Problem 1 indirect cost application rates The Flintstones manufacturing company makes hammers that it sells...
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Problem 1 indirect cost application rates The Flintstones manufacturing company makes hammers that it sells to hardware stores in the Northeast country. For next year manufacturing overhead costs are expected to be $ 243,000 Estimated data: The company expects a production of 175,000 hammers, 180,000 hours, for the following year machine and 36,400 hours of direct labor. The estimated cost of direct materials is estimated at $ 265,000 and the estimated cost of direct labor at $ 172,460. The actual data for January were as follows: 24,000 hammers 25,000 machine hours 5,000 hours of direct labor $ 44,020 direct materials costs $ 25,000 direct labor costs It asks: Calculate rates to apply manufacturing overhead, and determine overhead applied during January for each of the following bases: 1. Production units 2. MOD costs 3. Direct material costs 4. Machine hours 5. Hours of direct labor
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