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Accounting

Problem:

At the beginning of the year, manufacturing overhead for the year was estimated to be $363,200. At the end of the year, actual direct labor-hours for the year were 22,800 hours, the actual manufacturing overhead for the year was $351,000, and manufacturing overhead for the year was overapplied by $13,800.

Required:

Question: If the predetermined overhead rate is based on direct labor-hours, then the estimated direct labor-hours at the beginning of the year used in the predetermined overhead rate must have been:

22,700 direct labor-hours
22,800 direct labor-hours
21,075 direct labor-hours
21,938 direct labor-hours

Note: Explain all steps comprehensively.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91165612

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