Reference no: EM132996389
Problem 1: Kimble Company applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under- or overapplication of overhead for the period:
Estimated annual overhead cost $1,600,000
Actual annual overhead cost $1,575,000
Estimated machine hours 400,000
Actual machine hours 390,000
Group of answer choices
Option 1: $1,560,000 applied and $15,000 overapplied
Option 2: $1,560,000 applied and $15,000 underapplied
Option 3: $1,575,000 applied and neither under-nor overapplied
Option 4: $1,600,000 applied and $15,000 overapplied
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