Homework Answers
Answer- For the current year, overhead was = Under applied overhead by $10000.
Explanation- Predetermined overhead rate = (Estimated overhead/Estimated direct labor cost)*100
= ($250000/$500000)*100
= 50%
Applied overhead = Actual direct labor cost* Predetermined overhead rate
= $510000*50%
= $255000
Under applied overhead = Actual overhead-Applied overhead
= $265000-$255000
= $10000
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