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Category > Business & Finance Posted 08 May 2017 My Price 7.00

Manufacturing overhead

Manufacturing overhead—over/underapplied Creative Lighting, Inc., makes specialty table lamps. Manufacturing overhead is applied to production on a direct labor hours basis. During June, the first month of the company’s fiscal year, $56,520 of manufacturing overhead was applied to Work in Process Inventory using the predetermined overhead application rate of $6 per direct labor hour.

Required:

a. Calculate the number of hours of direct labor used during June.

b. Actual manufacturing overhead costs incurred during June totaled $49,340. Calculate the amount of over- or underapplied overhead for June.

c. Identify two possible explanations for the over- or underapplied overhead. d. Explain the accounting appropriate for the over- or underapplied overhead at the end of June

 

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Alpha Geek
(8)
Status NEW Posted 08 May 2017 09:05 AM My Price 7.00

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file 1494236359-2085781_1_636297502033210704_Overhead-applied.xlsx preview (266 words )
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