivers |(a) Machine hours |(b) Direct-labor hours (c) Direct-labor dollars

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