Compute the company plant-wide predetermined overhead rate

Assignment Help Managerial Accounting
Reference no: EM133070088

Question - Harris Fabrics computes its plant-wide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 42,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $518,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $717,542 and its actual total direct labor was 42,500 hours. Compute the company's plant-wide predetermined overhead rate for the year.

Reference no: EM133070088

Questions Cloud

Calculate btl wacc : BTL has the following capital structure and after-tax finance costs: $500 million of long-term debt at a cost of 7%, $100 million of preferred stock at 13%, and
Determine the risk premium : I. The CAPM points out that rational investors should be compensated for unique risk.
Difference between traditional and modern market : Compare the difference between traditional and modern market and Demonstrate the PESTLE analysis and SWOT analysis application in traditional market
How much will Victoria need to have : Victoria is planning on withdrawing $2,000 every month for a total of 20 years from her retirement account. How much will Victoria need to have
Compute the company plant-wide predetermined overhead rate : The company also estimated $518,000 of fixed manufacturing overhead cost for the coming period. Compute the company plant-wide predetermined overhead rate
Compute the company estimated total cost per CMD : Compute the company's estimated total cost per CMD if the following miles are logged by drivers during the year
Foreign exchange trading activities performed : Discuss in 3 paragraphs, any one of the major Foreign Exchange trading activities performed by Financial Institutions?
Most important costs inherent in business model : What are the most important costs inherent in our business model? How much does it cost to achieve my business's key activities?
Multinational corporation : What strategic guidance will you provide an India based MNC and why? How would this guidance differ for a Brazil based MNC and why?

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Identify type of cost for payment for office stationary case

Determine and Examine the factors which explain why the average cost of producing a commodity declines with an expansion in the scale of production

  What is the purpose of preparing a scattergram

What is the purpose of preparing a scattergram? Why does the high-low method use the high-low activity levels instead of the high-low cost levels? Give the general formula for a mixed cost. Which term represents the variable cost?

  Compute the total indirect costs

The Company's original single-allocation-based cost system allocated indirect costs to products at RM350 per machine hour. Compute the total indirect costs

  Calculate the total overhead cost applied to job

Would you expect substantially different amounts of overhead cost to be assigned to some jobs if the company used a plantwide overhead rate.

  Find what objectives accomplished by cash flow statement

Find What are the objectives that can be accomplished by cash flow statement? It is necessary for an auditor to require a cash flow statement

  What is its average payment period

Question - If a firm has a cash cycle of 44 days and an operating cycle of 118 days, what is its average payment period

  Evaluate revaluation of non-current asset doesn''t impact

Discuss "Revaluation of non-current asset doesn't impact the recognition of future tax associated with that asset". Evaluate this statement.

  Find what was the ending work-in-process for january

What was the ending work-in-process for January? At the beginning of January there were three jobs in process: Job 1, Job 2, and Job 3.

  Solve cost of one unit of product under absorption costing

Calculate the cost of one unit of product under variable costing. Round to the nearest cent. Calculate the cost of one unit of product under absorption costing

  Why is important for set up costs to be reduced

One tenet of lean is to reduce lot sizes, Why is it important for set up costs to be reduced, if your company is trying to reduce inventory?

  Is the variable cost from the cost of unit sold

The company reported a $2,700,000 gross margin on its financial statements. Is the variable cost the $35 from the cost of unit sold

  What the actual price per pound of direct materials purchase

What the actual price per pound of direct materials purchases in September is? actual quantity of direct materials purchased- 40,000 pounds

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd