Question
Can i please get help with the following... XYZ company applies manufacturing overhead to jobs on the basis of machine hours used. Overhesd costs are
Can i please get help with the following...
XYZ company applies manufacturing overhead to jobs on the basis of machine hours used. Overhesd costs are expected to total $425k for the yet. And machine usage is estimated at 125k hrs. For the year $450k of overhead costs incurred and 130k hours used.
Compute the manufacturing overhead rate for the year (answer by rounding 2 decimal places, ex 00.00)
Overhead rate $_____ per machine hr.
Amount of under-or- overapplied overhead at Dec 31?
Overhead $________, &(under/overapplied)
Assuming the under -overapplied rate for the yr is not allocated to inventory accts, the adjusted entry to assign COGS... Journal entry would like....
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