Chapter 13, Problem 13.6P

Viggo Manufacturing estimates that overhead costs for the next year will be $2,800,000 for indirect labor and $750,000 for factory utilities. The company uses machine hours as its overhead allocation base. If 100,000 machine hours are planned for this next year, what is the company's plantwide overhead rate?

An asset was purchased for $72,000 with a salvage value of $6,000 on July 1, Year 1. It has an estimated useful life of 6 years. Using the straight-line method, how much depreciation expense should be recognized on December 31, Year 1?

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What is its degree of operating leverage?

A firm reported wages expense of $607 million and cash paid for wages of $578 million. What was the change in wages payable for the period?

Please provide the solution to this financial accounting question using proper accounting principles.

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Subject - General Account