On January 1, PBDKCT113 Corp. estimated its total overhead for the upcoming year to be $300,000 and its total machine hours to be 30,000, PBDKCT113's actual machine hours for the year were 28,590. The company uses job-order costing with machine hours as the allocation base. At the end of the year, the PBDKCT113's books reveal following actual results: Advertising Expense $5,700 Direct Labor $22,600 (ID#99443) Purchases of Raw Materials $15,200 Rent, Factory Building $51,800 Indirect Labor $45,700 Sales Commissions $8,900 Utilities, Factory $14,000 Maintenance, Factory Equipment $9,700 CEO Salary $7,100 Depreciation, Factory Equipment $12,800 Q: What is PBDKCT113's amount of over- or under-applied OH? (Enter just the amount) A: $

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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.