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Calculate the total amount of underapplied

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Reference no: EM132694920

Problem - Hamilton Pty Ltd uses a standard costing system for product costing. The company uses direct labour hours as the cost overhead costs. The following amounts were budgeted for the year:

Planned production-units 50 000

Direct labour hours 200 000

Variable overhead $1 000 000

Fixed overhead $600 000

The following were the actual results: Actual production-units 48 000

Direct labour hours 195 000

Variable overhead $950 000

Fixed overhead $610 000

Required - Calculate the total amount of underapplied or overapplied manufacturing overhead.

A. $80 000 underapplied

B. $64 000 underapplied

C. $50 000 overapplied

D. $24 000 underapplied

Reference no: EM132694920

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