On January 1, 2020, X Company estimated the following costs for the year: ...
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Accounting
On January 1, 2020, X Company estimated the following costs for the year:
| Direct materials | $59,300 |
| Direct labor | 90,000 |
| Factory supplies | 19,900 |
| Factory supervision | 28,100 |
| Advertising | 41,800 |
| Factory rent | 49,500 |
| Sales salaries | 41,000 |
| Factory insurance | 66,600 |
X Company also estimated 6,000 direct labor hours and 63,000 machine hours for the year.
The company uses a plantwide overhead allcoation system, with direct labor cost as the cost driver.
If the direct labor cost for one of its products was $13,500, and the product required 720 direct labor hours, how much overhead was allocated to it (round overhead rate(s) to two decimal places)?
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