The following information relates to the year just ended.
Data:
Estimated total overhead costs $275,000
Estimated total direct labor hours 25,000
Actual total direct labor hours 27,760
Actual costs for the year:
Purchase of raw (direct) materials $375,000
Direct labor cost $536,300
Manufacturing overhead $302,750
Inventories: Beginning Ending
Raw (Direct) Materials $15,000 $11,375
Work in Process 27,875 22,350
Finished Goods 34,600 26,450
Required:
Use the data to fill in the following information.
(Use cells B6 to C18 from the given information, as well as A27 to C31 to complete this question. If overhead is overapplied, your answer will display as a negative value. All answers should be input as positive values.)
1. Overhead:
Actual overhead cost
Predetermined overhead rate
Actual direct labor hours
Total overhead applied
(Over) or under applied overhead