Reference no: EM132959259
Question - Stanley Company applies overhead based on machine hours. The following data was available:
Budgeted factory overhead costs $280,000
Budgeted machine hours 20,000
Actual factory overhead costs $292,000
Actual machine hours 19,050
Cost of goods sold $560,000
Direct materials inventory, ending balance $60,000
Work-in-process inventory, ending balance $190,000
Finished goods inventory, ending balance $250,000
Required -
A) Compute the budgeted factory overhead rate.
B) Compute the underapplied or overapplied factory overhead.
C) Under the immediate write-off approach to overhead variances, how would you dispose of the overhead variance?
D) If the immediate write-off approach to overhead variances is not used, how would you dispose of the overhead variance?
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