Jackson Inc. listed the following data for 2019: $1,505,000 Budgeted factory overhead Budgeted direct labor hours ৪6,000 Budgeted machine hours Actual factory overhead Actual direct labor hours 43,000 1,402,000 88,300 Actual machine hours 41,400 If overhead is applied based on machine hours, the overapplied/underapplied overhead is (round calculations to 2 significant digits): Multiple Choice $49,059 overapplied. $47.000 underapplied. S-0-. $47,000 overapplied. $49,059 underapplied.
Jackson Inc. listed the following data for 2019: $1,505,000 Budgeted factory overhead Budgeted direct labor hours ৪6,000 Budgeted machine hours Actual factory overhead Actual direct labor hours 43,000 1,402,000 88,300 Actual machine hours 41,400 If overhead is applied based on machine hours, the overapplied/underapplied overhead is (round calculations to 2 significant digits): Multiple Choice $49,059 overapplied. $47.000 underapplied. S-0-. $47,000 overapplied. $49,059 underapplied.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Concept explainers
Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
Topic Video
Question
![Jackson Inc. listed the following data for 2019:
Budgeted factory overhead
Budgeted direct labor hours
Budgeted machine hours
$1,505,000
৪6,000
43,000
Actual factory overhead
Actual direct labor hours
1,402,000
৪৪,300
41,400
Actual machine hours
If overhead is applied based on machine hours, the overapplied/underapplied overhead is (round calculations to 2 significant
digits):
Multiple Choice
$49,059 overapplied.
$47000 underapplied.
O s-0-
$47000 overapplied.
$49.059 underapplied.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6dada852-93ad-4681-bffa-2287b4dd9f5e%2Fcfbc7b87-31b8-4411-87dd-6eef208a229a%2Foeztqxq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Jackson Inc. listed the following data for 2019:
Budgeted factory overhead
Budgeted direct labor hours
Budgeted machine hours
$1,505,000
৪6,000
43,000
Actual factory overhead
Actual direct labor hours
1,402,000
৪৪,300
41,400
Actual machine hours
If overhead is applied based on machine hours, the overapplied/underapplied overhead is (round calculations to 2 significant
digits):
Multiple Choice
$49,059 overapplied.
$47000 underapplied.
O s-0-
$47000 overapplied.
$49.059 underapplied.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education