AutoSave OF APvc ... ACC 215 Chapter Two ex Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Calibr (Body v 12 v A X G 25 Wrap Text General Insert v ' . Y, v >Delete v Paste Y arA. = = = Merge & Center $ % Y Conditional Format Cell Formatting es Table Styles Sort & Filter # Format Find & Select Analyze Data Sensitivity V M19 fx A C D E F H J K L M N 1 2 3 B Name: Section: Cells highlighted in green contain a drop-down arrow; select information from list. In the cells highlighted in grey, enter the appropiate amount of percentage in those cells. When the correct amount is entered, the cell will change color. , The predetermined overhead rate for Carr Manufacturing is based on estimated direct labor costs of $175,000 and estimated factory overhead of $385,000. Actual costs incurred were: $ 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Direct materials Direct labor Indirect materials Indirect labor Sales commissions Factory depreciation Property taxes, factory Factory utilities Advertising Factory supervision 475,000 173,500 39,000 71,750 150,000 130,000 17,500 32,500 62,500 92,500 REQUIRED: a. Calculate the predetermined overhead rate and calculate the overhead applied during the year, b. Determine the amount of over- or underapplied overhead and prepare the journal entry to eliminate the over- or underapplied overhead. a. Overhead Rate Choose Denominator: Choose Numerator: Overhead Rate Overhead Rate 29 30 31 32 33 Factory Overhead Applied + E2-4 E 2-15 Ready + 125% % AutoSave OF APvc ... ACC 215 Chapter Two ex Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Calibri (Body v 12 v A 25 Wrap Text General X G Insert v Y, v Delete v Pacto Y arA. = = = Merge & Center v $ % ) Y Conditional Format Cell Formatting es Table Styles Sort & Filter # Format Find & Select Analyze Data Sensitivity M19 fx A B C D E E F H T J K L M N Factory Overhead Applied b. Actual overhead: Indirect materials Indirect labor Factory depreciation Property taxes, factory Factory utilities Factory supervision Total actual overhead: Overhead applied 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 General Journal Debit Credit E 2-4 E 2-15 + Ready 125%