Kingsley Products estimated that direct labor for the year would be 64,240 hours. The company also estimated that the fixed overhead cost for the year would be $160,600. They further estimated the variable overhead cost to be $4.00 per direct labor- hour. All overhead at Kingsley Products is applied on the basis of direct labor-hours. During the year, fixed overhead costs were exactly as planned ($160,600). Variable overhead was incurred at $4.50 per direct labor-hour. Underapplied overhead for the year was calculated as $18,450. Required: How many direct labor-hours were worked during the period? Note: Do not round intermediate calculations. Direct labor-hours
Kingsley Products estimated that direct labor for the year would be 64,240 hours. The company also estimated that the fixed overhead cost for the year would be $160,600. They further estimated the variable overhead cost to be $4.00 per direct labor- hour. All overhead at Kingsley Products is applied on the basis of direct labor-hours. During the year, fixed overhead costs were exactly as planned ($160,600). Variable overhead was incurred at $4.50 per direct labor-hour. Underapplied overhead for the year was calculated as $18,450. Required: How many direct labor-hours were worked during the period? Note: Do not round intermediate calculations. Direct labor-hours
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Kingsley Products estimated that direct labor for the year would be 64,240 hours. The company also estimated that the fixed
overhead cost for the year would be $160,600. They further estimated the variable overhead cost to be $4.00 per direct labor-
hour. All overhead at Kingsley Products is applied on the basis of direct labor-hours. During the year, fixed overhead costs were
exactly as planned ($160,600). Variable overhead was incurred at $4.50 per direct labor-hour. Underapplied overhead for the
year was calculated as $18,450.
Required:
How many direct labor-hours were worked during the period?
Note: Do not round intermediate calculations.
Direct labor-hours
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