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Yarn Textiles manufactures laces used in shoes, boots, and sporting goods. The cost to manufacture...

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Accounting

Yarn Textiles manufactures laces used in shoes, boots, and sporting goods. The cost to manufacture shoe laces is $0.94 in direct materials, $0.79 in direct labour. Under normal capacity, the company estimates that total overhead is $0.77 per unit, based on normal capacity of 1,695,000 units. Consider the following independent scenarios:

image Yarn Textiles manufactures laces used in shoes, boots, and sporting goods. The cost to manufacture shoe laces is $0.94 in direct materials, $0.79 in direct labour. Under normal capacity, the company estimates that total overhead is $0.77 per unit, based on normal capacity of 1,695,000 units. Required: 1. Calculate the total overhead over- or underapplied, if any. (Negative amounts should be shown with a minus sign.) 2. Calculate the total COGS and ending inventory under each scenario

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