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Sawyer Manufacturing Company uses a predetermined overhead rate based on direct labour hours to apply manufacturing overhead to jobs. Last year, the company worked
57,000 actual direct labour hours and incurred $345,000 of actual manufacturing overhead cost. The Company had estimated that it would work 55,000 direct labour hours during the year and incur $330,000 of manufacturing overhead cost. The company's manufacturing overhead cost for the year was:
Hyperinflation
Economic situation characterized by soaring prices.
Soaring Prices
A situation where the prices of goods and services rise rapidly and to unusually high levels.
Economic Situation
The state of economic conditions within a region, country, or the globe, encompassing factors like growth rates, employment, inflation, and markets.
Seasonal Unemployment
Joblessness of workers in a seasonal industry.
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