Homework Answers
Answers
- Requirement 1
>Predetermined Overhead rate = $
7,000,000 overhead / 250000 machine hours = $ 28 per MH
>Machine hours consumed = $ 7280000 credited in the account / $
28 rate = 260,000
- Requirement 2
Actual Overhead cost = $ 6,906,961 (the amount debited to the overhead control account) - Requirement 3
The company OVERAPPLIED overhead by $ 373,039 [$ 7280000 – 6906961]
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