The Thomlin Company forecasts that total overhead for the current year will be $15,000,000 and that total machine hours will be 200,000 hours. Year to date, the actual overhead is $15,500,000 and the actual machine hours are 220,000 hours. If the Thomlin Company uses a predetermined overhead rate based on machine hours for applying overhead, as of this point in time (year to date) the overhead is
over/under applied by?
A) $1,000,000 over
B) $1,000,000 under
C) $500,000 over
D) $500,000 under
A
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Fill in the blank(s) with the appropriate word(s).
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