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The Casual Furniture Company uses a predetermined overhead rate based on direct labor hours to apply manufacturing overhead to jobs. The company has provided the following estimated costs for next year:

Lumber ....................................................................                $ 25,000

            Paint ................................................................            1,000

            Glue ................................................................              500

            Wages - Assembly personnel ...................................     100,000

            Wages - Plant supervisor ........................................      40,000

            Sales salaries .......................................................          18,000

            Depreciation - factory equipment ...............................     16,500

            Depreciation - sales office equipment                               10,000  

            Utilities, insurance, property taxes - factory ...................    12,000

            Utilities, insurance, property taxes - sales office ...............  8,000

            Advertising ...........................................................               15,000

            Rent on factory building ............................................           30,000

                 Total costs ......................................................                 $276,000

The Casual Furniture Company estimates that 10,000 direct labor hours will be worked during the year.   The predetermined overhead rate per hour will be:

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M9964469

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