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Calculator Thomlin Company forecasts that total overhead for the current year will be $11,079,000 with 169,000 total machine
Calculator The Thomlin Company forecasts that total overhead for the current year will be $11,168,000 with 183,000 total mach
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Answer #1

1. Predetermined Overhead Rate= Budgeted overhead for the period / Budgeted basis for the period

= Budgeted Overhead Costs/ Budgeted Machine Hours

= $ 11,079,000/169000 = $ 65.55 or $ 66 per MH

Option c

2.Predetermined Overhead Rate = Budgeted Overhead for the period/Budgeted basis for the period

= Budgeted Overhead Costs/ Budgeted Machine Hours

=$ 11,168,000/183,000 = $ 61.02 or $ 61

Overheads absorbed as per machine hour rate

= Actual Machine Hours*Predetermined Overhead Rate

= 95,000×$ 61 = $ 5,795,000

Actual Overhead Costs = $ 7,858,000

Hence, $ 2,063,000 of overheads under applied. option d

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