Determine the predetermined overhead rate for the year?, Ask an Expert

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Jones Inc. find outs its predetermined overhead rate yearly on the basis of machine hours. At the starting of the year it estimated that its net manufacturing overhead would be $900,000 and the net machine hours (mh) would be 45,000. Its actual total manufacturing overhead for the year was $995,000 and its actual machine hrs were 50,000.

Determine the predetermined overhead rate for the year? Show calculations.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M919137

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