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Predetermined Overhead Rate, Applied Overhead, Unit Cost Gomez, Inc., costs products using a normal costing system. The following data are available for last year:
Predetermined Overhead Rate, Applied Overhead, Unit Cost Gomez, Inc., costs products using a normal costing system. The following data are available for last year: Budgeted: Overhead Machine hours $282,800 86,000 Direct labor hours 10,100 Actual: Overhead Machine hours Direct labor hours Prime cost Number of units $282,400 83,700 9,840 $1,254,480 170,000 Overhead is applied on the basis of direct labor hours. Required: 1. What was the predetermined overhead rate? per direct labor hour 2. What was the applied overhead for last year? 3. Was overhead over- or underapplied, and by how much? 4. What was the total cost per unit produced? (Carry your answer to four significant digits.) per unit
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