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(Underapplied or overapplied overhead) At year-end 2013, Dub's Wind Generator Co. had a $40,000 debit balance in its Manufacturing Overhead Control account. Overhead is applied to products based on direct labor cost. Relevant account balance information at year-end follows:
Work in Process Inventory
Finished Inventory
Cost of Goods Sold
Direct material
$20,000
$ 80,000
$120,000
Direct labor
10,000
40,000
50,000
Factory overhead
20,000
80,000
100,000
$50,000
$200,000
$270,000
a. What predetermined OH rate was used during the year?
b. Provide arguments to be used for deciding whether to prorate the balance in the overhead account at year-end.
c. Prorate the overhead account balance based on the relative balances of the appropriate accounts.
d. Identify some possible reasons that the company had a debit balance in the overhead account at year-end.
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