Estimated total factory overhead costs\

$20,000\ 70,000

\ Estimated total direct labor hours\ The Company incurred the following actual data:\ Direct materials used in production\

$10,000\ $50,000\ $15,000\ 50,000

\ Direct labor used in production\ Actual factory overhead costs\ 50,000\ Actual direct labor hours\ Required:\ Calculate the predetermined factory overhead rate.\ Calculate the amount of applied factory overhead charged to production.\ Calculate the amount of over or under applied factory overhead.\ Indicate whether the factory overhead is over or under applied.\ Write the entry to close the under or over applied factory overhead.

1. Calculate the predetermined factory overhead rate. 2. Calculate the amount of applied factory overhead charged to production. 3. Calculate the amount of over or under applied factory overhead. 4. Indicate whether the factory overhead is over or under applied. 5. Write the entry to close the under or over applied factory overhead