Exercise 3-34 Overapplied or Underapplied Overhead (LO 3-4, 3-5)(The following information applies to the questions displayed below.]The following information pertains to Trenton Glass Works for the year just ended.Budgeted direct-labor cost: 75,000 hours (practical capacity) at $16Actual direct-labor cost: 80,000 hours at $17.50 per hourBudgeted manufacturing overhead: $997,500Actual selling and administrative expenses: 437,000perhourActual manufacturing overhead:DepreciationProperty taxesIndirect labor$234,00021,00081,000201,00059,00031,000301,00079,000Supervisory salariesUtilitiesInsuranceRental of spaceIndirect material (see data below)Indirect material:Beginning inventory, January 1Purchases during the yearEnding inventory, December 3149,00094,00064,000Exercise 3-34 Part 22. Calculate the overapplied or underapplied overhead for the year. (Round your intermediate calculations to 2 decimal placOverapplied overhead$4614,000

Name: Exercise 3-34 Overapplied or Underapplied Overhead (LO 3-4, 3-5)(The
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Description: Exercise 3-34 Overapplied or Underapplied Overhead (LO 3-4, 3-5)(The following information applies to the questions displayed below.]The following information pertains to Trenton Glass Works for the year just ended.Budgeted direct-labor cost: 75,000

When the expenses incurred are less than the budgeted expense, it is said to be overhead overapplied…

Business

Accounting

The following information pertains to Trenton Glass Works for the year just ended. Budgeted direct-labor cost: 75,000 hours (practical capacity) at $16 per hour Actual direct-labor cost: 80,000 hours at $17.50 per hour Budgeted manufacturing overhead: $997,500 Actual selling and administrative expenses: 437,000

The following information pertains to Trenton Glass Works for the year just ended. Budgeted direct-labor cost: 75,000 hours (practical capacity) at $16 per hour Actual direct-labor cost: 80,000 hours at $17.50 per hour Budgeted manufacturing overhead: $997,500 Actual selling and administrative expenses: 437,000

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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