Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. A the beginning of the year, it estimated that 44,000 direct labor-hours would be required for the period's estimate evel of production. The company also estimated $557,000 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 $808,080 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.) Predetermined overhead rate per DLH

Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. A the beginning of the year, it estimated that 44,000 direct labor-hours would be required for the period's estimate evel of production. The company also estimated $557,000 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 $808,080 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.) Predetermined overhead rate 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. Atthe beginning of the year, it estimated that 44,000 direct labor-hours would be required for the period's estimatedlevel 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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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 43,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $537,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.00 per direct labor-hour, Harris's actual manufacturing overhead cost for the year was $702,019 and its actual total direct labor was 43,500 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 20,000 direct labor-hours would be required for the period’s estimated level of production. The company also estimated $94,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $123,900 and its actual total direct labor was 21,000 hours. Required: Compute the company's plantwide predetermined overhead rate for the year. Note: Round your answer to 2 decimal places.
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Kingsley Products estimated that direct labor for the year would be 64,000 hours. The company also estimated that the fixed overhead cost for the year would be $160,000. They further estimated the variable overhead cost to be $4.00 per direct labor-hour. All overhead at Kingsley Products is applied on the basis of direct labor-hours. During the year, fixed overhead costs were exactly as planned ($160,000). Variable overhead was incurred at $4.50 per direct labor-hour. Underapplied overhead for the year was calculated as $18,000. Required: How many direct labor-hours were worked during the period?