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- company estimated 100,000 direct labor hours and $600,000 in overhead. The actual overhead was $605,100, and there were 99,800 direct labor nours. What is the predetermined overhead rate, and how much was applied during the year? Predetermined overhead rate per direct labor hour Overhead applied

- company estimated 100,000 direct labor hours and $600,000 in overhead. The actual overhead was $605,100, and there were 99,800 direct labor nours. What is the predetermined overhead rate, and how much was applied during the year? Predetermined overhead rate per direct labor hour Overhead applied

FINANCIAL ACCOUNTING
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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**Title: Understanding Predetermined Overhead Rates** A company estimated 100,000 direct labor hours and $600,000 in overhead. The actual overhead was $605,100, and there were 99,800 direct labor hours. What is the predetermined overhead rate, and how much was applied during the year? **Calculations:** 1. **Predetermined Overhead Rate:** - Formula: Estimated Overhead / Estimated Direct Labor Hours - Input Field: Predetermined overhead rate $_____ per direct labor hour 2. **Overhead Applied:** - Formula: Predetermined Overhead Rate x Actual Direct Labor Hours - Input Field: Overhead applied $_____ **Note:** There are no graphs or diagrams in this section.
Transcribed Image Text:**Title: Understanding Predetermined Overhead Rates** A company estimated 100,000 direct labor hours and $600,000 in overhead. The actual overhead was $605,100, and there were 99,800 direct labor hours. What is the predetermined overhead rate, and how much was applied during the year? **Calculations:** 1. **Predetermined Overhead Rate:** - Formula: Estimated Overhead / Estimated Direct Labor Hours - Input Field: Predetermined overhead rate $_____ per direct labor hour 2. **Overhead Applied:** - Formula: Predetermined Overhead Rate x Actual Direct Labor Hours - Input Field: Overhead applied $_____ **Note:** There are no graphs or diagrams in this section.
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