Homework Answers
Answer-1-Predetermined overhead rate = Estimated Overheads / Estimated direct labor hours
= $360,000 / 90000 hours = $4 per direct labor hour
2-Overhead applied to production in January = Actual direct labor hours for January * Predetermined overhead rate
Overhead applied to production in January=8,550 hours *$4
=$34,200
3-Total applied overhead for the year = Actual direct labor hours for the year * Pre-determined overhead rate
Total applied overhead for the year=89,600 hours *$4
=$358,400
| Actual Overheads for the year | $366,000 |
| Applied overheads for the year | $358,400 |
| Underapplied overheads | $7,600 |
4-Cost of goods sold after adjusting the overhead variance = Unadjusted cost of goods sold + Underapplied overheads
=$576,000+$7,600
=$583,600
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Calculating the Predetermined Overhead Rate, Applying Overhead to Production, Reconciling Overhead at the End of the Year, Adjusting Cost of Goods Sold for Under- and Overapplied Overhead At the beginning of the year, Han Company estimated the following: Overhead $240,000 Direct labor hours 80,000 Han uses normal costing and applies overhead on the basis of direct labor hours. For the month of January, direct labor hours were 8,450. By the end of the year, Han showed the following actual amounts:...
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Calculating the Predetermined Overhead Rate, Applying Overhead to Production. Reconciling Overhead at the End of the Year, Adjusting Cost of Goods Sold for Underand Overapplied Overhead At the beginning of the year, Han Company estimated the following: Overhead $240,000 Direct labor hours 80,000 Han uses normal costing and applies overhead on the basis of direct labor hours. For the month of January, direct labor hours were 8,250. By the end of the year, Han showed the following actual amounts:...
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