Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 69,000 labor-hours. The estimated variable manufacturing overhead was $7.30 per labor-hour and the estimated total fixed manufacturing overhead was $1,380,000. The actual labor-hours for the year turned out to be 73,000 labor-hours. Required: Compute the company's predetermined overhead rate for the recently completed year. (Round your answer to 2 decimal places.) Predetermined overhead rate $ 27.30 per labor-hour

Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 69,000 labor-hours. The estimated variable manufacturing overhead was $7.30 per labor-hour and the estimated total fixed manufacturing overhead was $1,380,000. The actual labor-hours for the year turned out to be 73,000 labor-hours. Required: Compute the company's predetermined overhead rate for the recently completed year. (Round your answer to 2 decimal places.) Predetermined overhead rate $ 27.30 per labor-hour

Name: Henkes Corporation bases its predetermined overhead rate on the estim
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Description: Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning ofthe most recently completed year, the company estimated the labor-hours for the upcoming year at 69,000 labor-hours. The

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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