Question: Consider the following selected cost data for KYM Inc. for 2013. Budgeted manufacturing overhead (MOH).........$4,180,000 Budgeted machine hours (MH)............ 190,000 Actual manufacturing overhead (MOH) ending

Consider the following selected cost data for KYM Inc. for 2013.

Budgeted manufacturing overhead (MOH).........$4,180,000

Budgeted machine hours (MH)............ 190,000

Actual manufacturing overhead (MOH) ending balance.$4,230,000

Actual machine hours (MH)............... 192,000

KYM’s job-costing system has a single manufacturing overhead cost pool (allocated using a budgeted rate based on actual MH). Any amount of underallocation or overallocation is immediately written off to cost of goods sold.

REQUIRED

1. Compute the budgeted manufacturing overhead (MOH) rate.

2. Journalize the allocation of manufacturing overhead (MOH).

3. Compute the amount of underallocation or overallocation of MOH. Is the amount significant? Journalize the disposition of this amount based on the ending balances in the relevant accounts.

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