G At the beginning of the year, manufacturing overhead for the year was estimated to be $1,033,125. At the end of the year, actual direct labor-hours for the year were 36,390 hours, the actual manufacturing overhead for the year was $972,000, and manufacturing overhead for the year was overapplied by $65,115. If the predetermined overhead rate is based on direct labor-hours, then the estimated direct labor-hours at the beginning of the year used in the predetermined overhead rate must have been:

36,250  direct labor-hours

Explanation:

a. Underapplied (overapplied) manufacturing overhead = Actual manufacturing overhead - Manufacturing overhead applied

- $65,115 = $972,000 - Manufacturing overhead applied

Manufacturing overhead applied = $972,000 + $65,115 = $1,037,115  

b. Manufacturing overhead applied = Predetermined overhead rate × Actual direct labor-hours  

Therefore, we have:

Predetermined overhead rate = Manufacturing overhead applied ÷ Actual direct labor-hours  = $1,037,115 ÷ 36,390 = $28.50 per direct labor-hour

c. Estimated direct labor-hours = Estimated total manufacturing overhead ÷ Predetermined overhead rate  = $1,033,125 ÷ $28.50 = 36,250  direct labor-hours

Therefore, the estimated direct labor-hours at the beginning of the year used in the predetermined overhead rate must have been 36,250  direct labor-hours.

month 1 start amount =$3287.90 interest=(3287.90x0.0145/12)3.97 total to pay=$3291.81 paid =$1200 balance =$2,091.87

month 2 starting amount= $2,091.87 interest =$25.28 total to pay =$2117.15 paid =$1200 balance $917.15

month 3 starting amount =$917.15 interest =$11.08 total to pay =$928.23 paid =$928.23 balance =$0 total to pay 1200+1200+928.23 = $3328.23 it will take 3 months to pay a total of $3328.23

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