Chapter 8, Problem 18Q

Lee Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $329,500 for the year, and machine usage is estimated at 138,200 hours. For the year, $296,534 of overhead costs are incurred and 132,300 hours are used. Compute the manufacturing overhead rate for the year.

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How much was the company's ending inventory?

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Verto Manufacturing produces a product whose direct labor standards are 1.5hours per unit at $15 per hour. In May, the company produced 6,000 units using 9,200 direct labor hours. The actual direct labor cost was $129,200. What is the labor rate variance for May?

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