The following information was gathered for the Milestone Company for the year. The annual flexible...
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Accounting
The following information was gathered for the Milestone Company for the year. The annual flexible overhead budget is expected to be $150,000 of fixed costs and $5 per machine hour. The budgeted number of machine hours for the coming year is 30,000. Actual machine hours incurred equal 28,000 hours, and actual overhead cost total $295,000.
The amount of over/under applied overhead is
| a | $5,000 under applied |
| b | $5,000 over applied |
| c | $15,000 under applied |
| d | $15,000 over applied |
| e | $155,000 under applied |
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