Wilson Enterprises applies overhead based on direct labor cost. The company estimates that their overhead...
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Accounting
Wilson Enterprises applies overhead based on direct labor cost. The company estimates that their overhead for the year will be $240,000, and direct labor cost to be $300,000. Actual direct labor cost for Martinez Manufacturing was $280,000 and actual overhead costs were $220,000. At the end of the year, manufacturing overhead was:
1. Overapplied by $20,000.
2. Underapplied by $20,000.
3. Overapplied by $4,000.
4. Underapplied by $4,000.
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