Longobardi 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 Corporation estimated the labor-hours for the upcoming year at 46,000 labor-hours. The estimated variable manufacturing overhead was S6.25 per labor-hour and the estimated total fixed manufacturing overhead was S1,026,260. The actual labor-hours for the year turned out to be 41,200 labor- hours. The predetermined overhead rate for the recently completed year was closest to: A) 28 56 per labor-hour B) 22.31 per labor-hour C) 6.25 per labor-hour D) 31.16 per labor-hour
Longobardi 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 Corporation estimated the labor-hours for the upcoming year at 46,000 labor-hours. The estimated variable manufacturing overhead was S6.25 per labor-hour and the estimated total fixed manufacturing overhead was S1,026,260. The actual labor-hours for the year turned out to be 41,200 labor- hours. The predetermined overhead rate for the recently completed year was closest to: A) 28 56 per labor-hour B) 22.31 per labor-hour C) 6.25 per labor-hour D) 31.16 per labor-hour
Chapter1: Financial Statements And Business Decisions
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Longobardi 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 Corporation estimated the labor-hours for the upcoming year at 46,000 labor-hours. The estimated variable manufacturing overhead was S6.25 per labor-hour and the estimated total fixed manufacturing overhead was S1,026,260. The actual labor-hours for the year turned out to be 41,200 labor- hours. The predetermined overhead rate for the recently completed year was closest to: A) 28 56 per labor-hour B) 22.31 per labor-hour C) 6.25 per labor-hour D) 31.16 per labor-hour
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