January 1, 2020 December 31, 2020 Direct materials $40,000 $60,000 Work in process 80,000 50,000 Finished goods 56,000 70,000 Additional information for 2020: Direct materials $200,000 Direct manufacturing labour payroll Direct manufacturing labour rate per hour 160,000 10 Factory overhead rate per direct manufacturing labour hour 8.

January 1, 2020 December 31, 2020 Direct materials $40,000 $60,000 Work in process 80,000 50,000 Finished goods 56,000 70,000 Additional information for 2020: Direct materials $200,000 Direct manufacturing labour payroll Direct manufacturing labour rate per hour 160,000 10 Factory overhead rate per direct manufacturing labour hour 8.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 7EA: A company estimates its manufacturing overhead will be $750,000 for the next year. What is the...

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A company estimates its manufacturing overhead will be $750,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? Budgeted direct labor hours: 60,000 Budgeted direct labor expense: $1,500,000 Estimated machine hours: 100,000
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