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3 years ago

Shivers Ice Cream Company estimates its factory overhead costs to be $35,000 and machine hours to be 5,000 for the year.

Business

1 answer:

k0ka [10]3 years ago

3 0

Answer:

The correct answer is A.

Explanation:

Giving the following information:

Estimated factory overhead costs= $35,000

Estimated machine hours= 5,000

The actual hours worked on Jobs 333 and Jobs 334 total 4,980 and actual factory overhead costs are $34,700,

First, we need to calculate the estimated overhead rate:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 35,000/5,000= $7 per machine hour

Now, we can allocate overhead based on actual machine hours:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 7*4,980= $34,860

Finally, we determine the over/under allocation:

Under/over applied overhead= real overhead - allocated overhead

Under/over applied overhead= 34,700 - 34,860

Under/over applied overhead= $160 overallocated

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Explanation:

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3 years ago

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3 years ago

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FILL IN THE BLANK. the___process originates in the sales department and ends in the accounting department.

k0ka [10]

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1 year ago

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Answer:

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