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Answer :
The amount of overhead applied during the year by Kilt Company is option a) $220,450. To calculate the overhead applied, we need to multiply the predetermined overhead rate by the actual direct labor hours incurred.
The predetermined overhead rate is given as $43 per direct labor hour, and the actual direct labor hours incurred are 5,350 hours. Multiplying these two values gives us $230,050. However, we also need to consider the ending Work in Process (WIP) balance. The ending WIP balance is an inventory account that represents partially completed products still in the manufacturing process. In this case, the ending WIP balance is given as $17,200. To find the amount of overhead applied, we subtract the ending WIP balance from the initial calculation of $230,050. Therefore, $230,050 - $17,200 equals $220,450, which represents the amount of overhead applied during the year by Kilt Company.
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Complete Question:
Kit Company had the following information for the year
Direct materials used: $115,300
Direct labor incurred (5,350 hours): $159,900
Actual manufacturing overhead incurred: $175,400
KR Company used a predetermined overhead rate of $43 per direct labor hour for the year and estimated that direct labor hours would total 5.150 hours Assume the only inventory balance is an ending Won Process balance of $17.200 How much overhead was applied during the year?
a. 220450
b. $900
c. $175,000
d. $1300
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Rewritten by : Brahmana