A company had the following information about its manufactur…

A company had the following information about its manufacturing overhead costs during the year. Determine the adjustment that is needed to Cost of Goods Sold at year end. Estimated overhead costs, beginning of the year $520,000 Actual overhead incurred $500,000 Applied overhead based on predetermined overhead rate $510,000

Morrow Company applies overhead based on direct labor hours….

Morrow Company applies overhead based on direct labor hours. Using the relevant information below, what is Morrow’s predetmined overhead rate? Estimated manufacturing overhead $620,000 Estimated direct labor hours 40,000 hours Estimated machine hours 180,000 hours Actual manufacturing overhead $650,000 Actual direct labor hours 50,000 hours Actual machine hours 200,000 hours