Acc505 Managerial Accounting: (TCO F) Escatel Corporation bases its predetermined overhead rate

Acc505 Managerial Accounting (TCO F) Escatel Corporation bases its predetermined overhead rate on the estimated labor hours for the upcoming year. Data for the most recently completed year appear below. Estimates made at the beginning of the year : Estimated labor hours 24,000 Estimated variable manufacturing overhead $6.86 per labor hour Estimated total fixed manufacturing overhead $394,560 Actual labor hours for the year 24,500 Required: Compute the company's predetermined overhead rate for the recently completed year.
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