Question: a. Based on the above data calculate Lopezs predetermined manufacturing overhead rate. b. Calculate the amount of allocated overhead for the period. c.) Calculate the

a. Based on the above data calculate Lopezs predetermined manufacturing overhead

a. Based on the above data calculate Lopezs predetermined manufacturing overhead rate.

b. Calculate the amount of allocated overhead for the period.

c.) Calculate the amount of overhead under or over allocated. Clearly identify whether the overhead amounts is under-allocated or over-allocated.

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15. (6 points) Lopez Inc. uses normal costing to allocate manufacturing overhead on the basis of machine hours. Lopez had the following budget data for the current year: Budgeted factory overhead Budgeted machine hours Budgeted production units $1,299,700 82,000 41,000 Actual results for the current year ended December 31 were as follows: Actual factory overhead Actual machine hours Actual production units $1,327,400 86,300 39,400

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