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Irma?s Interiors_Manufacturing Overheads




Question;Irma?s Interiors uses a;job order costing system to collect the costs of its interior decorating;business. Each client?s consultation is treated as a separate job. Overhead is;applied to each job based on the number of decorator hours incurred. Listed;below are data for the current year.;Budgeted overhead;???.? $960,000;Actual overhead;????.?. $982,800;Budgeted decorator;hours ??.. 40,000;Actual decorator;hours ???? 40,500;The company uses;Operating Overhead in place of Manufacturing Overhead.;Instructions;(a) Compute the;predetermined overhead rate.;(b) Prepare the;entry to apply the overhead for the year.;(c) Determine;whether the overhead was under- or overapplied and by how much.


Paper#37355 | Written in 18-Jul-2015

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