ACCT 2101 Chapter : Additional Overhead Problems Chapter 2
Document Summary
The following information pertains to specialty fittings inc. for. $ 997,500: compute the firm"s predetermined overhead rate, which is based on direct labor hours, calculate the over or under applied overhead for 2002, prepare the journal entry necessary to close out the. Assume that the amount of the over or under applied overhead is immaterial. The following selected information was extracted from the cost records of breitman corporation. Breitman calculates its predetermined overhead rate based on direct labor hours. Required: calculate breitman"s predetermined overhead rate, what is the amount of overhead applied to production by. Breitman this period and determine whether overhead was over or under applied: make the journal entry to close out the over or under applied overhead as determined above. Foster estimate that its overhead rate for 2004 will be . 00 and the activity base for 2004 will be 300,000 units.