Use the following information to answer Exercises below:
Automated Productions Co. projected the following overhead costs and cost drivers for the coming year:
The company contracted for 2 jobs, both of which were started and completed during the year. Production reported the following data in relation to these jobs:

-Assume that actual overhead and budgeted overhead were the same for this year, and that Automated Productions had no other jobs than these two.
What is the amount of under- or over-applied overhead for the year? (Round per-cost-driver costs in intermediate calculations to 2 decimal places.)

Question

Use the following information to answer Exercises below: 
Automated Productions Co. projected the following overhead costs and cost drivers for the coming year:
  The company contracted for 2 jobs, both of which were started and completed during the year. Production reported the following data in relation to these jobs:
 
-Assume that actual overhead and budgeted overhead were the same for this year, and that Automated Productions had no other jobs than these two. 
What is the amount of under- or over-applied overhead for the year? (Round per-cost-driver costs in intermediate calculations to 2 decimal places.)

Quizplus · Accepted Answer

The Answer of Use the following information to answer Exercises below: 
Automated Productions Co. projected the following overhead costs and cost drivers for the coming year:
  The company contracted for 2 jobs, both of which were started and completed during the year. Production reported the following data in relation to these jobs:
 
-Assume that actual overhead and budgeted overhead were the same for this year, and that Automated Productions had no other jobs than these two. 
What is the amount of under- or over-applied overhead for the year? (Round per-cost-driver costs in intermediate calculations to 2 decimal places.)

Use the Following Information to Answer Exercises Below