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wlad13 [49]
3 years ago
15

A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that fa

ctory overhead costs would be $360,000 and direct labor hours would be 30,000. Actual factory overhead costs incurred were $377,200, and actual direct labor hours were 36,000. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year?
Business
1 answer:
serious [3.7K]3 years ago
7 0

Answer:

Over-applied overheads=  $54,800.00

Explanation:

<em>Overheads are charged to units produced by the means of using an estimated overhead absorption rate. This rate is computed using budgeted overhead and budgeted activity level.</em>

<em>As a result of this, overhead charged to total units product might be over or under absorbed compared to the actual amount incurred</em>.

Overhead absorption rate = budgeted Overhead/Budgeted labour hours

                                           = $360,000/30,000 direct labour hour

                                            <em>= $12 per hour</em>

<em>Absorbed overhead= OAR× actual labour hours</em>

                                 =  12×  36,000

                                     =  432,000.00

<em>Over absorbed(applied) overhea</em>d = is the difference between actual overhead and absorbed

                                $432,000.00 -  $377,200

                               Over-applied overheads=  $54,800.00

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