Business, 23.09.2021 09:50 ishrael2001

Hamilton Company uses job-order costing. Manufacturing overhead is applied using a predetermined rate of 150% of direct labor cost. Any underapplied or overapplied manufacturing overhead is closed to Cost of Goods Sold at the end of each month. Additional information is available as follows:

Job 101 was the only job in process at January 31. The job cost sheet for this job contained the following costs at the beginning of the month:
Direct materials $4000,
Direct labor $2000,
Applied manufacturing overhead $3000
Jobs 102, 103, and 104 were started during February.

Direct materials requisitions for February totaled $26,000.
Direct labor cost of $20,000 was incurred for February.
Actual manufacturing overhead was $32,000 for February.
The only job still in process at February 28 was Job 104, with costs of $2,800 for direct materials and $1,800 for direct labor.

For the month of February, the manufacturing overhead was:

a. $700 overapplied
b. $1000 overapplied
c. $2000 overapplied
d. $2000 underapplied

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