Flagler company allocates overhead based on machine hours

Assignment Help Accounting Basics

Reference no: EM13602799

Flagler Company allocates overhead based on machine hours. They estimated overhead costs for the year to be $420,000. Estimated machine hours were 50,000. Actual hours and costs for the year were 46,000 machine hours and $380,000 of overhead.

Required:

a. Calculate the overhead application rate for the year.
b. What is the amount of applied overhead for the year?
c. What is the amount of under or overapplied overhead for the year? Indicate whether it is over- or underapplied.

Reference no: EM13602799

Questions Cloud

How can your role as an accountant ensure that the : you know that both internal and external users have not only the short-term success but also the long-term success of

Jeremy earned 100000 in salary and 6000 in interest income : jeremy earned 100000 in salary and 6000 in interest income during the year. jeremy has two qualifying dependent

A software development process that was characterized as a : a software development process that was characterized as a series of prototyping efforts with an emphasis on risk

First state bank paid interest to levi co on a certificate : 1.beth mays purchased an automobile from mills bros. auto sales for 9000.2.bill becham loaned 15000 to the business in

Flagler company allocates overhead based on machine hours : flagler company allocates overhead based on machine hours. they estimated overhead costs for the year to be 420000.

Executives of studio recordings inc produced the latest : executives of studio recordings inc produced the latest compact disc by the starshine sisters band titled

On december 31 year three fairfields auditors raise : on december 31 year three fairfields auditors raise concerns that the plants market value might be below its net book

The group product manager for ointments at american : the group product manager for ointments at american therapeutic corporation was reviewing price and promotion

Kaye company acquired 100 of fiore company on january 1 : kaye company acquired 100 of fiore company on january 1 2009. kaye paid 1000 excess consideration over book value which

User Account

All Pages