Larned Corporation recorded the following transactions for the just completed mo

Question

Larned Corporation recorded the following transactions for the just completed month. a. $71,500 in raw materials were requisitioned for use in production. Of this amount, $61,000 was for direct materials and the remainder was for indirect materials. b. Total labor wages of $112,500 were incurred. Of this amount, $100,200 was for direct labor and the remainder was for indirect labor. c. Additional manufacturing overhead costs of $176,500 were incurred. d. A total of $187,500 in manufacturing overhead was applied to jobs. Required: Determine the underapplied or overapplied overhead for the mont

Explanation / Answer

Actual overhead = (71500 - 61000) + (112500 - 100200) + 176500 = $199300 Overhead applied = $187500 Underapplied of overhead = 199300 - 187500 = $11800 Hope this helps!

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