Homework Answers
(a) Manufacturing overhead rate = 1,800,000 / 200,000 = $9 per hour
(b) Applied overheads for January = $9 * 22000 = 198,000
Overhead overapplied = 198,000 - 186,000 = 12000
(c) Applied overheads for January = $9 * 214000 = 1,926,000
Overhead underapplied = 1,940,000 - 1,926,000= 14000
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Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs...
Ikerd Company applies manufacturing overhead to jobs on the
basis of machine hours used. Overhead costs are expected to total
$300,000 for the year, and machine usage is estimated at 125,000
hours.
For the year, $322,000 of overhead costs are incurred and 130,000
hours are used.
Manufacturing overhead rate
$
per machine hour
Manufacturing Overhead
$
repare the adjusting entry to assign the under- or overapplied
overhead for the year to cost of goods sold. (Credit
account titles are automatically...
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