Single plantwide factory overhead rate Gwinnett County Chrome Company manufactures three chrome-plated products-automobile bumpers, valve covers, and wheels. These products are manufactured in two production departments (Stamping and Plating). The factory overhead for Gwinnett County Chrome is $239,200. The three products consume both machine hours and direct labor hours in the two production departments as follows: Stamping Department Automobile bumpers Valve covers Wheels Plating Department. Plating Department Valve covers Wheels Total Direct Labor Hours 590 310 350 1,250 195 200 195 590 1,840 Machine Hours 810 570 620 2,000 1,150 700 750 2,600 4,600 1. Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine hours.

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Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.