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For Kiqui Company, the predetermined overhead rate is 120% of direct labour cost. During the month of June 2020, Kiqui incurred $55,890 of factory labour costs, of which $48,260 was direct labour and $7,630 was indirect labour. Actual overhead incurred in June 2020 was $70,140. Calculate the amount of manufacturing overhead applied during the month. Manufacturing overhead applied $ LINK TO TEXT Determine the amount of under- or over-applied manufacturing overhead. Manufacturing overhead $ LINK TO TEXT Prepare the adjusting entry for the under- or over-applied overhead. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit LINK TO TEXTFontillas Instrument, Inc. manufactures two products: missile range instruments and space pressure gauges. During April, it produced 50 range instruments and 300 pressure gauges and incurred estimated overhead costs of $94,410. An analysis of estimated overhead costs reveals the following activities: Activities Cost Drivers Total Cost 1. Material handling Number of requisitions $35,090 2. Machine set-ups Number of set-ups 28,500 Quality inspections Number of inspections 30,820 $94,410 The cost driver volume for each product was as follows: Cost Drivers Instruments Gauges Total Number of requisitions 580 630 1,210 Number of set-ups 200 300 500 Number of inspections 220 450 670 Determine the overhead rate for each activity. The overhead rates are: Activity Cost Pool Rate Material handling $ per requisition Machine set-ups per set-up Inspections $ per inspection LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE Assign the manufacturing overhead costs for April to the two products using activity-based costing. Instruments Gauges Overhead cost per unit $ $ LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE