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Sidney Industries manufactures a variety of custom products. The company has traditionally used a plantwide...

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Accounting

Sidney Industries manufactures a variety of custom products. The company has traditionally used a plantwide manufacturing overhead rate based on
machine hours to allocate manufacturing overhead to its products. The company estimates that it will incur $2,220,000 in total manufacturing
overhead costs in the upcoming year and will use 15,000 machine hours.
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Requirement 1. Calculate the cost of Job 354 using the traditional plantwide manufacturing overhead rate based on machine hours.
Begin by calculating the plantwide overhead rate. First identify the formula used to compute the plantwide overhead rate, then compute the rate.
(Abbreviations used: MOH= manufacturing overhead)
Plantwide manufacturing
overhead rate
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