Business, 05.05.2020 19:34, adorsey846

Fanning Company and Finch Company assign manufacturing overhead to Work in Process Inventory using direct labor cost. The following information is available for the companies for the year: Fanning Company Finch Company Actual direct labor cost $ 150,000 $ 175,000 Estimated direct labor cost 155,000 110,000 Actual manufacturing overhead cost 55,700 91,700 Estimated manufacturing overhead cost 72,850 93,500 Required Compute the predetermined overhead rate for each company. Determine the amount of overhead cost that would be applied to Work in Process Inventory for each company. Compute the amount of overapplied or underapplied manufacturing overhead cost for each company.

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Fanning Company and Finch Company assign manufacturing overhead to Work in Process Inventory using d...