Assignment Problem: The following data pertain to the Aquarius Hotel Supply Company for the year just ended.
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Budgeted sales revenue
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$205,000
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Budgeted manufacturing overhead
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364,000
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Budgeted machine hours (based on practical capacity)
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8,000
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Budgeted direct-labor hours (based on practical capacity)
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20,000
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Budgeted direct-labor rate per hour
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14
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Actual manufacturing overhead
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340,000
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Actual machine hours
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11,000
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Actual direct-labor hours
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18,000
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Actual direct-labor rate per hour
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16
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Required:
Question 1: Compute the firm's predetermined overhead rate for the year using each of the common cost drivers.
Question 2: Calculate the over applied or under applied overhead for the year using each of the cost drivers.
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