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Determine the amount of overhead cost

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Reference no: EM131969847

Question - Diamond Company and Client Company assign manufacturing overhead to Work in Process Inventory using direct labor cost. The following information is available for the companies for the year:

Diamond Company Client Company

Actual direct labor cost $ 200,000 $ 112,500

Estimated direct labor cost $187,500 $ 125,000

Actual manufacturing overhead cost $ 72,500 $ 95,000

Estimated manufacturing overhead cost $75,000 $100,000

Required

1. Compute the predetermined overhead rate for each company.

2. Determine the amount of overhead cost that would be applied to Work in Process Inventory for each company.

3. Compute the amount of overapplied or underapplied manufacturing overhead cost for each company.

Reference no: EM131969847

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