Homework Answers
factory overhead rate using machine hours as a cost driver = $2,000,000 / 4,000 machine hours
=>$500 per machine hour.
factory overhead rate using predetermined factory overhead rate using direct labor cost as a cost driver.
=>$2,000,000/450,000
=>$4.44 per direct labor dollar.
3. if machine hours cost driver is used = overhead applied = 4300 hours *$500 =>$2,150,000.
over applied overhead =2,150,000 - 2,100,000=>$50,000 over applied.
if direct labor cost is used as cost driver = ($420,000*4.44)=>$1,864,800.
under applied overhead = $1,864,800 - 2,100,000
=>$235,200 under applied.
4. calculation of net income.
| sale price ($80*400,000) | 3,200,000 |
| less: direct material cost | (400,000) |
| less: direct labor cost | (420,000) |
| less:actual manufacturing overhead | (2,100,000) |
| less: selling expenses | (400,000) |
| less: total general and administrative expenses | (600,000) |
| net income (loss) | (720,000.) |
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