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 following information was compiled before an adjustment had been made to close Manufacturing Overhead Control:
$$\begin{array}{ll}
\text { Raw Materials Inventory } & \$ 304,291 \
\text { Work in Process Inventory } & \$ 337,997 \
\text { Finished Goods Inventory } & \$ 756,362 \
\text { Actual direct labor hours used } & 68,970 \
\text { Actual overhead incurred } & \$ 1,434,576
\end{array}$$ What predetermined overhead rate did Mirada use during the year if necessary,round your ans to the nearest cent?

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 following information was compiled before an adjustment had been made to close Manufacturing Overhead Control:
 $$\begin{array}{ll}
\text { Raw Materials Inventory } & \$ 304,291 \
\text { Work in Process Inventory } & \$ 337,997 \
\text { Finished Goods Inventory } & \$ 756,362 \
\text { Actual direct labor hours used } & 68,970 \
\text { Actual overhead incurred } & \$ 1,434,576
\end{array}$$ What predetermined overhead rate did Mirada use during the year if necessary,round your ans to the nearest cent?

Quizplus · Accepted Answer

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 following information was compiled before an adjustment had been made to close Manufacturing Overhead Control:
 $$\begin{array}{ll}
\text { Raw Materials Inventory } & \$ 304,291 \
\text { Work in Process Inventory } & \$ 337,997 \
\text { Finished Goods Inventory } & \$ 756,362 \
\text { Actual direct labor hours used } & 68,970 \
\text { Actual overhead incurred } & \$ 1,434,576
\end{array}$$ What predetermined overhead rate did Mirada use during the year if necessary,round your ans to the nearest cent?

Mirada Manufacturing Produces Pumps for Residential Swimming Pools What Predetermined Overhead Rate Did Mirada Use During the Year