The Tomlin Company forecasts that the total overhead for the current year will be $15,000,000 and that the total machine hour will be 200,000 hours. Year to date, the actual overhead is $15,000,000 and the actual machine hours are 220,000 hours. If the Tomlin company uses a predetermined overhead rate based on machine hours of applying overhead, as of this point in time (year to date) the overhead is over/under applied by: a. $1,000,000 over b. $1,000,000 under c. $500,00 over d. 500,000 under

The Tomlin Company forecasts that the total overhead for the current year will be $15,000,000 and that the total machine hour will be 200,000 hours. Year to date, the actual overhead is $15,000,000 and the actual machine hours are 220,000 hours. If the Tomlin company uses a predetermined overhead rate based on machine hours of applying overhead, as of this point in time (year to date) the overhead is over/under applied by: a. $1,000,000 over b. $1,000,000 under c. $500,00 over d. 500,000 under

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter7: The Master Budget And Flexible Budgeting

Section: Chapter Questions

Problem 23Q: If a factory operates at 100% of capacity one month, 90% of capacity the next month, and 105% of...

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