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Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. At the...


Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the
Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 26,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $557,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $4.00 per direct labor-hour. Harris's actual manufacturing overhead for the year was $718,762 and its actual total direct labor was 26,500 hours Required: Compute the company's predetermined overhead rate for the year. (Round your answer to 2 decimal places.) Predetermined overhead rate per DLH
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ReportAnswer #1
Predetermined overhead Rate = Total manufacturing overhead /Total estimated Labour Hours
Total Manufacturing Overhead = Fixed manufacturing Overhead + Variable manufaturing Overhead
Estimated Fixed Manufacturing Overhead = $ 557,000
Estimated Variable manufacturing Overhead = 26,000 X 4
= 104,000
Estimated Direct Labour Hours 26,000 Hours
Estimated total manufacturing Overhead = 557,000 + 104,000
= $661,000
Predetermined overhead Rate = 661,000/26000
= 25.42 per DLH
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