The following information has been gathered for the GHI Manufacturing Company for its fiscal year ending December 31: Actual manufacturing overhead costs $ 212,500 Actual direct labor hours 54,900 Actual direct labor costs $ 445,000 Estimated manufacturing overhead costs $ 210,000 Estimated direct labor $ 434,000 Estimated direct labor hours 56,000 What is the predetermined manufacturing overhead rate per direct labor hour?

The predetermined manufacturing overhead rate per direct labor hour is $3.75 per direct labor hour

Explanation:

Actual manufacturing overhead costs = $ 212,500

Actual direct labor hours = 54,900 hours

Actual direct labor costs = $ 445,000

Estimated manufacturing overhead costs = $210,000

Estimated direct labor hours = 56,000  hours

Predetermined Overhead Rate = Estimated manufacturing overhead costs ÷ Estimated direct labor hours

Predetermined Overhead Rate = $210,000 ÷ 56,000

Predetermined Overhead Rate = $3.75 per direct labor hour

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.