Essay
Applied overhead in a bank.On January 1,a bank estimated its production capacity to be 950 million units and used that estimate to compute its predetermined overhead rate of $0.012 per transaction (one unit = one transaction).The units produced for the four quarters follow:
Required:
a.Compute the amount of total overhead applied under normal costing for each quarter.
b.What was the estimated overhead for the year for the predicted capacity of 950 million units?
Correct Answer:
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a.Total overhead applied.
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Correct Answer:
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