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ACC 561 Week 4 WileyPLUS Assignment (With Excel File)
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This Tutorial comes with Excel File to solve for any values
Complete the following Week 4 Assignment in WileyPLUS:
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Exercise 15-5
Exercise 16-3
Exercise 17-1
Exercise 15-5
Ikerd Company applies manufacturing overhead to jobs on the basis of
machine hours used. Overhead costs are expected to total $300,000 for
the year, and machine usage is estimated at 125,000 hours.
For the year, $322,000 of overhead costs are incurred and 130,000 hours
are used.
Compute the manufacturing overhead rate for the year
What is the amount of under- or overapplied overhead at December 31?
Prepare the adjusting entry to assign the under- or overapplied overhead
for the year to cost of goods sold.