EXERCISE 10A–5 Predetermined Overhead Rates [LO4]
Operating at a normal level of 24,000 direct labor-hours per year, Trone Company produces 8,000 units of product. The direct labor wage rate is $12.60 per hour. Two pounds of raw materi- als go into each unit of product at a cost of $4.20 per pound. Variable manufacturing overhead should be $1.60 per standard direct labor-hour. Fixed manufacturing overhead should be $84,000 per year.
1. Using 24,000 direct labor-hours as the denominator activity, compute the predetermined over- head rate and break it down into fixed and variable elements.
2. Complete the standard cost card below for one unit of product:
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