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Calculate the overapplied and underapplied overhead

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Reference no: EM132463354

LM Company listed the following data for 2016:

Budgeted factory overhead

$1,143,800

Budgeted direct labor hours

86,000

Budgeted machine hours

28,595

Actual factory overhead

1,101,770

Actual direct labor hours

87,200

Actual machine hours

28,300

Required:

Question (1) Assuming KLM applied overhead based on direct labor hours, calculate the company's predetermined overhead rate for 2016.

Question (2) Assuming KLM applied overhead based on machine hours, calculate the company's predetermined overhead rate for 2016.

Question (3) If overhead is applied based on direct labor hours, calculate the overapplied/underapplied overhead.

Question (4) If overhead is applied based on machine hours, calculate the overapplied/underapplied overhead.

Reference no: EM132463354

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