Wildhorse Company produces earbuds. During the year, manufacturing overhead costs are estimated to be $241,800. Estimated machine usage is 2,600 hours. The company assigns overhead based on machine hours. Job No. 551 used 90 machine hours.

Compute the predetermined overhead rate.

Predetermined overhead rate

$

Determine the amount of overhead to apply to Job No. 551.

Overhead assigned

$

Prepare the entry to apply overhead to Job No. 551 on January 15. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 15
	(To assign overhead to jobs)