Homework Answers
Ans. *Working notes:
*Calculation of Predetermined overhead rate:
Predetermined overhead rate = Budgeted overhead / Budgeted machine hours
= $550,000 / 25,000
= $22 per machine hour
*Calculation of applied overhead cost:
Applied overhead= Actual machine hours * Predetermined overhead rate
= 24,000 * $22
= $528,000
*Calculation of over or under applied overhead:
Under applied over = Actual overhead - Applied overhead
= $555,000 - $528,000
= 27,000 under applied overhead
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Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of the year, the company estimated its total overhead cost to be $325,000 and machine hours to be 25,000. Actual manufacturing overhead and machine hours were $372,000 and 26,000, respectively. Required: 1. Compute the predetermined overhead rate. per Machine Hour Predetermined Overhead Rate 2. Compute applied manufacturing overhead. Ma Overhe 3. Compute over-or underapplied manufacturing overhead.
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