Reyes Corporation apples overhead using an actual costing approach Budgeted factory overhead was $268.704, budgeted machine-hours were 18,660. Actual factory overhead was $288,720, actual machine-hours were 19.210. How much is the over- or underappled overhead? Mutiple Choice $20.016 underppled S7920 overappled $12.00 underapoled

Reyes Corporation apples overhead using an actual costing approach Budgeted factory overhead was $268.704, budgeted machine-hours were 18,660. Actual factory overhead was $288,720, actual machine-hours were 19.210. How much is the over- or underappled overhead? Mutiple Choice $20.016 underppled S7920 overappled $12.00 underapoled

Name: Reyes Corporation applies overhead using an actual costing epproach.
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Description: Reyes Corporation applies overhead using an actual costing epproach. Budgeted factory overhead was $268.704, budgeted mechine-hours were18,660. Actual factory overhead was $288,720, actual machine-hours were 19.210. How much is the over- or underapp

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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TB MC Qu. 7-84 (Algo) Reyes Corporation applies overhead using a normal... Reyes Corporation applies overhead using a normal costing approach based upon machine-hours. Budgeted factory overhead was $271,872, budgeted machine-hours were 18,880. Actual factory overhead was $289,820, actual machine-hours were 19,430. How much is the over- or underapplied overhead? Multiple Choice : A) $5,841 overapplied. B) $0. C) $10,028 underapplied. D) $15,869 underapplied.
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EXERCISES Variable costing versus absorption costing Yellowstone Fabricators uses a process cost system and applies actual factory overhead to work in process at the lend of the month. The following data came from the records for March: E10-1 L01 Direct materials.... $200,000 Direct labor. $100,000 Variable factory overhead.. $ 80,000 Fixed factory overhead. $ 60,000 Similar to $ 40,000 25,000 Recall and Review 1 Selling and administrative expenses Units produced... Units sold... 20,000 Selling price per unit... $25 There were no beginning inventories and no ending work in process inventory. From the information presented, compute the following: 1. Unit cost of production under absorption costing and variable costing. 2. Cost of the ending inventory under absorption costing and var- iable costing. Comparative income statements-variable and absorption costing Using the information presented in E10-1, prepare comparative income statements for March (a) under absorption costing and (b)…
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