Sherrell Inc. applies overhead using direct labor hours. The following data are available for the year:
At the end of the year, it was determined that overhead was overapplied by $40,000.
Required:

Question

Sherrell Inc. applies overhead using direct labor hours. The following data are available for the year:
  At the end of the year, it was determined that overhead was overapplied by $40,000.
Required:

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The Answer of Sherrell Inc. applies overhead using direct labor hours. The following data are available for the year:
  At the end of the year, it was determined that overhead was overapplied by $40,000.
Required: