Problem

Lys Wheels manufactures high-performance mountain bikes. Lys uses a predetermined overhe...

Lys Wheels manufactures high-performance mountain bikes. Lys uses a predetermined overhead rate based on direct labor hours to absorb overhead to mountain bikes. For the last fiscal year, the firm had the following operating data:

Actual direct labor hours

19,000

Underabsorbed overhead

$ 7,000

Actual overhead incurred

$197,000

Budgeted overhead

$210,000

Required:

What was Lys’s budgeted volume last year?

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Solutions For Problems in Chapter 9