Predetermined overhead rate
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Williams Inc. estimated overhead to be $440000 and direct labor hours to be 100,000 for the year. Actual direct labor ended up being 120,000. Actual overhead for the year amounted for $500,000.
What is the predetermined overhead rate?
What is the applied overhead for the year?
What is the amount of under-or over-applied overhead at the end of the year?
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Response discusses computation of predetermined overhead rate.
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Williams Inc. estimated overhead to be $440000 and direct labor hours to be 100,000 for the year. Actual direct labor ended up being 120,000. Actual overhead for the year amounted ...
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