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please help Pharoah Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $387,500 for the
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Pharoah Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $387,500 for the year, and machine usage is estimated at 125,000 hours. For the year, $405,000 of overhead costs are incurred and 130,000 hours are used. (a) Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal ploce e. 52.75.) Overhead rate per machine hour Attempts:0 of 1 used What is the arnount of under - or overapplied overhead at December 31 ? Overhead Attempts: 0 of 1 used (C) Assuming the under - or overapplied overhead for the year is not allocated to loventory accounts, prepare the adjusting entry to assign the amount to cost of goods sold. (Cradit account tites are automatically indented when the amount is entered. Do not indent. manually. List all debit entries before credit entries) Step by Step Solution
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