Reference no: EM131002612
Assume that the following predictions were made for 2014 for one of the plants of Milliken & Company:
Total manufacturing overhead for the year $ 40,000,000
Total machine hours for the year 3,200,000
Actual results for February 2014 were as follows:
Manufacturing overhead $ 4,410,000
Machine hours 410,000
(a) Determine the 2014 predetermined overhead rate per machine hour. (Enter answer using two decimal places.)
(b) Using the predetermined overhead rate per machine hour, determine the manufacturing overhead applied to Work-in-Process during February.
(c) As of February 1, actual overhead was underapplied by $400,000. Determine the cumulative amount of any overapplied or underapplied overhead at the end of February.
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