The following cost data relate to the manufacturing activities of Black Company during the just...
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Accounting
The following cost data relate to the manufacturing activities of Black Company during the just completed year. $ Manufacturing overhead costs: Property taxes, factory Utilities, factory Indirect labour Depreciation, factory Insurance, factory Total actual manufacturing overhead costs 3,200 5,300 10,400 24,500 6,400 $ 49,800 $ 33,000 $ 41,400 Other costs incurred: Purchases of raw materials. Direct labour cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending S $ s 8.400 7,200 6,300 7.900 The company uses a predetermined overhead rate to apply overhead cost to production. The rate for the year was $5 per machine- hour; a total of 10,500 machine-hours were recorded for the year. All raw materials ultimately become direct materials-none are classified as indirect materials. Required: 1. Compute the amount of underapplied or overapplied overhead cost for the year
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