Exercise 11-4A (Algo) Calculating applied overhead LO 11-2 Solomon, Inc. estimates manufacturing overhead costs for...
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Accounting
Exercise 11-4A (Algo) Calculating applied overhead LO 11-2 Solomon, Inc. estimates manufacturing overhead costs for the Year 3 accounting period as follows. Equipment depreciation Supplies Materials handling Property taxes Production setup Rent Maintenance Supervisory salaries $192,000 19,400 32,300 14,200 19,200 44.200 39.600 281,700 The company uses a predetermined overhead rate based on machine hours. Estimated hours for labor in Year 3 were 211,000 and for machines were 126,000. Required a. Calculate the predetermined overhead rate. (Round your answer to 2 decimal places.) b. Determine the amount of manufacturing overhead applied to Work in Process Inventory during the Year 3 period if actual machine hours were 141,000. (Do not round intermediate calculations.) per machine hour a. Predetermined overhead rate b. Applied manufacturing overhead
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