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Compute the predetermined overhead rate for the year

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Reference no: EM131896408

Privack Corporation has a standard cost system in which it applies overhead to products based on the standa direct labor-hours allowed for the actual output of the period. Data concerning the most recent year appear below

Variable overhead cost per direct labor-hour                                                                       $4

Total fixed overhead cost per year                                                                          $560,000

Budgeted standard direct labor-hours                                                                        80000

(denominator level of activity)

Actual direct labor-hours                                                                                         85,000

Standard direct labor-hours allowed for the actual output                                              83,000

Requirement:

Compute the predetermined overhead rate for the year.

Reference no: EM131896408

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