Question: Morris Systems Design develops specialized software for companies and uses a normal costing system. The following data are available for 2001: lop5 Budgeted: Overhead $600,000

Morris Systems Design develops specialized software for companies and uses a normal costing system. The following data are available for 2001: lop5

Budgeted: Overhead $600,000 Machine hours 25,000 Direct labor hours 80,000 Actual: Units

Budgeted: Overhead $600,000 Machine hours 25,000 Direct labor hours 80,000 Actual: Units produced 100,000 Overhead $595,500 Prime costs $900,000 Machine hours 25,050 Direct labor hours 78,000 Overhead is applied on the basis of direct labor hours. Required: 1. What is the predetermined overhead rate? 2. What is the applied overhead for 2001? 3. Was overhead overapplied or underapplied and by how much? 4. What is the unit cost for the year?

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