Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At thebeginning of the year, it estimated that 34,000 direct labor-hours would be required for the period's estimated level ofproduction. The company also estimated $534,000 of fixed manufacturing overhead cost for the coming period andvariable manufacturing overhead of $2.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the yearwas $662,603 and its actual total direct labor was 34,500 hours.Required:Compute the company's plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.)Predetermined overhead rateper DLH

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Description: Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At thebeginning of the year, it estimated that 34,000 direct labor-hours would be required for the period's estimated level ofproduction.

The overhead is applied to the production on the basis of the pre-determined overhead rate. The…

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Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the Deginning of the year, it estimated that 34,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $534,000 of fixed manufacturing overhead cost for the coming period and ariable manufacturing overhead of $2.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the ye was $662,603 and its actual total direct labor was 34,500 hours. equired: Compute the company's plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal place Predetermined overhead rate per DLH

Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the Deginning of the year, it estimated that 34,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $534,000 of fixed manufacturing overhead cost for the coming period and ariable manufacturing overhead of $2.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the ye was $662,603 and its actual total direct labor was 34,500 hours. equired: Compute the company's plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal place Predetermined overhead rate per DLH

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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