Homework Answers
Answer
Correct Option = D (Over allocated by $ 13,000)
Workings
1) Computation of Actual Manufacturing Overhead
Actual Manufacturing Overhead = Indirect Labor + Plant Facility Rent + Depreciation on Plant Machinery & Equipment
Actual Manufacturing Overhead = $13,000 + $ 29,000 + $ 21,000 = $ 63,000
2) Computation of Manufacturing Overhead applied
Manufacturing Overhead applied = Actual direct labor hours * Budgeted indirect cost rate
Actual Direct Labor Hours = 4,000 hours
Budgeted indirect cost rate = $ 19 per direct labor hour
Manufacturing Overhead applied = 4,000 hours * $ 19 per direct labor hour = $ 76,000
3) Computation of Over applied overhead [2 - 1]
Over applied overhead = Manufacturing overhead applied - Actual manufacturing overheads
Over applied overhead = $ 76,000 - $ 63,000 = $ 13,000
For June 2020 Manufacturing overhead is over allocated by $ 13,000.
Hence, Correct Option is D.
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Candle Corp. applies manufacturing overhead costs to products at a budgeted indirect - cost rate of $95 per direct manufacturing labor-hour. A retail outlet has requested a bid on a special order of a necklace. Estimates for this order include: Direct materials of $44,000; 250 direct manufacturing labor - hours at $30 per hour, and a 50% markup rate on total manufacturing costs. The bid price for this special order is O A. $77.250 B. $101,625 c. $60,250 OD. $112,875
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