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Question
Petraeus Fabrication Company has provided the following information for the year 2012:
Actual manufacturing overhead costs incurred $268,000
Manufacturing overhead costs allocated to production $259,200
Actual direct materials cost $800,000
Actual direct labor cost $144,000
Actual direct labor hours 3,200 direct labor hours
Actual machine hours 10,900 machine hours
Based on the above information, what was Petraeus's allocation rate? (Hint: for this type of problem, the "trial and error" method may be used.)
A) $95 per direct labor hour
B) 180% of direct labor cost
C) $8.50 per machine hour
D) 12% of direct materials cost
Answer
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