1 Chapter 3: Applying Excel 3 Data Machine-hours $300,000 4 Allocation base s Es

Question

1 Chapter 3: Applying Excel 3 Data Machine-hours $300,000 4 Allocation base s Estimated manufacturing overhead cost 6 Estimated total amount of the allocation base 75,000 machine-hours 7 Actual manufacturing overhead cost 8 Actual total amount of the allocation base $290,000 68,000 machine-hours 10 Enter a formula into each of the cellis marked with a 7 below 12 Computation of the predetermined overhead rate 13 Estimated manufacturing overhead cost 14 Estimated total amount of the allocation base 15 Predetermined overhead rate 16 ? machine-hours ? per machine-hour 17 Computation of underapplied or overapplied manufacturing overhead 18 Actual manufacturing overhead cost 19 Manufacturing overhead cost applied to Work in Process during the year 20 Predetermined overhead rate 1 Actual total amount of the allocation base 22 Manufacturing overhead applied 23 Underapplied (overapplied) manufacturing overhead 24 ? per machine-hour ? machine-hours H Chapter 3 Form Filled in Chapter 3 Form Chapter 3 Formulas

Explanation / Answer

Computaion of predetermined overhead rate: Formula Estimated manufacturing overhead cost 300000 =B5 Estimated total amount of allocation base 75000 machine-hours =B6 Predetermined overhead rate: 4 per machine-hour =B5/B6 Underapplied or overapplied: Actual manufacturing overhead cost 290000 =B7 Manufacturing overhead cost applied to Work in process: Predetermined overhead rate 4 per machine-hour =B15 Actual amount of allocation base 68000 machine-hours =B8 Manufacturing overhead applied 272000 =B20*B21 Underapplied (overapplied) manufacturing overhead 18000 Underapplied =B18-B22

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