Tub-Tubs Tub Co. uses predetermined overhead rates to allocate manufacturing overhead to various jobs. The...
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Tub-Tubs Tub Co. uses predetermined overhead rates to allocate manufacturing overhead to various jobs. The allocation base is machine hours. The following data is for 2016: Estimated Actual Direct materials $ 710,000 $ 682,000 Direct labor hours 37,000 35,000 Direct labor cost $ 621,000 $ 547,000 Machine hours 125,000 132,000 Manufacturing overhead $ 890,000 $ 958,000 a. Compute the firms predetermined overhead rate. b. For 2016, was overhead over- or under-applied and by how much? c. For 2016, what amount was recorded to Work-in-Process for manufacturing overhead?
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