Based on the following, calculate the pre-determined overhead rate. Summer 20 Company allocates overhead using...
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Accounting
Based on the following, calculate the pre-determined overhead rate.
Summer 20 Company allocates overhead using a single plant wide rate with direct labor cost as the base. The company manufactures two types of suitcases, Basic and Plus.
| Total estimated overhead cost for the year | $35,000 | ||||
| Estimates for the year | Basic | Plus | |||
| Direct Materials cost per unit | $35 | $42 | |||
| Direct Labor cost per unit | $52 | $61 | |||
| Number of units | 530 | 380 | |||
| 35.22% | ||
| 68.98% | ||
| 144.97% | ||
| 34.04% |
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