Latting Manufacturing Corporation has a traditional costing system in which it applies manufacturing overhead to its products using a predetermined overhead rate based on direct labor-hours (DLHs) . The company has two products, T73C and R28K, about which it has provided the following data:
The company's estimated total manufacturing overhead for the year is $1,526,700 and the company's estimated total direct labor-hours for the year is 30,000.
The company is considering using a variation of activity-based costing to determine its unit product costs for external reports. Data for this proposed activity-based costing system appear below:
-The manufacturing overhead that would be applied to a unit of product R28K under the activity-based costing system is closest to:
Definitions:
Form 1040
The customary Internal Revenue Service (IRS) document utilized by individuals for the purpose of filing their annual earnings tax returns.
Tax Rate Structure
The dividing of taxable income into sections (brackets), each of which is taxed at a different rate.
Progressive
A term used to describe a tax system where the tax rate increases as the taxable income increases.
Proportional
A concept where elements are in a constant relationship in terms of size, amount, or number relative to a whole.
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