Question
The estimated total factory overhead cost and total machine hours for Department 40 for the current year are $250,000 and 56,250, respectively. During January, the
The estimated total factory overhead cost and total machine hours for Department 40 for the current year are $250,000 and 56,250, respectively. During January, the first month of the current year, actual machine hours used totaled 5,100 and factory overhead cost incurred totaled $22,000.
a. Determine the factory overhead rate based on machine hours. Round your answer to two decimal places. $per machine hour
b. Present the entry to apply factory overhead to production in Department 40 for January.
|
c. What is the balance of Factory Overhead - Department 40 at January 31? $credit
d. Does the balance of Factory Overhead - Department 40 at January 31 represent overapplied or underapplied factory overhead? SelectOverapplied factory overheadUnderapplied factory overheadCorrect 2 of Item 3
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started