Predetermined Overhead Rate; Overhead Variances
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I am studying for my final coming up and my professor gave the class a bunch of practice tests and quizzes for review. I need to compare my answers to that of a professional so I can hopefully pass my final exam. Thank you.
Please see attached. I need to know what goes in the boxes.
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Solution Summary
The solution explains how to calculate the predeterminet overhead rate and overhead variances
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1. Overhead rate = Total overhead/Denominator machine hours
= 33,200/8,000 = $4.15 per MH
Variable rate = Variable overhead/Denominator machine hours
= 8,400/8,000 = $1.05 per MH
Fixed ...
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