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vampirchik [111]
2 years ago
13

Schneider, Inc., had the following information relating to Year 1: Budgeted factory overhead: $74,800 Actual factory overhead: $

78,300 Applied factory overhead: $76,500 Estimated direct labor hours: 44,000 Actual direct labor hours: ? If Schneider decides to use the actual results from Year 1 to determine the Year 2 overhead rate, what is the Year 2 overhead rate?
Business
1 answer:
astraxan [27]2 years ago
7 0

Answer:

<u>The actual direct labor hours are 45,000.</u>

<u>The overhead rate for Year 2 is $1.74.</u>

Explanation:

Compute the actual direct labor hours:

\begin{aligned}\text{Actual direct labor hours}&=\dfrac{\text{Applied overheads}}{\text{Overhead rate}}\\&=\dfrac{\$76,500}{1.7}\\&=45,000\end{aligned}

<u>Therefore, the actual direct labor hours are 45,000.</u>

Compute the overhead rate for Year 2:

\begin{aligned}\text{Overhead rate}&=\dfrac{\text{Actual overheads}}{\text{Actual direct labor hours}}\\&=\dfrac{\$78,300}{45,000}\\&=1.74\end{aligned}

<u>Therefore, the overhead rate for Year 2 is $1.74.</u>

<u />

Working note:

Calculate the overhead rate for Year 1:

\begin{aligned}\text{Overhead rate}&=\dfrac{\text{Budgeted overheads}}{\text{Estimated direct labor hours}}\\&=\dfrac{\$74,800}{44,000}\\&=1.7\end{aligned}

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