During the year hancock incurred 418000 in materials costs, Ask an Expert

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Hancock Manufacturing allocates overhead to production on the basis of direct labor costs. At the beginning of the year, Hancock estimated total overhead of $396,000; materials of $410,000 and direct labor of $220,000. During the year Hancock incurred $418,000 in materials costs, $413,200 in overhead costs and $224,000 in direct labor costs. Compute the overhead application rate.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M949935

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