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I need help answering b. and c. of the question. Cost of Goods Manufactured and Income Statement with Predetermined Overhead and Labor Cost Classification Assume
I need help answering "b." and "c." of the question.
Cost of Goods Manufactured and Income Statement with Predetermined Overhead and Labor Cost Classification Assume information pertaining to Bauer Hockey for April of the current year follows. Additional information follows: -Manufacturing overhead is applied to products at 125% of direct labor dollars. -Employee base wages are $15 per hour. -Employee fringe benefits amount to 20% of the base wage rate. They are classified as manufacturing overhead. -During April, production employees worked 5,850 hours, including 4,680 regular hours and 360 overtime hours spent working on products. There were 810 indirect labor hours. -Employees are paid a 50\% overtime premium. Any overtime premium is treated as manufacturing overhead. Required a. Prepare a statement of cost of goods manufactured and an income statement for April. Note: Do not use any negative signs with your statements. b. Determine underapplied or overapplied overhead for April. c. Recompute direct labor and actual manufacturing overhead assuming employee fringe benefits for direct labor hours are classified as direct labor. Direct labor $ Actual manufacturing overhead
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