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What formula is used to solve the given problem

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Assignment

1. Malcolm Company uses a predetermined overhead rate based on direct labor hours to apply manufacturing overhead to jobs.

On September 1, the estimates for the month were:
Manufacturing overhead...........................................................................$17,000
Direct labor hours...................................................................................13,600

During September, the actual results were:
Manufacturing overhead...........................................................................$18,500
Direct labor hours...................................................................................12,000

The cost records for September will show:

Underapplied overhead of $3,500. What formula is used to solve this problem?

Reference no: EM131779976

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