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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:

  1. 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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