The winston company estimates that the factory overhead for the following year will be $1,250,000. the company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 50,000 hours. the total machine hours for the year was 54,300. the actual factory overhead for the year was $1,375,000. determine the over or under applied amount for the year.

Over Applied = $1,375,000 - $1,357,500 = $17,500

Explanation:

Basis of overhead decided = $1,250,000/50,000 machine hours = $25 per machine hour

Actual Factory overhead = $1,375,000

Actual machine hours = 54,300

Absorption rate = $1,375,000/54,300 = $25.32

Therefore for 54,300 machine hours overhead shall be = 54,300 X $25 = $1,357,500

Over Applied = $1,375,000 - $1,357,500 = $17,500

answer; human resource management.(hrm);

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know