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accounting help Richmond Heating & Cooling installs and services commercial heating and cooling systems Richmond uses job costing to calculate the cost of its jobs.

accounting help
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Richmond Heating & Cooling installs and services commercial heating and cooling systems Richmond uses job costing to calculate the cost of its jobs. Overhead is allocated to each job based on the number of direct labor hours spent on that job At the beginning of the current year, Richmond estimated that its overhead for the coming year would be 566,750. it also anticipated using 4,450 direct labor hours for the year. Richmond paid a 522-per-hour wage rate to the employees who worked on these two jobs. Requirement 1. What is Richmond's predetermined overhead rate based on direct labor hours? Determine the formula to calculate Richmond's predetermined overhead rate based on direct labor hours, then calculate the rate. / = Predetermined overhead rate

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