Predetermined Overhead Rate
I need to calculate the predetermined overhead rate. Can someone please show me how this is done? Thank you in advance.
Direct labor expended on jobs completed in month 1
$100,000
Direct material used up
$500,000
Budgeted manufacturing overhead
$2,000,000
Budgeted production volume
4,000 units
Actual production volume
4,500 units
Supplies, indirect labor, maintenance repair costs totaled
$2,200,000
Beginning work in process inventory
0
Ending work in process inventory
0