Homework Answers
| Ans. 1 | Predetermined overhead rate = Budgeted overhead cost / Budgeted Direct labor hours | |||
| $282,000 / 20,000 | ||||
| $14.10 per direct labor hour | ||||
| Ans. 2 | Overhead applied = Actual direct labor hours * Predetermined overhead rate | |||
| 25,200 * $14.10 | ||||
| $355,320 | ||||
| *Predetermined overhead rate is calculated on the estimated direct labor hours and applied | ||||
| overhead is calculated on the basis of actual direct labor hours. | ||||
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Hamilton Company applies manufacturing overhead costs to products based on direct labor hours. The company estimates...
M2-9 (Algo) Calculating Predetermined Overhead Rate (LO 2-3) Hamilton Company applies manufacturing overhead costs to products...
M2-9 (Algo) Calculating Predetermined Overhead Rate (LO 2-3) Hamilton Company applies manufacturing overhead costs to products based on direct labor hours. The company estimates manufacturing overhead cost for the year to be $252,000 and direct labor hours to be 20,000. Actual overhead for the year was $265,000. Required: 1. Compute the predetermined overhead rate. 2. If the company actually used 22,200 direct labor hours, how much manufacturing overhead is applied to the company's jobs? Complete this question by entering your...
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Southern Rim Parts estimates its manufacturing overhead to be $409,500 and its direct labor costs to be $910,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $50,000 for Job 301, $75,000 for Job 302, and $100,000 for Job 303. For the year, actual manufacturing overhead was $474,000 and total direct labor cost was $849,000. Manufacturing overhead is applied to jobs on the basis of direct labor costs using predetermined rates....
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