April 16, 2014

Homework Help: accounting

Posted by sally on Saturday, September 8, 2012 at 4:49pm.

The following cost data relate to the manufacturing activities of Black Company during the just completed year:

Manufacturing overhead costs:
Property taxes, factory $ 3,000
Utilities, factory 4,800
Indirect labor 9,900
Depreciation, factory 23,900
Insurance, factory 5,800

Total actual manufacturing overhead costs $ 47,400

Other costs incurred:
Purchases of raw materials $ 31,600
Direct labor cost $ 39,600
Raw materials, beginning $ 8,400
Raw materials, ending $ 6,400
Work in process, beginning
$ 5,400
Work in process, ending $ 7,900

The company uses a predetermined overhead rate to apply overhead cost to jobs. The rate for the year was $5 per machine-hour; a total of 12,000 machine-hours was recorded for the year. All raw materials ultimately become direct materials—none are classified as indirect materials.

Compute the amount of underapplied or overapplied overhead cost for the year. (Input the amount as a positive value.)

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