Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I just need to see if this is correct. Predetermined Overhead Rate, Applied Overhead, Unit Cost Gomez, Inc., costs products using a normal costing system.

I just need to see if this is correct.
image text in transcribed
Predetermined Overhead Rate, Applied Overhead, Unit Cost Gomez, Inc., costs products using a normal costing system. The following data are available for last year: Budgeted: Overhead $310,400 Machine hours 84,000 Direct labor hours 9,700 Actual: Overhead $309,600 Machine hours 81,900 Direct labor hours 9,310 Prime cost $402,080 Number of units 100,000 Overhead is applied on the basis of direct labor hours. Required: 1. What was the predetermined overhead rate? 32 per direct labor hour 2. What was the applied overhead for last year? 297,920 3. Was overhead over- or underapplied, and by how much? Underapplied overhead 12,480 4. What was the total cost per unit produced? (Carry your answer to four significant digits.) 7.000 per unit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

Have pattern like hair on their skin?

Answered: 1 week ago