applies overhead based on machine hours. At the beginning of 20x1, the company estimated that manufacturing overhead would be $500,000, and machine hours would total 20,000. By 20x1 vear-end, actual overhead totaled $525,000, and actual machine hours were 25.000, On the basis of this information, the 20x1 predetermined overhead rate was: A) $20 per machine hour. B) $0.05 per machine hour. C) $0.04 per machine hour. D) $25 per machine hour, E) $21 per machine hour.

applies overhead based on machine hours. At the beginning of 20x1, the company estimated that manufacturing overhead would be $500,000, and machine hours would total 20,000. By 20x1 vear-end, actual overhead totaled $525,000, and actual machine hours were 25.000, On the basis of this information, the 20x1 predetermined overhead rate was: A) $20 per machine hour. B) $0.05 per machine hour. C) $0.04 per machine hour. D) $25 per machine hour, E) $21 per machine hour.

Name: pany applies overhead based on machine hours. At the beginning of 20x
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Description: pany applies overhead based on machine hours. At the beginning of 20x1,the company estimated that manufacturing overhead would be $500,000, and machinehours would total 20,000. By 20x1 vear-end, actual overhead totaled $525,000, andactual machine ho

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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If estimated annual factory overhead is $768,000; overhead is applied using direct labor hours; estimated annual direct labor hours are 240,000; actual March factory overhead is $68,800; and actual March direct labor hours are 21,000; then overhead is:
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27) Metalica Company applies overhead based on machine hours. At the beginning of 20x1, the company estimated that manufacturing overhead would be $500,000, and machine hours would total 20,000. By 20xl year-end, actual overhead totaled $525,000, and actual machine hours were 25,000. On the basis of this information, the 20x1 predetermined overhead rate was: A) S20 per machine hour. B) S0.05 per machine hour. O $0.04 per machine hour. D) $25 per machine hour. E) $21 per machine hour.
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Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 30,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $507,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $652,700 and its actual total direct labor was 30,500 hours. Required: Compute the company's plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.) Predetermined overhead rate per DLH
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Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 27,000 direct labor-hours would be required for the period’s estimated level of production. The company also estimated $512,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per direct labor-hour. Harris’s actual manufacturing overhead cost for the year was $675,481 and its actual total direct labor was 27,500 hours. Required: Compute the company’s plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.)
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