Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor - hours. At the beginning of the year, it estimated

Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 43,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $508,000 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 $711,832 and its actual total direct labor was 43,50010 hours.
Required:
Compute the company's plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.)
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting A Practical Approach Chapters 1-25

Authors: Jeffrey Slater, Mike Deschamps

15th Edition

0137504284, 9780137504282

More Books

Students also viewed these Accounting questions