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Hi, I need Accounting help please Calculating the Predetermined Overhead Rate, Applying Overhead to Production, Reconciling Overhead at the End of the Year, Adjusting Cost
Hi, I need Accounting help please
Calculating the Predetermined Overhead Rate, Applying Overhead to Production, Reconciling Overhead at the End of the Year, Adjusting Cost of Goods Sold for Under- and Over applied Overhead At the beginning of the year, Horvath Company estimated the following: Overhead Direct labor hours $486,400 95,000 Horvath uses normal costing and applies overhead on the basis of direct labor hours. For the month of January, direct labor hours were 7,830. By the end of the year, Horvath showed the following actual amounts: Overhead Direct labor hours Assume that unadjusted Cost of Goods Sold for Horvath was $707,000. Required: 1. Calculate the predetermined overhead rate for Horvath. Round your answer to the nearest cent. $476,100 93,500 per direct labor hour the overhead applied to production in January. (Note: Round to the nearest dollar.) n bnuary(Ce o the neary 2. Calculate 3. Calculate the total applied overhead for the year Was overhead over- or under applied? By how much? Select overhead $ 4. Calculate adjusted Cost of Goods Sold after adjusting for the overhead variance
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