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- Download: http://solutionzip.com/downloads/duggan-company/
- Exercise 15-5
- Duggan Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $353,920 for the year, and machine usage is estimated at 126,400 hours.
- For the year, $368,283 of overhead costs are incurred and 130,100 hours are used.
- (a)
- Compute the manufacturing overhead rate for the year. (Round answers to 2 decimal places, e.g. 1.25.)
- Manufacturing overhead rate
- $
- _________per machine hour
- (b) What is the amount of under or over-applied overhead at December 31?
- (c) Prepare the adjusting entry to assign the under or over-applied overhead for the year to cost of goods sold.
- Download: http://solutionzip.com/downloads/duggan-company/
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