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Castillo Co.manufactures staples.Costs for October were direct labor,$84,000; indirect labor,$36,700; direct materials,$55,900; factory maintenance,$4,800; factory utilities,$3,200; and insurance on plant and equipment,$700.What is the company's total factory overhead cost for October?
Factory Overhead
All indirect costs, including indirect materials, labor, and expenses, incurred during the manufacturing process.
Machine Hours
A measure of production time or operation, referring to the total hours a machine is used or operates within a given period.
Overapplied Amount
This term refers to a situation where the allocated or applied costs in cost accounting exceed the actual costs incurred.
Factory Overhead Rate
A cost allocation rate used in manufacturing to assign estimated overhead costs to production activities or output, based on a predetermined formula.
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