M2-17 (Algo) Calculating Over- or Underapplied Overhead Costs [LO 2-3, 2-4, 2-5] Fairfield company applies manufacturing overhead to products at a predetermined rate of $47 per direct labor hour. Its actual manufacturing costs for the most recent period are summarized here: Iten Direct materials Indirect materials Hourly labor wages Description Used on Jobs 101 and 102 Used on multiple jobs 750 hours @ $27 per hour 200 hours for Job 101 = 300 hours for Job 102 = 250 hours for Job 103 Total Cost $ 88,500 28,500 $ 5,400 8,100 6,750 20,250 3,700 7,700 2,200 8,700 Factory supervision. Production engineer Factory janitorial work Selling, general, and administrative salaries Other manufacturing overhead costs (factory rent, insurance, depreciation, Et cetera.) Other selling, general, and administrative costs (office rent, insurance, depreciation, etc.) Required: 1. Post the preceding information to Fairfield Company's Manufacturing Overhead T-account. 2. Compute over- or underapplied manufacturing overhead. 7,200 5,700 Required: 1. Post the preceding information to Fairfield Company's Manufacturing Overhead T-account. 2. Compute over- or underapplied manufacturing overhead. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Post the preceding Information to Fairfield Company's Manufacturing Overhead T-account. Manufacturing Overhead Debit Credit Balance 0 Required: 1. Post the preceding information to Fairfield Company's Manufacturing Overhea 2. Compute over- or underapplied manufacturing overhead. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute over- or underapplied manufacturing overhead. Manufacturing Overhead by < Required 1 Required 2 >