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Compute the company plant wide predetermined overhead rate

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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 40,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $553,000 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 $752,288 and its actual total direct labor was 40,500 hours. Compute the company's plant wide predetermined overhead rate for the year.

Reference no: EM133124509

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