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Accounting

27th Edition
WARREN + 5 others
ISBN: 9781337272094

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Chapter
Section
BuyFindarrow_forward

Accounting

27th Edition
WARREN + 5 others
ISBN: 9781337272094
Textbook Problem

a. How is a predetermined factory overhead rate calculated?

b. Name three common bases used in calculating the rate.

(a)

To determine

To state: how the predetermined overhead rate is calculated.

Explanation

Normally, factory overhead costs are applied or allocated to cost of job based on predetermined factory overhead rate. The formula to calculate the predetermined factory overhead rate is as follows:

Predetermined factory overhead rate = 

(b)

To determine

To name: the three common bases used in calculating the estimated activity rate.

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