Oscar co. applies overhead on the basis of machine hours. given the following data, compute overhead applied and the under- or overapplication of overhead for the period: estimated annual overhead cost $1,200,000actual annual overhead cost $1,155,000estimated machine hours 400,000actual machine hours 380,000

15,000 underapplied

Explanation:

We will calculate the applied overhead but first, we need the predetermined overhead rate:

the expected overhead will be divided by the cost driver which is machine hours.

1,200,000 / 400,000 = 3

now we multiply by the actual output of machienhours:

380,000 x 3 = 1,140,000

lastly, we compare with the actual overhead cost:

1,140,000 - 1,155,000  = 15,000

as the actual cost were higher than applied we underapplied the overhead.

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