Examlex

Solved

Jackson Inc If Overhead Is Applied Based on Machine Hours, the Overapplied/underapplied

question 90

Multiple Choice

Jackson Inc. listed the following data for 2019:  Budgeted factory overhead $1,271,000 Budgeted direct labor hours 82,000 Budgeted machine hours 41,000 Actual factory overhead 1,201,000 Actual direct labor hours 86,300 Actual machine hours 39,400\begin{array}{lr}\text { Budgeted factory overhead } & \$ 1,271,000 \\\text { Budgeted direct labor hours } & 82,000 \\\text { Budgeted machine hours } & 41,000 \\\text { Actual factory overhead } & 1,201,000 \\\text { Actual direct labor hours } & 86,300 \\\text { Actual machine hours } & 39,400\end{array} If overhead is applied based on machine hours, the overapplied/underapplied overhead is:


Definitions:

Employer

An individual or entity that hires and pays wages to employees for their labor.

Unfair Business Practices

Actions undertaken by businesses that are deceptive, misleading, or unethical, often to gain an advantage over consumers or competitors.

Penalties

Fines or other forms of punishment imposed on individuals or organizations for breaking laws or regulations.

Sale Of Goods Act

Legislation that regulates the sale of goods, ensuring certain standards of quality and fitness for purpose among other sales rights and duties.

Related Questions