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How many machine hours did kool kayaks use

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Reference no: EM133167281

Question - The manufacturing records for Kool Kayaks at the end of 2008 fiscal year fiscal year show the following information about manufacturing overhead:

Overhead applied to production $405,000

Actual manufacturing overhead costs $430,250

Overhead allocation rate for the year $40 per machine hour

Required -

i) How many machine hours did Kool Kayaks use in 2008?

ii) Was manufacturing overhead over- or under-allocated for the year? By how much?

iii) Record the entry to close the overhead variance.

Reference no: EM133167281

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