Question: Help please A manufacturing company uses a NORMAL COSTING SYSTEM (where the overhead costs are allocated to the WIP Account using a budgeted rate). They

Help please

A manufacturing company uses a NORMAL COSTING SYSTEM (where the overhead costs are allocated to the WIP Account using a budgeted rate). They had budgeted annual overheads of $1038331 and budgeted annual machine hours (MH) of 15338 which they use as their main COST DRIVER. During the year, the company had an actual activity level of 15980 MH and the actual annual overhead was $1167654. Calculate by how much they had either over or under applied overhead. NOTE - ENTER A MINUS (-) SIGN IN FRONT OF THE NUMBER CALCULATED FOR UNDERAPPLIED OVERHEAD AND SIMPLY ENTER THE NUMBER IF IT IS OVERAPPLIED (i.e. No + or - should be used for overapplied amounts) ONLY ENTER WHOLE NUMBERS AND IGNORE ANY DECIMAL PLACES

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