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By how much is overhead under- or overapplied for the year

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Reference no: EM132941147

Question - Capalbo Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 52,000 labor-hours. The estimated variable manufacturing overhead was $2.78 per labor-hour and the estimated total fixed manufacturing overhead was $1,192,360. The actual labor-hours for the year turned out to be 52,600 labor-hours. Actual costs for the year turned out to be $1,323,400. By how much is overhead under- or overapplied for the year?

Reference no: EM132941147

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