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RS machinery depreciation supervisor salaries direct labor supplies property tax ing cost rative salaries crative-related depreciation expected costs $ 350,000 55,000 140,000 300,000 7,500 37,500 14,500 80,000 16,000 $ 1,000,500

RS machinery depreciation supervisor salaries direct labor supplies property tax ing cost rative salaries crative-related depreciation expected costs $ 350,000 55,000 140,000 300,000 7,500 37,500 14,500 80,000 16,000 $ 1,000,500

FINANCIAL ACCOUNTING
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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E2-5 (Static) Calculating Predetermined Overhead Rate and Applied Overhead [LO 2-3] Wheeler's Bike Company manufactures custom racing bicycles. The company uses a job order cost system to determine the cost of each bike. Estimated costs and expenses for the coming year follow: Bike parts Factory machinery depreciation. Factory supervisor salaries Factory direct labor Factory supplies Factory property tax Advertising cost Administrative salaries . Administrative-related depreciation Total expected costs $ 350,000 55,000 140,000 300,000 7,500 37,500 14,500 80,000 16,000 $1,000,500 Required: 1. Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $15 per hour. 2. Determine the amount of applied overhead if 18.500 actual hours are worked in the upcoming year. Required Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $15 per hour. Predetermined Overhead Rate per DL Hour Required 2 >
Transcribed Image Text:E2-5 (Static) Calculating Predetermined Overhead Rate and Applied Overhead [LO 2-3] Wheeler's Bike Company manufactures custom racing bicycles. The company uses a job order cost system to determine the cost of each bike. Estimated costs and expenses for the coming year follow: Bike parts Factory machinery depreciation. Factory supervisor salaries Factory direct labor Factory supplies Factory property tax Advertising cost Administrative salaries . Administrative-related depreciation Total expected costs $ 350,000 55,000 140,000 300,000 7,500 37,500 14,500 80,000 16,000 $1,000,500 Required: 1. Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $15 per hour. 2. Determine the amount of applied overhead if 18.500 actual hours are worked in the upcoming year. Required Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $15 per hour. Predetermined Overhead Rate per DL Hour Required 2 >
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