Homework Answers
a.
Predetermined factor overhead rate:
= $470,600 / $362,000
= 130%
b.
Applied factory overhead:
= $31,000 X 130%
= $40,300
| Accounts | Debit | Credit |
| Work in process-Blending department | $40,300 | - |
| Factory overhead-Blending department | - | $40,300 |
c.
Actual factor overhead incurred is $41,900 but only $40,300 is applied.
Underapplied overhead = $41,900 - $40,300
= $1,600
Amount: $1,600
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