How to explain the amount of under or over applied overhead, Accounting Basics

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How to explain the amount of under or over applied overhead

During 2011, Madison Company applied overhead using a job-order costing system at a rate of $12 per direct labor hours. Estimated direct labor hours for the year were 150,000, and estimated overhead for the year was $1,800,000. Actual direct labor hours for 2011 were 140,000 and actual overhead was $1,670,000.

What is the amount of under or over applied overhead for the year?

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Accounting Basics: How to explain the amount of under or over applied overhead

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Accounting Basics: How to explain the amount of under or over applied overhead

Reference No:- TGS0708755

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Identify the assumption

Q : Compute the market price of the bonds

Q : What recommendations would you make for this business

Q : Prepaid journal account is before adjustment

Q : How to explain the amount of under or over applied overhead

Q : How to calculate the annual rate of return

Q : How to calculate pennys deduction for the racing expenses

Q : Identify the typical costs included in the cash purchase

Q : Determine the amount borrowed by gruzik

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: How to explain the amount of under or over applied overhead

Reference No:- TGS0708755

Recent Questions Asked Accounting Basics

Q : Identify the assumption

Q : Compute the market price of the bonds

Q : What recommendations would you make for this business

Q : Prepaid journal account is before adjustment

Q : How to explain the amount of under or over applied overhead

Q : How to calculate the annual rate of return

Q : How to calculate pennys deduction for the racing expenses

Q : Identify the typical costs included in the cash purchase

Q : Determine the amount borrowed by gruzik

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