Answer the following question(s) using the information below.Sunny Company manufactures pipes and applies manufacturing overhead costs to production at a budgeted indirect cost allocation rate of $15 per direct labour hour.The following data are obtained from the accounting records for June in the current year:
-The actual amount of manufacturing overhead costs incurred in June totals
Definitions:
Period Cost
Expenses that are incurred regardless of production levels, including selling, administrative, and other operating expenses.
Manufacturing Company
A type of business that produces finished goods from raw materials through the use of machinery and labor.
Product Cost
The total expenses incurred to create a product, including direct labor, materials, and manufacturing overhead.
Period Cost
Expenses that are not directly tied to the production of goods and are charged to the time period in which they are incurred.
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