Harris Fabrics computes its plantwide predetermined overhead rate annually based on direct labor-hours. At the...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Harris Fabrics computes its plantwide predetermined overhead rate annually based on direct labor-hours. At the beginning of the year, it estimated 34,000 direct labor-hours would be required for the periods estimated level of production. The company also estimated $548,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Harriss actual manufacturing overhead cost for the year was $713,034 and its actual total direct labor was 34,500 hours.
Required:
Compute the companys plantwide predetermined overhead rate.
Note: Round your answer to 2 decimal places.
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.