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 44,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $585.000 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 $796,348 and its actual total direct labor was 44,500 hours. Required: Compute the company's plantwide predermined overhead rate for the year. Round your answer to 2 decimal places) radtermined ovenead per DLH

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 44,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $585.000 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 $796,348 and its actual total direct labor was 44,500 hours. Required: Compute the company's plantwide predermined overhead rate for the year. Round your answer to 2 decimal places) radtermined ovenead per DLH

Name: Harris Fabrics computes its plantwide predetermined overhead rate ann
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Description: Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of theyear, It estimated that 44,000 direct labor-hours would be required for the period's estimeted level of production.

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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A company estimates its manufacturing overhead will be $617,864 for the next year. What is the predetermined overhead rate if the allocation base is 1,091,428 budgeted direct labor expense? Round to the nearest hundredth, two decimals.
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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 44,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $558,000 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 $773,491 and its actual total direct labor was 44,500 hours. Required: Compute the company's plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.)
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