Question
The following information applies to the questions displayed below.] The following data pertain to the Oneida Restaurant Supply Company for the year just ended Budgeted
The following information applies to the questions displayed below.]
The following data pertain to the Oneida Restaurant Supply Company for the year just ended
| Budgeted sales revenue | $ | 200,000 | |
| Actual manufacturing overhead | 338,000 | ||
| Budgeted machine hours (based on practical capacity) | 10,000 | ||
| Budgeted direct-labor hours (based on practical capacity) | 20,000 | ||
| Budgeted direct-labor rate | $ | 14 | |
| Budgeted manufacturing overhead | $ | 364,000 | |
| Actual machine hours | 11,000 | ||
| Actual direct-labor hours | 18,000 | ||
| Actual direct-labor rate | $ | 15 | |
2. Calculate the overapplied or underapplied overhead for the year using each of the following cost drivers. (Round intermediate calculation to 2 decimal places.)
a. machine hours
b. Direct Labor hours
c. Direct Labor Dollars
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Contemporary Auditing Issues And Cases
Authors: Michael Chris Knapp
3rd Edition
0538891173, 9780538891172
