Question

X company had actual overhead costs of 25,000 in 2007. In its costing system $30,000 of...

X company had actual overhead costs of 25,000 in 2007. In its costing system $30,000 of overhead was applied (allocated) to Work-in-Process in 2007...
Overhead was over or under applied and by how much
0 0
Add a comment Improve this question
Answer #1

Answer- The amount of over-applied overhead costs = $5000.

Explanation= Over-applied overhead costs = Manufacturing overhead applied - Actual manufacturing overhead costs

= $30000 – $25000

= $5000

Add a comment
Know the answer?
Add Answer to:
X company had actual overhead costs of 25,000 in 2007. In its costing system $30,000 of...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • 30. The overhead control account records the actual overhead costs incurred and the overhead cost...

    True or False 30. The overhead control account records the actual overhead costs incurred and the overhead costs allocated. 31. There are normally three inventory accounts in a manufacturer's general ledger; raw materials, cost of sales and finished goods. 32. When raw materials are purchased the raw materials inventory account is credited. 33. Actual overhead is debited to the overhead control account. 34. The journal entry to record overhead allocated is debit Work in Process and credit Overhead Control 35....

  • ARKANSAS CORPORATION is a company that produces machinery to customer order. Its job costing system, using...

    ARKANSAS CORPORATION is a company that produces machinery to customer order. Its job costing system, using normal costing, has two direct cost categories, direct materials and direct labor, and one indirect cost pool, manufacturing overhead, allocated using a budgeted rate based on direct labor costs. Budgeted and actual information for 2019 are as follows:      Budget Actual Direct Labor $210,000 $200,000 Manufacturing overhead $126,000 $ 93,420 At the end of 2019, the ending work in process consisted of: Ending Work...

  • Aspen Company estimated its manufacturing overhead to be $1,073,000 and its direct labor costs to be...

    Aspen Company estimated its manufacturing overhead to be $1,073,000 and its direct labor costs to be $580,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $176,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $301,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $126,000. Actual...

  • Aspen Company estimates its manufacturing overhead to be $848,000 and its direct labor costs to be...

    Aspen Company estimates its manufacturing overhead to be $848,000 and its direct labor costs to be $530,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $166,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $291,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $116,000. Actual...

  • Taylor Construction Company uses a job-order costing system. The company had 3 jobs in process at...

    Taylor Construction Company uses a job-order costing system. The company had 3 jobs in process at the beginning of the month Job 302. Job 303, and Job 304). The beginning balance of the Work In Process account was $145,400, consisting of $42,400, 565, 100, and $37.900 shown on the job cost sheets for Jobs 302, 303, and 304, respectively. During the month. Taylor added the following materials and labor costs to each job: Inventory Materials Labor $32.000 Job 302 Job...

  • Aspen Company estimates its manufacturing overhead to be $1,170,000 and its direct labor costs to be...

    Aspen Company estimates its manufacturing overhead to be $1,170,000 and its direct labor costs to be $600,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $180,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $305,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $130,000. Actual...

  • Vanwagenen Inc. uses a job costing system. The company applies manufacturing overhead to jobs using a...

    Vanwagenen Inc. uses a job costing system. The company applies manufacturing overhead to jobs using a predetermined overhead rate based on direct labor cost. The company has provided the following data for the month of April: Inventories: Beginning Ending Raw materials (all materials are direct materials) ............................... $13,500 $17,500 Work in process……………………………………………...................... $12,000 $16,000 Finished goods………………………………………………..................... $27,000 $25,000 Addition information is given below. Direct materials used in production..………………………..... $66,000 Total manufacturing costs charged to production (includes direct materials, direct labor,...

  • Aspen Company estimates its manufacturing overhead to be $1,220,000 and its direct labor costs to be $610,000 for year...

    Aspen Company estimates its manufacturing overhead to be $1,220,000 and its direct labor costs to be $610,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $182,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $307,000. Job 2-3, which is still in work- in-process inventory, had actual direct labor costs of $132,000....

  • A company expected its annual overhead costs to be $20,000 and direct labor hours to be...

    A company expected its annual overhead costs to be $20,000 and direct labor hours to be 10,000. Actual overhead was $25,000, and actual labor hours totaled 12,000. Calculate predetermined overhead rate, amount of applied overhead and state whether it results in under applied or over applied.

  • Aspen Company estimates its manufacturing overhead to be $635,000 and its direct labor costs to be...

    Aspen Company estimates its manufacturing overhead to be $635,000 and its direct labor costs to be $508,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $326,600. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $195,960. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $130,640. Actual...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT