Assume the following: Actual overhead costs equaled estimated overhead. Actual direct labor hours exceeded estimated direct labor hours used to calculate the predetermined overhead rate. If overhead is applied using the predetermined overhead rate, then overhead is
A. 0
B. underapplied
C. overapplied
D indeterminable from information given

Question

30-11-2022
Business

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Assume the following: Actual overhead costs equaled estimated overhead. Actual direct labor hours exceeded estimated direct labor hours used to calculate the predetermined overhead rate. If overhead is applied using the predetermined overhead rate, then overhead is
A. 0
B. underapplied
C. overapplied
D indeterminable from information given

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Qwcircle Qwcircle · Answer 1 · 2022-12-02T21:03:55+01:00

Option C is the correct answer. When the overhead is applied using the predetermined overhead rate, then the overhead is overapplied.

In the question, it is stated that the actual overhead cost equals the estimated overhead and Actual direct labor hours exceeded the estimated labor hours used to calculate the predetermined overhead rate. Since all the quantities exceed the estimated ones and the predetermined overhead rate is applied, overhead is overapplied.

The pre-determined overhead rate is estimated before the period begins. It starts with analyzing the activity base required to support operations in the period.

Hence, the correct answer is Option C.

To know more about the Pre-determined Overhead rate, Click here:

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