Your parents will retire in 14 years. They currently have $290,000, and they think they will need $1 million at retirement. What
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Answer:
Applied Overhead is higher than actual overhead. Hence, manufacturing overhead is $ 4,000
Explanation:
Given data:
estimated overhead = $2,40,000
Labor cost =$2,80,000
Direct labor cost = $3,00,000
= $ 0.80 per direct labor cost
=$ 2,24,000
Actual Overhead cost = $ 2,20,000
Applied Overhead is more than actual overhead. Hence, manufacturing overhead is $ 4,000.