Question: i need to solve this problem Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of
Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 31,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $565,000 of fixed manufacturing overhead cost for the coming perlod and variable manufacturing overhead of $4.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $752,088 and its actual total direct labor was 31,500 hours Required: Compute the company's plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal ploces.)
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