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Tomek Company uses a job costing system that applies factory overhead on the basis of...

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Accounting

Tomek Company uses a job costing system that applies factory overhead on the basis of direct labor hours. The company's factory overhead budget for the current year included the following estimates:
Budgeted total factory overhead $816,000
Budgeted total direct labor hours 68,000
At the end of the year, the company shows these results:
Actual factory overhead ,$833,350
Actual direct labor hours ,68,500
Required:
Compute the firm's predetermined factory overhead rate for the current year.
Calculate the amount of overapplied or underapplied overhead.
Prepare a journal entry to transfer the underapplied or overapplied overhead to the Cost of Goods Sold account.
Complete this question by entering your answers in the tabs below.
Compute the firm's predetermined factory overhead rate for the current year.
Predetermined factory overhead rate
per direct labor hour
Re: 7 ineat 1
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