From the following details provided by NutShell,Inc. ,prepare the manufacturing overhead budget for the year.Also,calculate the predetermined overhead allocation rate,using direct labor hours as the allocation base.
Definitions:
Supply Costs
The expenses incurred in acquiring the materials and services necessary for production or operations.
Square Feet
A unit of area measurement equal to a square that measures one foot on each side, commonly used in the United States.
Spending Variance
is the difference between the actual amount spent on materials, labor, or overhead and the budgeted amount for these items.
Fixed Cost
An expense that remains constant, irrespective of the volume of products or services manufactured or traded.
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