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Calculate manufacturing overhead allocated for the period

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Question - Candy plans on using normal costing. She allocates manufacturing overhead costs using a budgeted rate per labor-hour. The following are estimates for the period:

Budgeted Manufacturing Overhead Costs $98,020

Budgeted Labor Hours 6,480

Actual Manufacturing Overhead Costs $95,000

Actual Labor Hours 6,400

Required -

1. Calculate the budgeted manufacturing overhead rate.

2. Calculate the manufacturing overhead allocated for the period.

3. Calculate the amount of under-or overallocated manufacturing overhead. Why does Candy need to calculate this amount?

Reference no: EM132908175

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