Answer:
the value of the marginal product of labor is $500
Explanation:
The computation of the value of the marginal product of labor is shown below:
= MRP × price per unit
= 10 units × $50 per unit
= $500
hence, the value of the marginal product of labor is $500
We simply applied the above formula
Answer:
Estimated manufacturing overhead rate= $2.32 per machine hour.
Explanation:
Giving the following information:
Overhead costs are estimated to total $292,552 for the year, and machine usage is estimated at 126,100 hours.
To calculate the estimated manufacturing overhead rate we need to use the following formula:
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= 292,552/126,100= $2.32 per machine hour.