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A manufacturing company applies factory overhead.

A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $360,000 and direct labor hours would be 45,000. Actual factory overhead costs incurred were $377,200 and actual direct labor hours were 47,000. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year?

1) $1,200 overapplied

2) $16,000 underapplied

3) $1,200 underapplied

4) $16,000 overapplied

May 24 2018 View more View Less

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