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Calculate the amount of overhead applied in June

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Reference no: EM133055622

Question - The following data is provided for the ABC company:

Budgeted overhead for the year is $300,000

Projected direct labor cost for the year - $100,000

Estimated machine hours for the year -20,000

Estimated direct labor hours for the year - 20,000

Overhead is applied to product based on direct labor costs

During the month of June the company incurred 3000 labor hours, used 2500 machine hours and incurred $30,000 of labor costs and $75,000 of overhead costs.

A. Calculate the overhead rate.

B. Calculate the amount of overhead applied in June.

C. Calculate the over or underapplied overhead for June and explain what it means.

Reference no: EM133055622

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