Question: can I please get the answer for part (c) MPIONS Sheridan Decorating uses a job-order costing system to collect the costs of its interior decorating



MPIONS Sheridan Decorating uses a job-order costing system to collect the costs of its interior decorating business. Each client's consultation is treated as a separate job. Overhead is applied to each job based on the number of decorator hours incurred Listed below are data for the current year $899,800 $912.500 Estimated overhead costs Actual overhead costs Estimated decorator hours Actual decorator hours 40.900 41 220 The company uses Operating Overhead in place of Manufacturing Overhead, and Service Contracts in Process in place of Work in Process Inventory (a) Your Answer Correct Answer Your answer is correct Calculate the predetermined overhead rate. Predetermined overhead rate $ 22 per decorator hour List of Accounts Assistance Used Attempts tof 2 used (b) Your Answer Correct Answer (Used) 3.33/5 (b) Your Answer Correct Answer (Used) Your answer is correct Prepare the entry to apply the overhead for the year (Ustall debit entries before credit entries Credit account ties are automatically indented when the amount is entered Do not indent manual) Debit Credit Account Titles and Explanation Work in Process inventory Operating Overhead 906340 Solution List of Accounts Assistance Used Attempts: 2 of 2 used Solution List of Accounts Assistance Used Attempts: 2 of 2 used (c) Determine whether the overhead was under or over-applied and by how much Balance + List of Accounts
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
