Question: PLEASE EXPLAIN HOW TO CALCULATE THIS ANSWER. WITHOUT EXCEL. THANK YOU! Peoples Manufacturing provided the following information from its accounting records for 2018: Estimated production

PLEASE EXPLAIN HOW TO CALCULATE THIS ANSWER. WITHOUT EXCEL. THANK YOU!

Peoples Manufacturing provided the following information from its accounting records for 2018:

Estimated production 120,000 labor hours

Actual production 126,000 labor hours

Budgeted overhead $ 1.200.000

Actual overhead$1,300,000

Instructions:

Compute the predetermined overhead rate [a]

Compute the applied overhead [b]

Was the overhead under or overapplied [c] : By how much? [d]

A $10

B $1,260,000

C underapplied

D $40,000

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