Jones Corporation applies manufacturing overhead on the basis of direct labor- hours. Jones based its predetermined overhead rate for the upcoming year on total estimated overhead of $243,300 and 8,300 estimated direct labor-hours. At the end of the year, Jones actual manufacturing overhead for the year amounted to $244,400 and actual direct labor-hours were 5,800. Q: What was Jones overhead for the year? (Round your intermediate calculations to 2 decimal places.) A. 74402 underapplied B.73302 underapplied C.74402 overapplied d. 73302 overapplied

Jones Corporation applies manufacturing overhead on the basis of direct labor- hours. Jones based its predetermined overhead rate for the upcoming year on total estimated overhead of $243,300 and 8,300 estimated direct labor-hours. At the end of the year, Jones actual manufacturing overhead for the year amounted to $244,400 and actual direct labor-hours were 5,800. Q: What was Jones overhead for the year? (Round your intermediate calculations to 2 decimal places.) A. 74402 underapplied B.73302 underapplied C.74402 overapplied d. 73302 overapplied

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Description: Jones Corporation applies manufacturing overhead on the basis of direct labor-hours.Jones based its predetermined overhead rate for the upcoming year on totalestimated overhead of $243,300 and 8,300 estimated direct labor-hours.At the end of the yea

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 8PA: Coops Stoops estimated its annual overhead to be $85,000 and based its predetermined overhead rate...

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Coops Stoops estimated its annual overhead to be $85,000 and based its predetermined overhead rate on 24,286 direct labor hours. At the end of the year, actual overhead was $90,000 and the total direct labor hours were 24,100. What is the entry to dispose of the over applied or under applied overhead?
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