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October 31, 2014

Homework Help: Accounting

Posted by jake on Wednesday, September 5, 2012 at 12:29am.

Urquhart Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $100,000 and 3,600 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $105,000 and the actual direct labor-hours were 3,800.

Instructions:
1.) If rounding is required, then round your answer to the nearest whole dollar. Rounding, if applicable, should not be done until a final answer is reached.

2.) Omit the "$" sign in your response. Do not use brackets for negative numbers. Use a minus sign for underapplied amounts and no sign for overapplied amounts.

Overhead for the year was overapplied (+) or underapplied (-) by how much?

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