Equinox Fabrication Plant suffered a fire incident in August due to which most of the records for the year were destroyed
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Equinox Fabrication Plant suffered a fire incident in August due to which most of the records for the year were destroyed. The following accounting data for the year that were recovered:
|
Total manufacturing the year |
$105,840 |
|
Total direct labor costs estimated at the beginning of the year |
$186,000 |
|
Total direct labor hours estimated at the beginning of the year |
3,600 direct labor hours |
|
Actual |
$99,760 |
|
Actual direct labor costs for the year |
$142,000 |
|
Actual direct labor hours for the year |
2,950 direct labor hours |
The company bases its manufacturing overhead allocation on direct labor hours. What was the predetermined overhead allocation rate for the year?
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