Assume you made the following two predictions for 2022 for one of your production facilities: Total manufacturing overhead for the year          $15,000,000 Total direct labor hours for the year                           800,000 Actual results for July 2022 were as follows: Manufacturing overhead                                       $1,238,500 Direct labor hours                                                       98,500 Calculate the predetermine overhead rate per direct labor hour for 2022.

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Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.