Question
Floydes Company produces makeup mirrors. In preparing the current budget, Floydes controller estimates a total of $400,000 in direct materials cost, $380,000 in direct labor
Floydes Company produces makeup mirrors. In preparing the current budget, Floydes controller estimates a total of $400,000 in direct materials cost, $380,000 in direct labor cost, and $390,000 in manufacturing overhead costs. Since much of the production process requires skilled workers to assemble the mirrors, direct labor cost is used as the overhead application base. At the end of the period, Floydes reported actual results as follows: direct materials cost of $290,000, direct labor cost of $250,000, and manufacturing overhead cost $330,000.
- What is Floydes predetermined overhead rate for the year?
- How much manufacturing overhead did Floydes apply during the year?
- How much is the total production costs assigned to jobs?
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