Assume that a company uses a standard cost system and applies overhead to production based on direct labor-hours. It provided the following information for its most recent year: Total budgeted fixed overhead cost for the year Actual fixed overhead cost for the year Budgeted direct labor-hours Actual direct labor-hours Standard direct labor-hours allowed for the actual output $ 264,000 $ 276,000 60,000 56,000 58,000 The fixed portion of the predetermined overhead rate is closest to:
Assume that a company uses a standard cost system and applies overhead to production based on direct labor-hours. It provided the following information for its most recent year: Total budgeted fixed overhead cost for the year Actual fixed overhead cost for the year Budgeted direct labor-hours Actual direct labor-hours Standard direct labor-hours allowed for the actual output $ 264,000 $ 276,000 60,000 56,000 58,000 The fixed portion of the predetermined overhead rate is closest to:
Chapter1: Financial Statements And Business Decisions
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answer must be in table format or i will give down vote
Transcribed Image Text:Assume that a company uses a standard cost system and applies overhead to production based on direct labor-hours. It provided the following information for its
most recent year:
Total budgeted fixed overhead cost for the year
Actual fixed overhead cost for the year
Budgeted direct labor-hours
Actual direct labor-hours
Standard direct labor-hours allowed for the actual output
$ 264,000
$ 276,000
60,000
56,000
58,000
The fixed portion of the predetermined overhead rate is closest to:
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