Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 29,000 direct labor-hours would be required for the period’s estimated level of production. The company also estimated $565,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Harris’s actual manufacturing overhead cost for the year was $708,966 and its actual total direct labor was 29,500 hours.
Required:
Compute the company’s plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.)
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Solution
Predetermined overhead rate | $ 22.48 Per DLH |
Working
Calculation of Predetermined Overhead rate | ||
(A) | Total Estimated Manufacturing Overheads | $ 565,000.00 |
(B) | Estimated Direct Labor hours | 29000 |
C=(A/B) | Overhead rate for fixed overhead | $ 19.48 |
D | Variable overhead rate | $ 3.00 |
E=D+C | Predetermined overhead rate | $ 22.48 |
Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At...
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