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Mango Company applies overhead based on direct labor costs. For the current year, Mango Company estimated total overhead costs to be $660,000, and direct labor
Mango Company applies overhead based on direct labor costs. For the current year, Mango Company estimated total overhead costs to be $660,000, and direct labor costs to be $330,000. Actual overhead costs for the year totaled $672,000, and actual direct labor costs totaled $369,000. At year-end, Factory Overhead account is:
Multiple Choice
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Overapplied by $66,000.
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Underapplied by $66,000.
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Overapplied by $39,000.
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Neither overapplied nor underapplied.
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Overapplied by $369,000.
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