The Following Information Has Been Gathered for Foxmoor Industries for Its

question 1

Multiple Choice

The following information has been gathered for Foxmoor Industries for its fiscal year ending December 31: What is the predetermined factory overhead rate per labor hour?
$$\begin{array} { | l | r | } \hline \text { Estimated factory ouerhead costs } & \$ 1,500,000 \\\hline \text { Actual factory overhead costs } & \$ 1,776,400 \\\hline \text { Estimated labor hours } & 48,000 \\\hline \text { Actual labor hours } & 51,700 \\\hline \text { Estimated labor costs } & \$ 756,000 \\\hline \text { Actual labor costs } & \$ 840,125 \\\hline \text { Estimated machine hours } & 96,000 \\\hline \text { Actual machine hours } & 102,600 \\\hline\end{array}$$

• A) $29.01.
• B) $31.25.
• C) $37.01.
• D) $34.36.

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Definitions:

Production Possibilities Curve

A curve depicting all maximum output possibilities for two goods, given a set of inputs consisting of resources and other factors.

Slope Southeast

Directionally indicates a downward and to the right trajectory on a graph, often used in economics to describe certain types of curves like the demand curve.

Production Possibilities

A concept in economics that describes the maximum output combinations of goods or services an economy can achieve when all resources are fully and efficiently utilized.

Capital Goods

Long-lasting goods that are used in the production of other goods or services, such as machinery, buildings, and equipment.