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Lakeside Inc. estimated manufacturing overhead costs for 2014 at $378,000, based on 180,000 estimated direct labor hours. Actual direct labor hours for 2014 totaled 195,000. The manufacturing overhead account contains debit entries totaling $391,500. The manufacturing overhead for 2014 was (Round your immediate calculations to one decimal place) a) $18,000 overallocated b) $31,500 underallocated c) $18,000 underallocated d) $31,500 overallocated

Lakeside Inc. estimated manufacturing overhead costs for 2014 at $378,000, based on 180,000 estimated direct labor hours. Actual direct labor hours for 2014 totaled 195,000. The manufacturing overhead account contains debit entries totaling $391,500. The manufacturing overhead for 2014 was (Round your immediate calculations to one decimal place) a) $18,000 overallocated b) $31,500 underallocated c) $18,000 underallocated d) $31,500 overallocated

FINANCIAL ACCOUNTING
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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Lakeside Inc. estimated manufacturing overhead costs for 2014 at $378,000, based on 180,000 estimated direct labor hours. Actual direct labor hours for 2014 totaled 195,000. The manufacturing overhead account contains debit entries totaling $391,500. The manufacturing overhead for 2014 was (Round your immediate calculations to one decimal place) a) $18,000 overallocated b) $31,500 underallocated c) $18,000 underallocated d) $31,500 overallocated
Transcribed Image Text:Lakeside Inc. estimated manufacturing overhead costs for 2014 at $378,000, based on 180,000 estimated direct labor hours. Actual direct labor hours for 2014 totaled 195,000. The manufacturing overhead account contains debit entries totaling $391,500. The manufacturing overhead for 2014 was (Round your immediate calculations to one decimal place) a) $18,000 overallocated b) $31,500 underallocated c) $18,000 underallocated d) $31,500 overallocated
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