Atlas Cycle Manufacturing Company furnished the following information of the total expenditure incurred in the month material used OMR 45,500; Wages paid for the laboursOMR 42,400 for the hours worked 25,000. The machine is in operation for 35,000 hours in which 5,000 hours was lost due to repairs and maintenance and Total overhead cost OMR 33,000. Rent paid OMR 5000, Interest received OMR 2,000. An order has been executed to manufacture and deliver the 20 cycles for which materials to be used for OMR 8,000. In order to accomplish the work labour were paid OMR 11,250 for 2,600 hours and machine has been used for 2,400 hours. You are required to calculate the overhead chargeable to manufacture 20 cycle on order by the following methods. d. Direct labor hour rate e. Machine hour rate

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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.