Solution-Calculate the overapplied and underapplied overhead

Calculate the overapplied and underapplied overhead

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Reference no: EM132463354

LM Company listed the following data for 2016:

Budgeted factory overhead	$1,143,800
Budgeted direct labor hours	86,000
Budgeted machine hours	28,595
Actual factory overhead	1,101,770
Actual direct labor hours	87,200
Actual machine hours	28,300

Required:

Question (1) Assuming KLM applied overhead based on direct labor hours, calculate the company's predetermined overhead rate for 2016.

Question (2) Assuming KLM applied overhead based on machine hours, calculate the company's predetermined overhead rate for 2016.

Question (3) If overhead is applied based on direct labor hours, calculate the overapplied/underapplied overhead.

Question (4) If overhead is applied based on machine hours, calculate the overapplied/underapplied overhead.

Reference no: EM132463354

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Calculate the overapplied and underapplied overhead

Reference no: EM132463354

Reference no: EM132463354

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