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kicyunya [14]
3 years ago
14

Crich Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct

labor-hours were 22,060 hours and the total estimated manufacturing overhead was $560,324. At the end of the year, actual direct labor-hours for the year were 22,000 hours and the actual manufacturing overhead for the year was $560,324. Overhead at the end of the year was: (Do not round intermediate calculations.) Multiple Choice $1,524 underapplied $1,574 underapplied $1,524 overapplied $1,574 overapplied
Business
1 answer:
Rama09 [41]3 years ago
8 0

Answer:

$1,524 underapplied

Explanation:

Predetermined overhead rate = Estimated Manufacturing Overhead ÷ Estimated Activity.

                                                  = $560,324 ÷ 22,060

                                                  = $25.40

Applied Overheads = Predetermined overhead rate × Actual Activity

                                 = $25.40 × 22,000

                                = $558,800

<em>Where,</em>

Actual Overheads are  $560,324 (given)

<em>Conditions :</em>

If Actual Overheads > Applied Overheads, we say overheads are under-applied and if Actual Overheads < Applied Overheads, we say that overheads are over-applied.

<em>Therefore ,</em>

In our case, Actual Overheads : $560,324 > Applied Overheads : $558,800. Overheads have been under-applied by $1,524 ($560,324 - $558,800).

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