Hodgkiss Company applies manufacturing overhead to jobs on the basis of machine

Question

Hodgkiss Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $304,070for the year, and machine usage is estimated at125,920hours.

For the year, $322,290of overhead costs are incurred and129,890hours are used.

Compute the manufacturing overhead rate for the year. (Round your answer to 2 decimal places, e.g $1.75.)

The manufacturing overhead rate
$ per machine hour $ Hodgkiss Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $304,070for the year, and machine usage is estimated at125,920hours.

For the year, $322,290of overhead costs are incurred and129,890hours are used.

Explanation / Answer

1. Overhead rate = 322290/ 129890 2. Applied overhead = 304070 - 322290

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