Baxter corp uses a normal job order costing system with

Reference no: EM13579921

Baxter Corp uses a normal job order costing system with manufacturing overhead applied to products on the basis of direct labor hours. For the upcoming year, Baxter Corp estimated total manufacturing overhead cost at $492,000 and total direct labor hours of 41,000. During the year actual manufacturing overhead incurred was $460,700 and 40,700 direct labor hours were used.

(a)	Calculate the predetermined overhead rate. (Omit the "$" sign in your response.)

Predetermined overhead rate

(b)	Calculate how much manufacturing overhead will be applied to production. (Omit the "$" sign in your response.)

Manufacturing overhead applied

(c)	Is overhead over - or underapplied? By how much? (Input the amount as positive value. Omit the "$" sign in your response.)

Overhead

(Click to select)underapplied OR overapplied

(d)	What account should be adjusted for over - or underapplied overhead? Should the balance be increased or decreased?

(Click to select)Cost of goods sold OR Raw materials inventory OR Work in process inventory OR Finished goods inventory OR Manufacturing overhead

(Click to select)increased OR decreased

Reference no: EM13579921

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