Infotrac Inc. sells a high-speed retrieval system for information. It provides the following information for the...
Infotrac Inc. sells a high-speed retrieval system for information. It provides the following information for the year.
Budgeted Actual
Overhead cost $1,205,040 $958,960
Machine hours 50,210 41,250
Direct labour hrs 152,530 90,300
Overhead is applied on the basis of machine hours.
Calculate the predetermined overhead rate.
Predetermined overhead rate $a)_____________ per machine hour
Determine the amount of overhead applied for the year.
Amount of overhead applied $b)_________________
Homework Answers
| a) | Predetermined OH rate = | Budgeted OH cost / Budgeted Machine Hours | |||
| = | $ 1205040 / 50210 | ||||
| = | $ 24.00 | per machine hour | |||
| b) | Applied OH | = | Actual Machine Hours x Predetermined OH rate | ||
| = | 41250 x $ 24 | ||||
| = | $ 990,000.00 | ||||
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