The following data pertain to the Oneida Restaurant Supply Company for the year just ended....
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Accounting
The following data pertain to the Oneida Restaurant Supply Company for the year just ended.
Budgeted sales revenue
$
200,000
Actual manufacturing overhead
338,000
Budgeted machine hours (based on practical capacity)
8,000
Budgeted direct-labor hours (based on practical capacity)
20,000
Budgeted direct-labor rate
$
13
Budgeted manufacturing overhead
$
364,000
Actual machine hours
11,000
Actual direct-labor hours
18,000
Actual direct-labor rate
$
15
Exercise 3-35 Part 1
Required:
1. Compute the firms predetermined overhead rate for the year using each of the following common cost drivers: (a) machine hours, (b) direct-labor hours, and (c) direct-labor dollars. (Round your answers to 2 decimal place.)
2. Calculate the overapplied or underapplied overhead for the year using each of the following cost drivers. (Round intermediate calculation to 2 decimal places.)
Cost Drivers Overhead Rate (a) Machine hours |(b) Direct-labor hours (c) Direct-labor dollars per machine hour per direct-labor hour per direct-labor dollar Amount Cost Drivers |(a) Machine hours |(b) Direct-labor hours (c) Direct-labor dollars
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