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Kody Corporation uses a job-order costing system with a plantwide overhead rate based on machine-hours. At the beginning of the year, the company...
Kody Corporation uses a job-order costing system with a plantwide overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production 157,000; Fixed manufacturing overhead cost 660,000; Variable manufacturing overhead cost per machine-hour 4.30. During the year the company worked a total of 145,900 machine-hours on all jobs and incurred actual manufacturing overhead costs of $1,242,650. What is the amount of underapplied or overapplied overhead for the year?
