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Author Question: Schulz Corporation applies overhead based upon machine-hours. Budgeted factory overhead was $266,400 ... (Read 71 times)

drink

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Schulz Corporation applies overhead based upon machine-hours. Budgeted factory overhead was $266,400 and budgeted machine-hours were 18,500. Actual factory overhead was $287,920 and actual machine-hours were 19,050. Before disposition of under/overapplied overhead, the cost of goods sold was $560,000 and ending inventories were as follows:

Direct materials$ 60,000
WIP190,000
Finished goods250,000
Total$500,000

Required:
a.  Determine the budgeted factory overhead rate per machine-hour.
b.  Compute the over/underapplied overhead.
c.  Prepare the journal entry to dispose of the variance using the write-off to cost of goods sold approach.
d.  Prepare the journal entry to dispose of the variance using the proration approach.


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Marked as best answer by drink on Mar 6, 2021

fwbard

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drink

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Reply 2 on: Mar 6, 2021
Gracias!


jojobee318

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Reply 3 on: Yesterday
Excellent

 

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