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Calculate the predetermined overhead rate for department

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Question 1: Assume Lopez Company uses the plantwide approach for allocating overhead costs and direct labor hours as the allocation base. Calculate the predetermined overhead rate, and explain howr this rate will be used to allocate overhead costs.

Question 2: Assume Lopez Company uses the department approach for allocating overhead costs. Calculate the predetermined overhead rate for each department, and explain how these rates will be used to allocate overhead costs.

Reference no: EM132472585

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