Reference no: EM132967642
Question - A company has provided the following information for the upcoming year:
Estimated labor hours 15,000
Actual direct labor hours 14,500
Estimated overhead $120,000
Actual Costs
Taxes on factory $10,000
Factory maintenance $15,000
Indirect material $7,000
Factory electricity $9,500
Direct labor $50,000
Direct material $8,000
Rent on Administrative offices $30,000
Production supervisor's salary $48,500
Factory custodian's salary 28500
What is the amount of the underapplied or overapplied overhead if the company applies overhead upon labor hours?
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