You estimate that total overhead for the current year will be $15,000,000 with 300,000 total machine hours. Year to date, the actual overhead is $16,000,000 and the actual machine hours are 330,000 hours. You use a predetermined overhead rate based on machine hours. At this point in time (year to date), the overhead is O $1,000,000 underapplied O $500,000 overapplied O $500,000 underapplied O $1,000,000 overapplied
You estimate that total overhead for the current year will be $15,000,000 with 300,000 total machine hours. Year to date, the actual overhead is $16,000,000 and the actual machine hours are 330,000 hours. You use a predetermined overhead rate based on machine hours. At this point in time (year to date), the overhead is O $1,000,000 underapplied O $500,000 overapplied O $500,000 underapplied O $1,000,000 overapplied
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 11PA: When setting its predetermined overhead application race, Tasty Box Meals estimated its overhead...
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