FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Hyu Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 56,000 labor-hours. The estimated variable manufacturing overhead was $3.18 per labor-hour and the estimated total fixed manufacturing overhead was $1,237,160. The actual labor-hours for the year turned out to be 56,600 labor-hours. The predetermined overhead rate for the recently completed year was closest to:

 

Multiple Choice
  •  

    $22.49.

  •  

    $3.18.

  •  

    $25.01.

  •  

    $25.27.

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