Lori Shapel Fabricating had the following estimated costs: Expected annual direct labor hours:...
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Accounting
Lori Shapel Fabricating had the following estimated costs:
Expected annual direct labor hours: 40,000
Expected annual direct labor costs: $600,000
Expected machine hours: 15,000
Expected material cost for the year: $800,000
Expected manufacturing overhead: $900,000
Calculate overhead allocation rates using each of the four possible allocation bases provided.
Determine the cost of the following job using each of the four overhead allocation rates:
Direct materials: $2,500
Direct labor: (140 hrs. @ $11/hr): $1,540
Machine hours used: 100
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