Kirkaid company recorded the following transactions for the, Ask an Expert

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Kirkaid Company recorded the following transactions for the just completed month:

a. $ 84,000 in raw materials were requisitioned for used in production. Of this amount, $72,000 was for director materials and the remainder was for indirect cost.

b. Total labor wages of $ 108,000 were incurred. Of this amount, $105,000 was for direct labor and the remainder was for indirect labor.

c. Additional actual manufacturing overhead was applied to jobs.

Required:

Determine the underapplied or overapplied overhead for the month.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9800633

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