For 2018, Franklin Manufacturing uses machineminushours as the only overhead costminusallocation base. The estimated manufacturing overhead costs are $ 360 comma 000 and estimated machine hours are 50 comma 000. The actual manufacturing overhead costs are $ 480 comma 000 and actual machine hours are 60 comma 000. Using job costing, the 2018 budgeted manufacturing overhead rate is . (Round the final answer to the nearest cent.)

The correct answer is $7.2 per machine hour.

Explanation:

According to the scenario, the given data are as follows:

Estimated manufacturing overhead costs = $360,000

Estimated machine hours = 50,000

So, we can calculate the budgeted manufacturing overhead rate by using following formula:

Budgeted manufacturing overhead rate = Estimated manufacturing overhead costs ÷ Estimated machine hours

By putting the value, we get

= $360,000 ÷ 50,000

= $7.2 per machine hour

lbc corporation makes and sells a product called product wz. each unit of product wz requires 4.1 hours of direct labor at the rate of $20.00 per direct labor-hour. management would like you to prepare a direct labor budget for june. the company plans to sell 28,000 units of product wz in june. the finished goods inventories o

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