Vette Tie Corporation has developed the following manufacturing overhead standards to use in applying overhead to the production of its hand-painted silk ties. Manufacturing overhead at Vette is applied to production on the basis of standard direct labor-hours (DLHs) .
The above standards were based on an expected annual volume of 60,000 ties. The actual results for last year were as follows:
-What total amount of manufacturing overhead cost (variable and fixed) did Vette apply to the 58,000 ties produced during the year?
Definitions:
Interest Rate
The interest rate is the percentage charged on the total amount borrowed or invested, representing the cost of borrowing or the earning from an investment over a specified period.
Loan
A financial amount given as a loan, anticipated to be returned with interest.
Rate of Return
The increase or decrease in the value of an investment during a set timeframe, represented as a percent of the investment's original price.
Equivalent Value
The worth of an item, service, or amount in terms of another, often used in comparisons or exchanges.
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