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ACC- Duggan Company applies manufacturing overhead




Question;Duggan Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $325,000 for the year, and machine usage is estimated at 125,000 hours. For the year, $342,000 of overhead costs are incurred and 130,000 hours are used.a. Compute the manufacturing overhead rate for the year.b. What is the amount of under- or overapplied overhead at December 31?c. Prepare the adjusting entry to assign the under- or overapplied overhead for the year to cost of goods sold.


Paper#43303 | Written in 18-Jul-2015

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