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The company applies all of its overhead costs to jobs based on direct labor-hours. At the beginning of the year, it made the following estimates:
The company applies all of its overhead costs to jobs based on direct labor-hours. At the beginning of the year, it made the following estimates: Direct labor-hours required to support estimated output Fixed overhead cost 16,000 168,000 $1.00 Variable overhead cost per direct labor-hour Required 1. Compute the predetermined overhead rate. 2. During the year, Mr. Wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. The following information was available with respect to his job: 622 $229 Direct materials Direct labor cost Direct labor-hours used Compute Mr. Wilkes' total job cost 3. If Speedy establishes its selling prices using a markup percentage of 60% of its total job cost, then how much would it have charged Mr. Wilkes? Complete the question by entering your answers in the tabs given below Required 1Required 2Required 3 Compute Mr. Wilkes' total job cost. (Round your intermediate calculations to 2 decimal places.) Direct materials Direct labor Overhead applied
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