Homework Answers
Predetermined overhead rate = Estimated manufacturing overhead / Estimated direct labour hours
= $408,000 / 20,400
= $20
Applied manufacturing overhead = Actual labour hours X Predetermined overhead rate
= 21,400 X $20
= 428,000
Applied manufacturing overhead - Actual manufacturing overhead = Over applied overhead
$ 428,000 - $419,600 = $8,400
Cost of goods sold would be credited by $8,400
2nd option.
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