2 Retu
Part 2 of 3
1
points
Required information
Exercise 3-34 Overapplied or Underapplied Overhead (LO 3-4,3-5)
(The following information applies to the questions displayed below.)
The following information pertains to Trenton Glass Works for the year just ended.
Budgeted direct-labor cost: 75,000 hours (practical capacity) at $16 per hour
Actual direct-labor cost: 80,000 hours at $17.50 per hour
Budgeted manufacturing overhead: $997,500
Actual selling and administrative expenses: 437,000
Actual manufacturing overhead:
Depreciation
Property taxes
Indirect labor
Supervisory salaries
Utilities
Insurance
Rental of space
Indirect material (see data below)
Indirect material:
Beginning inventory, January 1
Purchases during the year
Ending inventory, December 31
$234,000
21,000
81,000
201,000
59,000
31,000
301,200
79,000
49,000
94,000
64,000
Exercise 3-34 Part 2
2. Calculate the overapplied or underapplied overhead for the year. (Round your intermediate calculations to 2 decimal places.)
.
Answer is complete but not entirely correct.
Overapplied overhead
$
614.000 $