Homework Answers
Required:
- Pre-determined overhead rate = Budgeted overhead for the year / Budgeted machine hours
= $330,000 / 2,000
= $165
- Applied overhead = Pre-determined overhead rate * Actual machine hours
= $165 * 2,400
= $396,000.
| Applied overhead | $396,000 |
| (-) Overhead incurred | ($355,000) |
| Overheads overapplied | $41,000 |
Thus, amount of overhead overapplied for the year = $41,000.
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