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Determine the amount of underapplied or overapplied overhead

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Reference no: EM132954470

Question - Randall Company manufactures products to customer specifications. A job costing system is used to accumulate production costs. Factory overhead cost was applied at 120% of direct labor cost. Selected data concerning the past year's operation of the company are presented below.

January 1 December 31

Direct materials $82,000 $45,000

Work in process 71,000 47,000

Finished goods 120,000 105,000

Other information Direct materials purchases $329,000

Cost of goods available for sale 939,000

Actual factory overhead costs 265,000

Required - Determine the amount of underapplied or overapplied overhead?

Reference no: EM132954470

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