Question
Predetermined Overhead Rate, Applied Overhead, Unit Cost Ripley, Inc., costs products using a normal costing system. The following data are available for last year: Budgeted:
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Predetermined Overhead Rate, Applied Overhead, Unit Cost
Ripley, Inc., costs products using a normal costing system. The following data are available for last year:
Budgeted: Overhead $343,000 Machine hours 88,000 Direct labor hours 9,800 Actual: Overhead $342,200 Machine hours 85,800 Direct labor hours 9,580 Prime cost $1,464,700 Number of units 180,000 Overhead is applied on the basis of direct labor hours.
Required:
1. What was the predetermined overhead rate? $fill in the blank 1 per direct labor hour
2. What was the applied overhead for last year? $fill in the blank 2
3. Was overhead over- or underapplied, and by how much? = $fill in the blank 4
4. What was the total cost per unit produced? (Carry your answer to four significant digits.) $fill in the blank 5 per unit
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