Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Henkes Corporation bases its predetermined overhead rate on the estimated labor - hours for the upcoming year. At the beginning of the most recently completed

Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 53,000 labor-hours. The estimated variable manufacturing overhead was $7.70 per labor-hour and the estimated total fixed manufacturing overhead was $1,001,700. The actual labor-hours for the year turned out to be 55,400 labor-hours.
Required:
Compute the company's predetermined overhead rate for the recently completed year. (Round your answer to 2 decimalplaces.)

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

Auditing And Systems Exam Questions And Explanations

Authors: Irvin N. Gleim

10th Edition

158194246X, 978-1581942460

More Books

Students also viewed these Accounting questions