Use the information below to answer the following question(s) .
Howard & Sons allocates manufacturing overhead to jobs based on machine hours. The company has the following estimated costs for the upcoming year:
The company estimates that 1,600 direct labour hours will be worked in the upcoming year, while 1,000 machine hours will be used during the year.
-At Howard & Sons the predetermined manufacturing overhead rate per direct labour hour will be
Definitions:
Accounting
The systematic recording, reporting, and analysis of financial transactions of a business.
Invoiced Price
The cost specified on an invoice for goods or services, representing the amount demanded by the seller from the buyer.
Assignment
The act of transferring to another all or part of one’s rights arising under a contract.
Privity
A relationship between parties that is sufficiently close to validate contracts or grant rights or obligations.
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