Weekly Company gathered the following information for the year ended December 31: Direct labor cost incurred for the year $180,500 Estimated manufacturing overhead costs $269,100 Estimated direct labor cost $214,900 Work in process inventory, Dec, 31 $51,000 Finished goods inventory, Dec. 31 $60,100 Cost of goods sold $141,300 Estimated direct labor hours 260,300What would the predetermined manufacturing overhead rate for the year be using direct labor cost as the allocation base? Question 46 options: 103% of direct labor cost 84% of direct labor cost 119% of direct labor cost 125% of direct labor cost
Weekly Company gathered the following information for the year ended December 31: Direct labor cost incurred for the year $180,500 Estimated manufacturing overhead costs $269,100 Estimated direct labor cost $214,900 Work in process inventory, Dec, 31 $51,000 Finished goods inventory, Dec. 31 $60,100 Cost of goods sold $141,300 Estimated direct labor hours 260,300What would the predetermined manufacturing overhead rate for the year be using direct labor cost as the allocation base? Question 46 options: 103% of direct labor cost 84% of direct labor cost 119% of direct labor cost 125% of direct labor cost
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter4: Accounting For Factory Overhead
Section: Chapter Questions
Problem 15E: The books of Petry Products Co. revealed that the following general journal entry had been made at...
Related questions
Question
Weekly Company gathered the following information for the year ended December 31:
What would the predetermined manufacturing overhead rate for the year be using direct labor cost as the allocation base?
Direct labor cost incurred for the year | $180,500 |
Estimated |
$269,100 |
Estimated direct labor cost | $214,900 |
Work in process inventory, Dec, 31 | $51,000 |
Finished goods inventory, Dec. 31 | $60,100 |
Cost of goods sold | $141,300 |
Estimated direct labor hours | 260,300 |
Question 46 options:
|
103% of direct labor cost
|
|
84% of direct labor cost
|
|
119% of direct labor cost
|
|
125% of direct labor cost
|
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