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ACC/561 ACC 561 Week 4 Wilyplus Exercise 15-5 Exercise 16-3 Exercise 17-1

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;;Question 1;Duggan Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $340,200 for the year, and machine usage is estimated at 126,000 hours.;For the year, $357,075 of overhead costs are incurred and 130,200 hours are used.;(a) Compute the manufacturing overhead rate for the year. (Round answers to 2 decimal places, e.g. 1.25.); (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. (Credit account titles are automatically indented when amount is entered. Do not indent manually.);;

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