Question

The Thomlin Company forecasts that total overhead for the current year will be $11,955,000 with 161,000 total machine hours.
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Answer #1

Answer:

a. $1353000 Under Applied.

Explanation:

Step 1:

Computation of predetermined overhead rate:

Predetermined overhead rate = Total estimated overhead / Total estimated machine hour

= $11955000 / 161000 = $74.25 i.e. $74

Step 2:

Computation of Applied overhead:

Applied overhead = 84000 machine hours x $74 = $6216000

Step 3:

Under Applied overhead = Actual overhead - Applied overhead

= $7569000 - $6216000

= $1353000 under applied.

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