Homework Answers
Requirement a:
Predetermined overhead rate
= Estimated consulting overhead cost ÷ Estimated direct labor cost
= $405,000 ÷ $324,000
= $1.25
Requirement b:
Applied overhead for May
= Actual direct labor cost x Predetermined overhead rate
= $22,000 x $1.25
= $27,500
Requirement c:
| Applied overhead | $27,500 |
| Actual overhead | ($26,000) |
| Over-applied | $1,500 |
Requirement d:
Applied manufacturing overhead
= Actual direct labor hours x Predetermined overhead rate
= 2,400 hours x $11.25
= $27,000
Calculations:
i.Direct labor hours = Estimated direct labor cost ÷ rate per hour = $324,000 / $9 = 36,000 labor hours
ii.Predetermined overhead rate = Estimated consulting overhead cost ÷ Estimated direct labor hours = $405,000 ÷ 36,000 = $11.25 per hour
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