fari File Edit View History Bookmarks Window Help 4))6396· Wed 11:08 PM a E edug
ID: 2566918 • Letter: F
Question
fari File Edit View History Bookmarks Window Help 4))6396· Wed 11:08 PM a E edugen.wileyplus.com Chegg Study Guided Solutione and Study Help Chegg.com WileyPLUS Return to Blackboard AE Res 20-1A Weygandt, Accounting Principles, 12e HeleI System Announcements (1 Unread) PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Exercise 20-5 (Part Level Submission) Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $348,189 for the year, and machine usage is estimated at 125,700 hours. 20-2 Exercise 20-2 Exercise 20-5 (Par Lease...enshots HEF For the year, $444,755 of overhead costs are incurred and 131,500 hours are used. Exercise 20-9 (Part (a) L] Your answer is correct. Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e.g. 1.25.) Paut bonus Article20-2A summary Level Submission) Review Score Objective Results by St 2.771 per machine hour bonus Article SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER sunmary LINK TO TEXT LINK TO TEXT Attempts: 1 of 15 used book orders 20-9 (b) What is the amount of under- or overapplied overhead at December 31? Manufacturing Overhead s ch 13 New and POI Attempts: 0 of 15 used SAVE FOR LATERSUBMIT ANSWER SUBMIT ANSWER ch 13 New Accounting and POI The parts of this question must be completed in order. This part will be available when you complete the part above. NOV 8Explanation / Answer
b. Amount of under applied or over applied overhead.
Manufacturing overhead = $80,500.......[under applied]..
since 131,500 hours are used.
over head applied will be = 131,500 * $2.77 per machine hour =>$364,255.
actual overhead incurred = $444,755.
under / (over) applied overhead = actual over head - applied over head
=.$444,755 - 364,255
=>$80,500...(under applied.)....(since incurred overhead is greater than applied overhead we have under applied overhead).
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.