Oscar prizes, a manufacturer of gift articles, uses a single plant wide rate to allocate indirect costs.
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Question:
Oscar prizes, a manufacturer of gift articles, uses a single plant wide rate to allocate indirect costs. The company allocates manufacturing overhead using a single plant wide rate with machine hours as the allocation base. Estimated overhead cost for the year is $5,000,000 and estimated machine hours are 25,000.
During the year, the actual machine hours used was 30,000. Calculate the predetermined overhead allocation rate.
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