predetermined overhead rate, overhead application at the beginning of the year, estes company estimated the following costs: overhead $450,000 direct labor cost 600,000 estes uses normal costing and applies overhead on the basis of direct labor cost. (direct labor cost is equal to total direct labor hours worked multiplied by the wage rate.) for the month of september, direct labor cost was $46,300. required: 1. calculate the predetermined overhead rate for the year. enter the percentage as a whole number. fill in the blank 1 % of direct labor cost 2. calculate the overhead applied to production in september.

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04-11-2022
Business

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predetermined overhead rate, overhead application at the beginning of the year, estes company estimated the following costs: overhead $450,000 direct labor cost 600,000 estes uses normal costing and applies overhead on the basis of direct labor cost. (direct labor cost is equal to total direct labor hours worked multiplied by the wage rate.) for the month of september, direct labor cost was $46,300. required: 1. calculate the predetermined overhead rate for the year. enter the percentage as a whole number. fill in the blank 1 % of direct labor cost 2. calculate the overhead applied to production in september.

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kumarkrishna kumarkrishna · Answer 1 · 2022-11-17T07:00:53-05:00

The predetermined overhead rate for the year is 75%, the overhead applied to production in September is 34725.

Predetermined Overhead Rate based on Direct Labor Cost = 450/600*100 75 percent is the predetermined overhead rate based on direct labor costs. Cost of overhead for September is 46,300 * 75% $ 34,725 was spent on overhead in September.Costs for production of a good or service are known as overhead rates. Expenses like the price of the corporate office are examples of overhead costs because they are not directly related to production. The overhead rate is calculated by multiplying the indirect costs by the direct costs by 100. If your overhead rate is 20%, that means your company spends 20% of its revenue on the creation of goods or the rendering of services. A lower overhead rate indicates greater productivity and earnings. In order to create something for consumption, the process of production entails combining a variety of immaterial (plans, knowledge) and material inputs.

Three different production processes are available to businesses that offer goods. Job production, batch production, and flow production are these.

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