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At the beginning of the year Han Company estimated the following Overhead $582400 Direct labor hours 80000 Han uses normal costing and applies overhead on

At the beginning of the year, Han Company estimated the following: Overhead.........................$582,400 Direct labor hours..................80,000 Han uses normal costing and applies overhead on the basis of direct labor hours. For the month of January, direct labor hours were 6,950. By the end of the year, Han showed the following actual amounts: Overhead.........................$613,320 Direct labor hours..................84,100 Assume that unadjusted Cost of Goods Sold for Han was $927,000. Required: 1. Calculate the predetermined overhead rate for Han. 2. Calculate the overhead applied to production in January. (Note: Round to the nearest dollar.) 3. Calculate the total applied overhead for the year. Was overhead over- or underapplied? By how much? 4. Calculate adjusted Cost of Goods Sold after adjusting for the overhead variance.

Jun 25 2020 View more View Less

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