Overhead applied to jobs during the period was 270000, Ask an Expert

Accounting

Overhead applied to jobs during the period was $270,000. Actual overhead costs incurred were $268,000. Budgeted overhead used to calculate the predetermined overhead rate was $275,000.

Is the overhead over or under applied?
How much is the over or under applied overhead?
If the over applied overhead is put in cost of goods sold will it increase or decrease cost of goods sold?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9958958

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