Crich Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the vear, the estimated direct labor-hours were 22,160 hours and the total estimated manufacturing overhead was $585,024. At the end of the year, actual direct labor-hours for the year were 22.150 hours and the actual manufacturing overhead for the year was $585,024. Overhead at the end of the year was: (Round your intermediate calculations to 2 decimal places.) Multiple Choice $314 overapplied $314 underapplied $264 underapplied $264 overapplied

Crich Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the vear, the estimated direct labor-hours were 22,160 hours and the total estimated manufacturing overhead was $585,024. At the end of the year, actual direct labor-hours for the year were 22.150 hours and the actual manufacturing overhead for the year was $585,024. Overhead at the end of the year was: (Round your intermediate calculations to 2 decimal places.) Multiple Choice $314 overapplied $314 underapplied $264 underapplied $264 overapplied

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 8PA: Coops Stoops estimated its annual overhead to be $85,000 and based its predetermined overhead rate...

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Coops Stoops estimated its annual overhead to be $85,000 and based its predetermined overhead rate on 24,286 direct labor hours. At the end of the year, actual overhead was $90,000 and the total direct labor hours were 24,100. What is the entry to dispose of the over applied or under applied overhead?
A company estimated 100,000 direct labor hours and $800,000 in overhead. The actual overhead was $805,100, and there were 99,900 direct labor hours. What is the predetermined overhead rate, and how much was applied during the year?
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The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning February 1 would be 3,150,000, and total direct labor costs would be 1,800,000. During February, the actual direct labor cost totalled 160,000, and factory overhead cost incurred totaled 283,900. a. What is the predetermined factory overhead rate based on direct labor cost? b. Journalize the entry to apply factory overhead to production for February. c. What is the February 28 balance of the account Factory OverheadBlending Department? d. Does the balance in part (c) represent over- or underapplied factory overhead?
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