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Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $ Estimated direct labor cost was $ for hours.
Actual costs for the most recent month are summarized here:
Item Description Total Cost
Direct labor hours $
Indirect costs
Indirect labor
Indirect materials
Factory rent
Factory supervision
Factory depreciation
Factory janitorial work
Factory insurance
General and administrative salaries
Selling expenses
Required:
Calculate the predetermined overhead rate.
Calculate the amount of applied manufacturing overhead.
Calculate actual manufacturing overhead costs.
Compute over or underapplied overhead.
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