Crich Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 21,880 hours and the total estimated manufacturing overhead was $516,368. At the end of the year, actual direct labor-hours for the year were 21,700 hours and the actual manufacturing overhead for the year was $516,368. Overhead at the end of the year was: (Round your intermediate calculations to 2 decimal places.)

$4,248 under applied

Explanation:

For computing the ending overhead amount we need to do following calculations which are shown below:

Predetermined overhead rate is

= Total estimated manufacturing overhead ÷ estimated direct labor-hours

= $516,368 ÷ 21,880 hours

= $23.6 per hour

Now

Actual overhead applied  is

= $23.6 ×  21,700 hours

= $512,120

Therefore,

Overhead under applied is

= Manufacturing overhead - Actual overhead applied

= $516,368 - $512,120

= $4,248 under applied

both are integral parts of a corporate balance sheet. the cash flow statement, or statement of cash flows, measures the sources of a company's cash and its uses of cash over a specific time period. the income statement measures a company's financial performance, such as revenues, expenses, profits or losses over a specific time period (in fact, it's sometimes called a statement of financial performance).

a cash flow statement shows exactly how much money a company has received and how much it has spent, traditionally over a period of one month. it captures the current operating results and changes on the balance sheet, such as increases or decreases in accounts receivable or accounts payable, and does not include noncash accounting items such as depreciation and amortization. the cash flow generally comes from revenue received as a result of business activity, but it may be augmented by funds available as a result of credit. a cash flow statement is used to determine the short-term viability and liquidity of a company, specifically how well it is positioned to pay its bills and vendors.

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