Problem 3

Problem 3 (30 pts) Estimated manufacturing overhead Estimated machine hours Actual machine hours worked $690,000 46,000 50,000 Actual overhead costs incurred: Indirect materials Indirect labor Utilities Insurance Factory Rent $170,000 230,000 120,000 100,000 120,000 The company uses a predetermined overhead rate to apply overhead based on machine hours. What is the predetermined manufacturing application rate per machine hour? By how much? If this rate is used is manufacturing overhead over or under applied? Ir the over or under application is c for the over or under application? t be material in size what is the journmal entry to correet