Manufacturing overhead rate-overapplied overhead

Reference no: EM13259601

Renteria Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $305,000 for the year, and machine usage is estimated at 125,000 hourse.

For the year, $322,000 of overhead costs are incurred and 130,000 hours are used.

a.) Compute the manufacturing overhead rate for the year.

b.) What is the amount of under- or overapplied overhead at December 31?

c.) Prepare the adjusting entry to assign the under- or overapplied overhead for the year to cost of goods sold.

Reference no: EM13259601

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