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 38,000 direct labor-hours would be required for the period’s estimated level of production. The company also estimated $536,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.00 per direct labor-hour. Harris’s actual manufacturing overhead cost for the year was $683,578 and its actual total direct labor was 38,500 hours.
Required:
Compute the company’s plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.)
Compute the company’s plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.)
Estimated direct labor hours = 38,000
Estimated fixed manufacturing overhead = $536,000
Estimated variable manufacturing overhead per direct labor hour = $2
plantwide predetermined overhead rate = Estimated variable manufacturing overhead per direct labor hour+ Estimated fixed manufacturing overhead/ Estimated direct labor hours
= 2+ 536,000/38,000
= 2+14.11
= $16.11 per direct labor hour
The company’s plantwide predetermined overhead rate for the year is $16.11 per direct labor hour.
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Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At...
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