Reference no: EM133114037
Question - Assume that the following predictions were made for last year for one of the plants of Milliken & Company:
Total manufacturing overhead for the year $15,000,000
Total machine hours for the year 1,200,000
Actual results for February were as follows:
Manufacturing overhead $1,238,500
Machine hours 98,500
(a) Determine the predetermined overhead rate per machine hour.
(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 overapplied by $35,000. Determine the cumulative amount of any overapplied or underapplied overhead at the end of February.
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