Sonic corporation purchased and installed electronic payment equipment at its drive-in restaurants in san marcos, tx, at a cost of $27,000. the equipment has an estimated residual value of $1,500. the equipment is expected to process 255,000 payments over its three-year useful life. per year, expected payment transactions are 61,200, year 1; 140,250, year 2; and 53,550, year 3.required: complete a depreciation schedule for each of the alternative methods. 1. straight-line. 2. units-of-production. 3. double-declining-balance.

Under/over applied overhead= $18,546 overallocated

Explanation:

Giving the following information:

Estimated factory overhead costs= $362,655

Estimated direct labor hours= 40,295.

Actual factory overhead costs incurred were $445,098, and actual direct labor hours were 51,516

Firsts, we need to calculate the predetermined overhead rate:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 362,655/40,295

Estimated manufacturing overhead rate= $9 per direct labor hour

Now, we need to allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 9*51,516= $463,644

Finally, we determine the under/over allocated overhead:

Under/over applied overhead= real overhead - allocated overhead

Under/over applied overhead= 445,098 - 463,644= $18,546 overallocated