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Why do need to use factory overhead application rate

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Reference no: EM132560698

                                                      Estimated                     Actual (Occured)

Factory supervision                                 S 50,000                   S 51,000

Indirect labor                                      115,000                         99,000

Inspection                                             70,000                       73,000

Maintenance                                           35,000                            39,000

Indirect material                                      25,000                            20,000

Heat, Light, power                                      20,000                         18,000

Depreciation                                                35,000                      35,000

Miscellaneous factory overhead                       10,000                      3,000

Total Factory Overhead                                  S 360.000               TL S 338,000

Total Direct Labor Hours                               144,000 DIS                121,500DIS

Required:

Question 1: Compute factory overhead application rate

Question 2: Determine the over- or underapplied overhead for the year

Question 3: Why do we need to use factory overhead application rate ? Explain.

Reference no: EM132560698

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