Financial Accounting > QUESTIONS & ANSWERS > Western Governors University ACCOUNTING C253 Chapter 2 Quiz - Job-Order Costing-VERIFIED BY EXPERTS- (All)
Western Governors University ACCOUNTING C253 Chapter 2 Quiz - Job-Order Costing-VERIFIED BY EXPERTS-GRADED A
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Chapter 2 Quiz 1 Giannitti Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the upcoming year appear below: Estimated machine-hours ... 72,900 Estimated variable manufacturing overhead $ 3.20 per machine-hour Estimated total fixed manufacturing overhead $838,800 The predetermined overhead rate for the recently completed year was closest to: Explanation Estimated total manufacturing overhead = $838,800 + ($3.20 per machine-hour × 72,900 machine-hours) = $1,072,080 Predetermined overhead rate = Estimated total manufacturing overhead ÷ Estimated total amount of the allocation base = $1,072,080 ÷ 72,900 machine-hours = $14.71 per machine-hour [Show More]
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