4. Change the estimated total amount of the allocation base back to 83,000 machine-hours, so that the data area of you workshelooks exactly the same as in Requirement 2. Now change the actual manufacturing overhead cost from $637,900 to $633,100. Thdata area of your worksheet should now look like this:Aв1 Chapter 3: Applying Excel2.DataAllocation baseEstimated manufacturing overhead costEstimated total amount of the allocation baseActual manufacturing overhead costActual total amount of the allocation base4Machine-hours655,70083,000 machine-hours7$633,10078,000 machine-hours8(a) By how much is the manufacturing overhead underapplied or overapplied?manufacturing overhead3.5.6.

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Description: 4. Change the estimated total amount of the allocation base back to 83,000 machine-hours, so that the data area of you workshelooks exactly the same as in Requirement 2. Now change the actual manufacturing overhead cost from $637,900 to $633,100. Th

Solution: Overhead rate = Estimated overhead / estimated machine hours = 655700/ 83000 = 7.90 per…

Business

Accounting

Allocation base Estimated manufacturing overhead cost Estimated total amount of the allocation base Actual manufacturing overhead cost Machine-hours $ 655,700 83,000 machine-hours $ 633,100 Actual total amount of the allocation base 78,000 machine-hours

Allocation base Estimated manufacturing overhead cost Estimated total amount of the allocation base Actual manufacturing overhead cost Machine-hours $ 655,700 83,000 machine-hours $ 633,100 Actual total amount of the allocation base 78,000 machine-hours

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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