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Business, 12.10.2020 01:01 sciencecreation87

Factory Overhead Rates, Entries, and Account Balance Sundance Solar Company operates two factories. The company applies factory overhead to jobs on the basis of machine hours in Factory 1 and on the basis of direct labor hours in Factory 2. Estimated factory overhead costs, direct labor hours, and machine hours are as follows: Factory 1 Factory 2 Estimated factory overhead cost for fiscal year beginning March 1 $708,050 $1,155,000 Estimated direct labor hours for year 15,400 Estimated machine hours for year 20,230 Actual factory overhead costs for March $56,680 $100,080 Actual direct labor hours for March 1,390 Actual machine hours for March 1,580 a. Determine the factory overhead rate for Factory 1. $ per machine hour b. Determine the factory overhead rate for Factory 2. $ per direct labor hour c. Journalize the entries to apply factory overhead to production in each factory for March. Factory 1 Factory 2 d. Determine the balances of the factory overhead accounts for each factory as of March 31, and indicate whether the amounts represent overapplied factory overhead or underapplied factory overhead. Factory 1 $ Factory 2 $

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Factory Overhead Rates, Entries, and Account Balance Sundance Solar Company operates two factories....
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