Sino woodworks Ethiopia Ltd makes office furniture from fine hardwoods. The company uses a job order costing system and predetermined
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Description
Sino-woodworks Ethiopia Ltd makes office furniture from fine hardwoods. The company uses a job-order costing system and predetermined overhead rates to apply manufacturing overhead cost to jobs. The predetermined overhead rate in the Preparation Department is based on machine-hours, and the rate in the Fabrication Department is based on direct materials cost. At the beginning of the year, the companys management made the following estimates for the year: Job-C was started on April 1 and completed on May 12. The companys cost records show the following information concerning the job: Required: a) Compute the predetermined overhead rate used during the year in the Preparation and Fabrication Departments. b) Compute the total overhead cost applied to Job-C. c) What would be the total...