University of Maryland ACCT ACCT 321 Actual results for the year were the following: Total direct labor hours 6,750 Total indirect labor hours 1,300 Direct costs $35,000 Total indirect…
From the following budgeted data, calculate the budgeted indirect cost rate that would be used in a normal costing system. | |||||
Actual results for the year were the following: | |||||
Total direct labor hours | 6,750 | ||||
Total indirect labor hours | 1,300 | ||||
Direct costs | $35,000 | ||||
Total indirect labor related costs | $60,000 | ||||
Total indirect nonlabor related costs | $75,000 | ||||
The budgeted indirect cost rate is: | |||||
Answer: |