The following information is provided for the year.   Actual direct labour hours worked 36,000 Budgeted overhead $400,000 Budgeted direct labour hours 40,000 Actual overhead costs incurred $360,000   If normal costing is used, the amount of overhead applied for the year would be:

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Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.