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please also find Overhead applied and Total overhead variance Bridgeport Company produces one product, a putter called GO-Putter. Bridgeport uses a standard cost system and

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please also find Overhead applied and Total overhead variance

Bridgeport Company produces one product, a putter called GO-Putter. Bridgeport uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 126,000 units per year. The total budgeted overhead at normal capacity is $1,121,400 comprised of $340,200 of variable costs and $781,200 of fixed costs. Bridgeport applies overhead on the basis of direct labor hours. During the current year, Bridgeport produced 119,700 putters, worked 118,900 direct labor hours, and incurred variable overhead costs of $322,100 and fixed overhead costs of $756,000. (a) Compute the predetermined variable overhead rate and the predetermined fixed overhead rate. (Round answers to 2 decimal places, e.g. 2.75.)

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