ACCT 222-During 2016, Arb Company incurred the following direct | Online Assignment Help: +1 (857)-330-4622

ACCT 222-During 2016, Arb Company incurred the following direct

ACCT 222-During 2016, Arb Company incurred the following direct Brief Exercise 159 During 2016, Arb Company incurred the following direct labor costs: January $20,000 and February $30,000. Arb uses a predetermined overhead rate of 120% of direct labor cost. Estimated overhead for the 2 months, respectively, totaled $19,500 and $35,700. Actual overhead for the 2 months, respectively, totaled $25,000 and $33,500.Calculate overhead applied.January$February$Determine if overhead is over- or underapplied for each of the two months and the respective amounts.January$ underappliedoverappliedFebruary$ underappliedoverapplied