a) | Predetermined factory overhead | ||||||
= Factotry overhead cost / labor cost | |||||||
=$592500/474000 | |||||||
125% | |||||||
b) | Application of factory overhead | ||||||
Labor cost | $ 41,000 | ||||||
Factory overhead | $ 51,250 | ||||||
($41000*125%) | |||||||
Working in progress - Blending Department | $ 51,250 | ||||||
Factory overhead blending department | $ 51,250 | ||||||
c) | Balance in factory overhead blending department | ||||||
Overhead Incurred | $ 53,300 | ||||||
Less: | |||||||
Overhead Applied | $ 51,250 | ||||||
Balance | $ 2,050 | ||||||
It is under applied of overhead hence Debit Balance | |||||||
d) | Underapplied. | ||||||
Kindly give a positive rating if you are satisfied with this solution and please ask if you have any queries. | |||||||
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