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Problem - Single plantwide overhead rate - The total factory overhead for Urban Styles, Inc., is budgeted for the year at $225,000. Urban Styles manufactures two types of men's pants: jeans and khakis. The jeans and khakis each require 0.15 direct labor hour for manufacture. Each product is budgeted for 15,000 units of production for the year.
Required -
Determine the total number of budgeted direct labor hours for the year.
Determine the single plantwide factory overhead rate.
Determine the factory overhead allocated per unit for each product using the single plantwide factory overhead rate.
Determine the amount of cost in the Raw Materials, Work in Process, and Finished Goods Inventory as of the date of the storm
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