Chp 20 #3

Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance would be $700,000, and total direct labor costs would be $560,000. During May, the actual direct labor cost totaled $48,000, and factory overhead cost incurred totale $62,400 a. What is the predetermined factory overhead rate based on direct labor cost? Enter your answer as a whole percent not in decimals. \% b. Journalize the entry to apply factory overhead to production for May. If an amount box does not require an entry, leave it blank. Work in Process-Blending Department Factory Overhead-Blending Department c. What is the May 31 balance of the account Factory Overhead-Blending Department? Amount: $ Debit or Credit? d. Does the balance in part (c) represent overapplied or underapplied factory overhead