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Q1) Alphonse Company assigns fixed overhead costs by machine hours and variable overhead costs by direct labor hours.  At the starting of year company expects fixed overhead costs to be= $600,000 and variable costs to be $800,000. Expected machine hours are 6,000 and expected direct labor hours are= 80,000. Actual fixed overhead costs are= $700,000 and actual variable overhead costs are $750,000. Actual machine hours during year are 5,500 and actual direct labor hours are 90,000.

a) How much overhead is assigned?

b) Determine the over/under absorbed overhead?

Accounting Basics, Accounting

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