Perez, Inc. estimates manufacturing overhead costs for the 2019 accounting period as follows: Equipment depreciation $...
Perez, Inc. estimates manufacturing overhead costs for the 2019 accounting period as follows:
| Equipment depreciation | $ | 191,700 | |
| Supplies | 20,500 | ||
| Materials handling | 33,400 | ||
| Property taxes | 13,700 | ||
| Production setup | 20,300 | ||
| Rent | 44,100 | ||
| Maintenance | 39,800 | ||
| Supervisory salaries | 195,500 | ||
The company uses a predetermined overhead rate based on machine hours. Estimated hours for labor in 2019 were 203,000 and for machines were 130,000.
Required
-
Calculate the predetermined overhead rate. (Round your answer to 2 decimal places.)
-
Determine the amount of manufacturing overhead applied to Work in Process Inventory during the 2019 period if actual machine hours were 145,000. (Do not round intermediate calculations.)
a. predetermined overhead rate = ? per machine hour
b. applied manufacturing overhead = ?
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