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Please show the equations you use, thank you! Flash Company Flash Company uses direct labor hours as the allocation base for its overhead costs. At
Please show the equations you use, thank you!
Flash Company Flash Company uses direct labor hours as the allocation base for its overhead costs. At the beginning of the year, it was estimated that the company would use 40,000 direct labor hours. It was also estimated that the corporation would incur $586,000 of manufacturing overhead costs. The company ended up using 41,000 direct labor hours during the year. The actual manufacturing overhead costs incurred during the year were $713,400. The company reported the following cost information for job #007: Direct Material cost per unit $10 Direct labor cost per hour $20 Estimated labor hours used Actual labor hours used 18 17 1) What is the pre-determined overhead rate for the year? 2) What is the total manufacturing overhead cost applied to job #007? 3) If the total manufacturing overhead applied for the year is $600,650, is it overapplied or under applied? And by how muchStep by Step Solution
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