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METROTECH INDUSTRIES HAS A PREDETERMINED OVERHEAD RATE OF 162% OF DIRECT LABOR COST. ESTIMATED OVERHEAD FOR THE PERIOD WAS $410,000. THE ACTUAL COST FOR DIRECT LABOR WAS $289,000, AND THE ACTUAL OVERHEAD WAS $463,000. • • HOW MUCH OVERHEAD WAS APPLIED? HOW MUCH WAS OVER- OR UNDER-APPLIED OVERHEAD?

METROTECH INDUSTRIES HAS A PREDETERMINED OVERHEAD RATE OF 162% OF DIRECT LABOR COST. ESTIMATED OVERHEAD FOR THE PERIOD WAS $410,000. THE ACTUAL COST FOR DIRECT LABOR WAS $289,000, AND THE ACTUAL OVERHEAD WAS $463,000. • • HOW MUCH OVERHEAD WAS APPLIED? HOW MUCH WAS OVER- OR UNDER-APPLIED OVERHEAD?

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 4TP: If a company bases its predetermined overhead rate on 100,000 machine hours, and It actually has...
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How much overhead was applied ?

METROTECH INDUSTRIES HAS A PREDETERMINED OVERHEAD RATE OF 162% OF DIRECT LABOR COST. ESTIMATED OVERHEAD FOR THE PERIOD WAS $410,000. THE ACTUAL COST FOR DIRECT LABOR WAS $289,000, AND THE ACTUAL OVERHEAD WAS $463,000. • • HOW MUCH OVERHEAD WAS APPLIED? HOW MUCH WAS OVER- OR UNDER-APPLIED OVERHEAD?
Transcribed Image Text:METROTECH INDUSTRIES HAS A PREDETERMINED OVERHEAD RATE OF 162% OF DIRECT LABOR COST. ESTIMATED OVERHEAD FOR THE PERIOD WAS $410,000. THE ACTUAL COST FOR DIRECT LABOR WAS $289,000, AND THE ACTUAL OVERHEAD WAS $463,000. • • HOW MUCH OVERHEAD WAS APPLIED? HOW MUCH WAS OVER- OR UNDER-APPLIED OVERHEAD?
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