yp us armpany allocates ove head ed on machine hours, For 2018,the accountant at
ID: 2399665 • Letter: Y
Question
yp us armpany allocates ove head ed on machine hours, For 2018,the accountant at Cyprus esti ated the co oany would incr S880 the year, Cyprus accountant determined they actually incurred $1,000,000 of overhead and the machines ren for 41,500 hours Calculate the following. USE ONLY WHOLE NUMBERS. DO NOT USE DOLLAR SIGNS, COMMAS, PERIODS, ETC 1. Cyprus' predetermined overhead rate per direct labor hour. 2. The amount of overhead applied to production during 2018. 3. The amount of overhead over or under applied. Just put the number here. The next question asks if t was over or under appled 4. Enter one of the following: overapplied, underapplied. S. At year end, would Cypurs work in 6. One of the jobs Cyprus cempleted in June required $6,000 o ead eo and 40,000 ad ne hours. At the end of dd cost to work in process, finished goods and cost of goods sold, or subtract cost? Encer ethen add or of materials, 50 machine hours and 80 hours of labor time. Werkers are peid $12 per hour. What is the total cout of the yo SaveExplanation / Answer
a . Pre determined labour over head rate =$ 880000/ 40000
= $ 22
b. Applied over head = 41500 * 22
= $ 913000
c. Amount = $ 913000- $ 880000
=$ 33000
d. Overhead is overabsorbed.
e.
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