During 2011 magus company applied overhead using a, Ask an Expert

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During 2011, Magus Company applied overhead using a job-order costing system at a rate of $12 per direct labor hours. Estimated direct labor hours for the year were 150,000, and estimated overhead for the year was $1,800,000. Actual direct labor hours for 2011 were 140,000 and actual overhead was $1,700,000.

What is the amount of under or over applied overhead for the year?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M975495

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