LM Company Listed the Following Data for 2019 Required:
(1) Assuming KLM Applied Overhead Based on Direct Labor

question 111

Essay

LM Company listed the following data for 2019: $$\begin{array} { l r } \text { Budgeted factory overhead } & \$ 1,143,800 \\\text { Budgeted direct labor hours } & 86,000 \\\text { Budgeted machine hours } & 28,595 \\\text { Actual factory overhead } & 1,101,770 \\\text { Actual direct labor hours } & 87,200 \\\text { Actual machine hours } & 28,300\end{array}$$ Required:
(1) Assuming KLM applied overhead based on direct labor hours, calculate the company's predetermined overhead rate for 2019.
(2) Assuming KLM applied overhead based on machine hours, calculate the company's predetermined overhead rate for 2019.
(3) If overhead is applied based on direct labor hours, calculate the overapplied/underapplied overhead.
(4) If overhead is applied based on machine hours, calculate the overapplied/underapplied overhead.

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