This alternative exam option should only be completed by students who have recei

Question

This alternative exam option should only be completed by students who have received faculty approval 12 Kimble Company applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under- or overapplication of overhead for the period: Estimated annual overhead cost Actual annual overhead cost Estimated machine hours Actual machine hours $1,600,000 $1,575,000 400,000 390,000 O$1,560,000 applied and $15,000 overapplied O$1,560,000 applied and $15,000 underapplied O$1,575,000 applied and neither under-nor overapplied O$1,600,000 applied and $15,000 overapplied

Explanation / Answer

As per policy, only four parts of a question are allowed to answer at a time, so answering first four parts:

12) answer: $1560000 applied and $15000 underapplied Predetermined overhead rate = 1600000/400000=$4per MH Applied overhead = 390000*4= 1560000 Actual overhead = 1575000 Under applied overhead = 1575000-1560000=$15000 28) answer: 35% contribution margin = contribution / Selling price contribution margin = 20-13 / 20 = 35% 29) answer: 2 times Degree of operating leverage = change in EBIT/change in sales so, warren = 3/1 & miller = 1.5 or Warren : miller = 3 : 1.5 or 2 : 1 4) answer: $441000 credit 423000 credit +(60000-36000)-6000 = 441000 credit

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