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Rent80,000The amount of overapplied or underapplied overhead isa.$65,200 underapplied.b.$60,000 overapplied.c.$50,000 overapplied.d.$10,000 underapplied.____8.The following information pertains to Black Corporation for 2010:Estimated total overhead costs for 2010$37,500Estimated direct labor costs for 201025,000Actual direct labor costs22,500Actual overhead costs36,000Activity baseDirect labor costsWhat is the predetermined overhead rate for Black Corporation for 2010?____9.The following information is provided for the year:Actual overhead$450,000Actual machine hours worked25,000Budgeted machine hours27,500Applied overhead$487,500If normal costing is used, budgeted overhead used to calculate the predetermined rate would be____10.Long Industries uses a job-order costing system. The Molding Department applies overhead based on machine hours, while the Assembly Department applies overhead based on direct labor hours. The company made the following estimates at the beginning of the current year:MoldingAssemblyManufacturing overhead cost$600,000$400,000Machine hours10,0004,000Direct labor hours12,00016,0007 October 2016Page 3 of 16 d870c672682145783dfd25500f2f00497bc49363.rt
The following information was available for Job No. 7-29, which was started and completed during July:Job No. 7-29MoldingAssemblyDirect materials$3,500$ 7,500Direct labor$9,000$12,500Direct labor hours9001,250Machine hours500400The predetermined overhead rate for the molding department is____11.Account balances are as follows:Manufacturing overhead$240,000underappliedWork in process100,000Finished goods300,000Cost of goods sold800,000If underapplied or overapplied overhead is material and is allocated to Work in Process, Finished Goods, and Cost of Goods Sold (based on ending account balances), Cost of Goods Sold after adjustment would have a balance ofa.$1,440,000.b.$640,000.c.$1,040,000.d.$960,000.____12.Which of the following is NOT a limitation of a plantwide or departmental overhead rate?____13.More accurate product costing information is produced by assigning costs using7 October 2016Page 4 of 16 d870c672682145783dfd25500f2f00497bc49363.rt