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Rasek [7]
3 years ago
10

The following data pertain to the Oneida Restaurant Supply Company for the year just ended.

Business
1 answer:
dimulka [17.4K]3 years ago
8 0

Answer:

Predetermined overhead rate = Budgeted manufacturing rate/Allocation base

a. <u>Machine hours</u>

= 364,000 / 8,000

= $45.5

Predetermined overhead rate = $45.5

<u />

<u>Direct-labor hours</u>

= 364,000 / 20,000

= $18.2

Predetermined overhead rate = $18.2

<u>Direct-labor dollars</u>

Budgeted labor hours = 20,000 * $14 = $280,000

Predetermined overhead rate =  364,000 / $280,000 = $1.3

b. <u>Machine hours</u>

Manufacturing overhead applied = Actual machine hours * Predetermined overhead rate = $45.5 * 11,000 = $500,500

Over/Under applied overhead = 336,000 - 500,500

Over-applied overhead = $164,500

<u>Direct-labor hours</u>

Manufacturing overhead applied = Actual direct-labor hours * Predetermined overhead rate = $18.2 * 18,000 = $327,600

Over/Under applied overhead = 336,000 - 327,600

Under-applied overhead = $8400

<u>Direct-labor dollars</u>

Manufacturing overhead applied = Actual direct-labor hours * Actual direct-labor rate * Predetermined overhead rate

Manufacturing overhead applied = 18,000 * $15 * $1.3 = 351,000

Over/Under applied overhead = 336,000 - 351,000

Over-applied overhead = $15,000

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