Mod 2 Test 2 - Test 2 Q2 Application Rate (Divide) Budgeted...

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Test 2 Q2 Application Rate Budgeted Overhead $624,720 Total Rate (Divide) Budgeted Cost Machine Hrs $76,000 822% Budgeted Activity Level (Main Idea Cost) Q3 Application Rate Budgeted Overhead $775,500 Total Rate (Divide) Budgeted Cost Machine Hrs $550,000 1.41 Budgeted Activity Level (Main Idea Cost) Actual Activity Level Applied Overhead = Application Rate (x) Actual Direct Labor Total 1.41 $582,000 $820,620.00 Q4 See Paper Q5 Application Rate Budgeted Overhead $624,720 Total Rate (Divide) Budgeted Cost Machine Hrs $76,000 8.22 Budgeted Activity Level (Main Idea Cost) Actual Activity Level Applied Overhead = Application Rate (x) Actual Direct Labor Total 8.22 $78,500 $645,270.00 Applied Overhead (+) Material Cost (+) Labor Cost (=) Total Job $645,270.00 $645,270 Application of Overhead Account Title Debt Credit WIP Inventory $645,270.00 Manufacturing OH $645,270.00 Over Applied or Under Applied Actual Overhead $638,000 (-) Applied OH $645,270 Total (Disposal of Varienace) -$7,270 Positive Outcome = Underapplied
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