13. If the Manufacturing Overhead account has a debit balance at the end of a period, it
14. Kimble Company applies overhead on the basis of machine hours. Given the
following data, compute overhead applied and the under- or overapplication of
overhead for the period:
Estimated annual overhead cost
Actual annual overhead cost
Estimated machine hours
Actual machine hours
During 2017, Durham Manufacturing expected Job No. 51 to cost $300,000 of
overhead, $500,000 of materials, and $200,000 in labor. Durham applied overhead
based on direct labor cost. Actual production required an overhead cost of $295,000,
$570,000 in materials used, and $220,000 in labor. All of the goods were completed.
What amount was transferred to Finished Goods?