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Picard company used a predetermined overhead rate based on direct labour hours. The estimated annual...

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Accounting

Picard company used a predetermined overhead rate based on direct labour hours. The estimated annual manufacturing overhead costs and direct labour hours were $150,000 and 20,000 respectively. Actual overhead costs and direct labour hours are $100,000 and 16,000 hours, respectively.

  1. What was the predetermined manufacturing overhead rate?
  2. What was the total manufacturing overhead costs applied during the period ?

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