Company X is a manufacturer of smart phone screens. The company uses a job-order costing system. The company applies manufacturing overhead based on the number of machine hours. At the beginning of the period, Company X estimated total manufacturing overhead to be $500,000. The company also estimates total machine hours to be $80,000. During the period, the company performed one job, JOB-123. The total actual machine hours used by the job was 85,000 hours. Assume that the actual manufacturing overhead was $550,000, the manufacturing overhead status by the end of the period would be: O a. Underapplied by $18,750 O b. Overapplied by $34,375 O c. Underapplied by $32,352 d. Underapplied by $31,250 e. Overapplied by $50,000

Company X is a manufacturer of smart phone screens. The company uses a job-order costing system. The company applies manufacturing overhead based on the number of machine hours. At the beginning of the period, Company X estimated total manufacturing overhead to be $500,000. The company also estimates total machine hours to be $80,000. During the period, the company performed one job, JOB-123. The total actual machine hours used by the job was 85,000 hours. Assume that the actual manufacturing overhead was $550,000, the manufacturing overhead status by the end of the period would be: O a. Underapplied by $18,750 O b. Overapplied by $34,375 O c. Underapplied by $32,352 d. Underapplied by $31,250 e. Overapplied by $50,000

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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