arris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 41,000 direct labor-hours would be required for the period’s estimated level of production. The company also estimated $534,000 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 $727,262 and its actual total direct labor was 41,500 hours.
Required:
Compute the company’s plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.)
In putting values in equation variable manufacturing overhead = variable manufacturing overhead * estimated direct labour hours we get,
variable manufacturing overhead = $3 * 41000 = $ 123000
We know from problem estimated fixed manufacturing overhead = $ 534000
Total estimated manufacturing overhead = estimated fixed manufacturing overhead + estimated variable manufacturing overhead = $123000 + $ 534000 = $657000
Thus pre-determined overhead rate for the year = Total estimated manufacturing overhead/ estimated direct labour = $657000/41000 = $16.02 per direct labour
arris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At...
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