Nautical Footware Inc. manufactures women's boating shoes. Manufacturing overhead is assigned to production on a machine-hour basis. For 2019, it was estimated that manufacturing overhead would total $363,910 and that 27,960 machine hours would be used. Required: a. Calculate the predetermined overhead application rate that will be used for absorption costing purposes during 2019. (Round your answer to 2 decimal places.) Predetermined overhead application rate b. During May, 3,500 pairs of shoes were made. Raw materials costing $6,130 were used, and direct labor costs totaled $9,020. A total of 730 machine hours were worked during the month of May. Calculate the cost per pair of shoes made during May. (Do not round

Nautical Footware Inc. manufactures women's boating shoes. Manufacturing overhead is assigned to production on a machine-hour basis. For 2019, it was estimated that manufacturing overhead would total $363,910 and that 27,960 machine hours would be used. Required: a. Calculate the predetermined overhead application rate that will be used for absorption costing purposes during 2019. (Round your answer to 2 decimal places.) Predetermined overhead application rate b. During May, 3,500 pairs of shoes were made. Raw materials costing $6,130 were used, and direct labor costs totaled $9,020. A total of 730 machine hours were worked during the month of May. Calculate the cost per pair of shoes made during May. (Do not round

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Description: Please do not give solution in image format thanku Nautical Footware Inc. manufactures women's boating shoes. Manufacturing overhead is assigned to production on a machine-hourbasis. For 2019, it was estimated that manufacturing overhead would total

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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