Homework Answers
(a) Total Factory Overhead applied :
$ 846,400 / 36,800 hours
= $ 23
Total machine hours for the year = 54,900
Applied Overhead =54,900 x $ 23 = $ 1,262,700
(b) Actual factory overhead = $1,255,000
Over applied overhead = $ 1,262,700 - $ 1,255,000 = $ 7,700
(c) Cost of Goods Sold 7,700
Factory Overhead 7,700
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