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Determine the amount of overhead applied for the year

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Reference no: EM13889408

Warner Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year.

Budgeted

Actual

Overhead cost

$1,000,000

$950,000

Machine hours

50,000

45,000

Direct labor hours

100,000

92,000

Overhead is applied on the basis of direct labor hours. (a) Compute the predetermined overhead rate. (b) Determine the amount of overhead applied for the year. (c) Explain how an activity-based costing system might differ in terms of computing a predetermined overhead rate.

Reference no: EM13889408

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