What Is Overhead Rate, and Why Should Your Business Be Tracking It?

Lesson 2.4 - Predetermined Overhead Costs

Morris Company applies overhead based on direct labor costs. For the current year, Morris Company estimated total overhead costs to be 472,000, and direct labor costs to be2,360,000. Actual overhead costs for the year totaled 434,000, and actual direct labor costs totaled1,980,000. At year-end, the balance in the Factory Overhead account is a:. a) 38,000 Credit balance b)472,000 Credit balance. c) 396,000 Debit balance. d)38,000 Debit balance. e) 434,000 Debit balance.

Applied Overhead Versus Actual Overhead – Accounting In Focus

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