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Estimated annual factory overhead is $480,000. Overhead is applied using direct labor hours. Budgeted annual direct labor hours are 200,000. Actual data for March includes
Estimated annual factory overhead is $480,000. Overhead is applied using direct labor hours. Budgeted annual direct labor hours are 200,000. Actual data for March includes factory overhead that equaled $42,000 and direct labor hours were 17,000.
a. Calculate the amount of overhead applied for March.
b. Calculate the amount of overhead under or over applied for March. Clearly indicate if overhead is under or over applied.
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