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 Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis

Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of 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 32,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $505,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $629,891 and its actual total direct labor was 32,500 hours.

Required:

Compute the company's plantwide predetermined overhead rate for the year. labor-hours. At the beginning of the year, it estimated that 32,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $505,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $629,891 and its actual total direct labor was 32,500 hours. please help

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

Modern Management Concepts And Skills

Authors: Samuel Certo, S Certo

15th global Edition

978-1292265193, 1292265191

More Books

Students also viewed these Accounting questions