Lott Company uses a job order cost system and applies overhead to production on the basis...

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Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1

business accounting

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Answer 1

Answer #1

Predetermined Overhead rate: -

= Manufacturing overhead costs/direct labor costs

= 974400/812000*100

= 120%

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Answer 2

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