Journalize the given transactions in the books of Company MM.

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Uzo Industries estimated that machine hours for the year would be 30,000 hours and overhead (all fixed) would be $150,000. Uzo applies its overhead on the basis of machine hours. During the year, all overhead costs were exactly as planned ($150,000). There was $22,500 in over-applied overhead. How many machine-hours were worked during the period?

Answer 1

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Chapter 21, Problem 10SPA

To determine

Journalize the given transactions in the books of Company MM.

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Uzo Industries estimated that machine hours for the year would be 30,000 hours and overhead (all fixed) would be $150,000. Uzo applies its overhead on the basis of machine hours. During the year, all overhead costs were exactly as planned ($150,000). There was $22,500 in over-applied overhead. How many machine-hours were worked during the period?

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