A company expected its annual overhead costs to be $40,000 and direct labor hours to be...
Homework Answers
Answer- Predetermined overhead rate = $2 per hour.
Applied overhead = $36000.
Under applied overhead = $2000.
Explanation- Predetermined overhead rate for overhead costs = Total estimated overhead costs / Budgeted direct labor hours
= $40000/20000 hours
= $2 per hour
Amount of applied overhead = Predetermined overhead rate* Actual labor hours
= $2 per hour*18000 labor hours
= $36000
Under applied overhead = Actual overhead - Applied overhead
= $38000 - $36000
= $2000
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company expected its annual overhead costs to be $40,000 and direct
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dukes company used predetermined overhead rate of 2
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