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 39,000 direct labor-hours would be required for the period’s estimated level of production. The company also estimated $512,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per direct labor-hour. Harris’s actual manufacturing overhead cost for the year was $743,714 and its actual total direct labor was 39,500 hours.
Compute the company’s plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.)
Total variable manufacturing overhead estimated=39,000*4=$156000
Total overhead estimated=Total variable manufacturing overhead estimated+Total fixed manufacturing overhead estimated
=156000+512,000
=$668000
Hence plantwide predetermined overhead rate=Total overhead estimated/Total estimated direct labor-hours
=$668000/39,000
=$17.13 per direct labor-hour(Approx).
Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At...
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 39,000 direct labor-hours would be required for the period’s estimated level of production. The company also estimated $597,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per direct labor-hour. Harris’s actual manufacturing overhead cost for the year was $823,879 and its actual total direct labor was 39,500 hours. Required:...
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