Mirada Manufacturing produces pumps for residential swimming pools.For the year, management estimated that total manufacturing overhead would be $1,488,000.Management decided to use direct labor hours to apply manufacturing overhead and budgeted 62,000 direct labor hours.The balance in over- or underapplied overhead is deemed to be small.The following information was compiled before an adjustment had been made to close Manufacturing Overhead Control. What predetermined overhead rate did Mirada use during the year (if necessary, round your answer to two decimal places)?

Question

Mirada Manufacturing produces pumps for residential swimming pools.For the year, management estimated that total manufacturing overhead would be $1,488,000.Management decided to use direct labor hours to apply manufacturing overhead and budgeted 62,000 direct labor hours.The balance in over- or underapplied overhead is deemed to be small.The following information was compiled before an adjustment had been made to close Manufacturing Overhead Control.  What predetermined overhead rate did Mirada use during the year (if necessary, round your answer to two decimal places)?

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The Answer of Mirada Manufacturing produces pumps for residential swimming pools.For the year, management estimated that total manufacturing overhead would be $1,488,000.Management decided to use direct labor hours to apply manufacturing overhead and budgeted 62,000 direct labor hours.The balance in over- or underapplied overhead is deemed to be small.The following information was compiled before an adjustment had been made to close Manufacturing Overhead Control.  What predetermined overhead rate did Mirada use during the year (if necessary, round your answer to two decimal places)?

Mirada Manufacturing Produces Pumps for Residential Swimming Pools