Author Question: Mirada Manufacturing produces pumps for residential swimming pools. For the year, management ... (Read 13 times)

frosh101 · **on:** Feb 5, 2023

Mirada Manufacturing produces pumps for residential swimming pools. For the year, management estimated that total manufacturing overhead would be $1,488,000. Management decided to use direct labor hours to apply manufacturing overhead and budgeted 62,000 direct labor hours. The balance in over- or underapplied overhead is deemed to be small. The following information was compiled before an adjustment had been made to close Manufacturing Overhead Control:

Raw Materials Inventory

$304,291

Work in Process Inventory

$337,997

Finished Goods Inventory

$756,362

Actual direct labor hours used

68,970

Actual overhead incurred

$1,434,576

For the year, manufacturing overhead was
◦ $144,976 overapplied.
◦ $144,976 underapplied.
◦ $220,704 underapplied.
◦ $220,704 overapplied.

gyvette · **Reply #1 on:** Feb 5, 2023

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